Zynga Stock Rises On UK Gambling Rollout

Zynga introduced anticipated gambling sites in the UK this week.

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    NEWSLETTERS

    TK
    Justin W. Davis
    Zynga's stock rose on news that the San Francisco-based company had released its online gambling games in the UK.

    Stock in San Francisco-based online gaming company Zynga enjoyed its biggest rise in "more than a year" after the company unveiled its gambling products, according to Bloomberg.

    News that "ZyngaPlusPoker" and "ZyngaPlusCasino" are available to adults 18 and over in the United Kingdom gave Zynga stock a 15 percent boost.

    Zynga's fortunes have been up and down of late: the company's stock debuted at $10 and rose as high as $14 before plummeting. But as the company moves away from FarmVille and other games where users pay real money for virtual items to gambling sites -- a tried-and-true moneymaker -- investors are taking notice.

    Online gambling isn't yet open to Zynga in the United States: the company has made a filing in Nevada but may not become eligible for another 12 to 18 months, Bloomberg reported.

    The U.S. market for online gambling could top $7 billion by 2017.