Zynga prepares for Internet gambling with launch of bingo game

This feature notes that Zynga is positioning itself for the expected advent of Internet gambling.

Zynga has launched a new game, Zynga Bingo, in its Casino suite that comprises online casual gambling games like Texas HoldEm Poker. Zynga Bingo is currently available in beta, and will eventually be rolled out publicly.

Zynga plans to leverage the popularity of Texas HoldEm Poker to market Bingo, and will also allow Bingo players to chat with Poker players. Zynga Bingo is modelled after the classic Bingo game, but incorporates social elements enabling players to play the game with their Facebook friends as well as other players in real-time. Players can use Zynga’s virtual currency to buy Bingo cash, unlock game rooms and buy collectible items.

Zynga competes with Electronic Arts, Playdom which was recently acquired by Disney and other independent social gaming studios.

Texas HoldEm Poker is currently Zynga’s most valuable game and brings in a majority of its revenue, primarily because of the high average revenue per user generated by poker games. It currently has more than 30 million users. Zynga has announced that it plans to leverage the large user base of Texas HoldEm Poker, and is currently looking for partners to enter the online gambling space.

Zynga can quickly attract a significant number of users to Zynga Bingo by marketing it to more than 230 million active users of its other games. With Bingo, Zynga has yet another potential game which could help it enter the online gambling space and generate a significant amount of revenue in the coming years.

Zynga’s stock has jumped 15% in the last 5 days, soon after it announced its intentions to enter the online gambling space and launched the beta version of Zynga Bingo. We currently have a Trefis price estimate of us$ 10.23 for Zynga, which stands slightly below its current price estimate.