Zynga Inc (NASDAQ:ZNGA) has decided to stick to what works best, at least for the time being. Yesterday, the social gaming company expanded its casino gaming franchise by launching Slots: Riches of Olympus. The title is available to download for free on iOS, and will soon be coming to Google Play. Zynga’s Casino product category already had games like Zynga Poker and Hit It Rich!. The latest game focuses on real Las Vegas-style mechanics and features Roman gods such as Zeus. We reported last month how the company can revive its business by replicating Zynga Poker.
Zynga aims to strengthen its position in Casino category
Zynga Inc (NASDAQ:ZNGA) is still struggling to translate its massive success on Facebook Inc (NASDAQ:FB) to mobile. But its Casino titles have performed relatively well on mobile. The recently launched Hit It Rich! has become the most-downloaded iPad game in the Casino category. The latest title is just an attempt at expansion of product category that’s generating good revenue. But Zynga’s vice president of games Barry Cottle says it is also working on games that have high production values.
Cottle said in an interview with GamesBeat that the future games will have excellence in execution and quality in user experiences. He added that the company wants to make games that look and feel good, citing titles like Candy Crush Saga, which is one of the biggest hits on Facebook Inc (NASDAQ:FB). On mobile, Zynga Inc (NASDAQ:ZNGA) has had little success outside Casino games, with only Words With Friends attracting users. The company has shut down more than a dozen games over the past few months.
In his book, The Dhandho Investor: The Low–Risk Value Method to High Returns, Mohnish Pabrai coined an investment approach known as "Heads I win; Tails I don't lose much." Q3 2021 hedge fund letters, conferences and more The principle behind this approach was relatively simple. Pabrai explained that he was only looking for securities with Read More
Zynga betting on Las Vegas-style games
Cottle said Casino games have stabilized the market, and now the company will expand on it. Zynga Inc (NASDAQ:ZNGA) recently purchased NaturalMotion for $527 million. NaturalMotion makes the Android and iOS hit CSR Racing. Slots has seen rapid growth in the Social Casino category. The latest one, Riches of Olympus, provides slots lovers with high quality Las Vegas-style experience.
Zynga Inc (NASDAQ:ZNGA) shares jumped 0.89% to $4.51 in pre-market trading Friday.