Friday, August 31, 2012

Finally, Zynga Inc (NASDAQ:ZNGA) Hires a New COO

Game developer Zynga Inc(NASDAQ:ZNGA) has a new chief operating officer in charge of new markets – Maytal Ginzburg - AllThingsD reported on Friday citing her LinkedIn profile as the source of the information.
Till July Ginzburg was the Senior Vice President of regulated markets at 888 Holdings, where her mandate was to acquire customers and other operations.

888 Holdings operates online portal 888.com, which is a gambling site offering real-money games such as poker, bingo and sports betting, in those markets where online gambling is regulated and permitted.

Can Shares OF ZNGA Bounce Back? Find Out Here

Ginzburg is expected to start work at Zynga soon, said Social Casino Intelligence which was the first to report on the development. It is expected that at Zynga she will be responsible for the company’s foray into real-money gambling and betting products.

The hire is important for the Facebook games maker because it shows that, while a number of executives have decided to leave, it can still recruit talent at a very high level, AllThingsD said.

Chief Executive Mark Pincus had earlier said that Zynga’s first real-money products were in development, and that it believed it has a huge opportunity to leverage its strong casino presence on Facebook, including with Zynga Poker and newer properties, like Bingo and Slots.

Zynga’s first real-money gaming products in international markets are expected to be launched in the first half of 2013, after getting due licensing and regulatory approvals.

Shares in Zynga were down 1.4 percent on Friday at $2.85 a share. The company has dropped nearly 70 percent since its IPO debut last year. 

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