Zynga stock declined on Monday after analysts issued a warning to investors that the online gaming company’s bookings or adjusted revenue could decline further. Zynga will release its 2016 first-quarter financial report after the market close on Wednesday.

Zynga Inc Q1 Earnings: Analysts Expect Weak Bookings

Decline in users and bookings expected

In a note on Monday, analysts at Canaccord Genuity wrote, “While the company is benefiting from several capital and operational efficiencies, user and bookings declines are still rightfully weighing on the stock.”

In February, the San Francisco-based company said that for the first quarter of 2016, bookings are expected to be between $150 million and $165 million, lower than they were in the first quarter of 2015 when they were $167 million.

Overall, Wall Street is expecting the gaming company to report a loss of 1 cent per share for the latest quarter. This will be equal to what it reported in the same period last year. Revenue is expected to decline 3.2% on a year over year basis to $162.13 million.

Zynga launches another slot game

In other Zynga news, the game maker announced the launch of Spin it Rich! Slots, a free-to-play game for the Kindle, iOS, Facebook and Android, on May 2. This game is a sequel to the company’s Hit It Rich! Slots.

In the fourth quarter of 2015, growth of 78% was seen in Zynga’s slot division, which includes Wizard of Oz Slots. Casino games are an important part of the company’s strategy to make an impact in the mobile game market, which is worth $34.8 billion. Market analysis firm Eilers Research noted that the social casino market was worth $3.3 billion in revenues in 2015.

In a press release, Joe Kaminkow, Zynga’s chief game designer and senior vice president of slots, said, “Since launching in 2014, Hit It Rich! Slots has delighted millions of players, giving them an immersive way to interact with their favorite entertainment brands.”

Kaminkow added that players love the free-to-play experience and that Spin It Rich! Slots builds on it. The game combines exciting mobile slots gameplay with the glitz and glamour found in casinos around the world, the executive said, adding that the company is thrilled to bring new branded reels, including Godzilla and Superman, to players in Spin It Rich! Slots.

In pre-market trading today, Zynga shares were down almost 2%. Year to date, the stock is down almost 12%, while in the last year, it is down by over 4%. The stock has a 52-week high of $3.12 and a 52-week low of $1.78.