We're not the company to win the hardcore real-money gamers...But we think we are for the mass audience.
-- Mark Pincus, speaking at a tech conference on February 25
Shares of Zynga (NASDAQ:ZNGA) have performed well in 2013, up over 45 percent year-to-date. Much of the gains have come from optimism regarding the company's real-money gambling aspirations, boosted by online gambling legalization in New Jersey and an expansion of the proposed iGaming regime in Nevada.
The bull case for the company's gambling potential seems simple: all the company needs to do is turn a fraction of Zynga Poker's 35 million-strong user base. Turning free-money users, who create pennies in revenue, into real-money gamblers, who create dollars,...
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