A Mobile Gaming Developer Could Deliver A Double-Digit Gain
Zynga Inc. (Nasdaq: ZNGA), a mobile game developer, is one of the fastest growing mobile gaming platforms in the world, and garnered annual bookings of $1 billion last year.
The company recently announced that Zynga Poker, the world’s largest free-to-play poker game introduced a new Spin and Win mode in its World Poker Tour® Tournament Center.
This new mode gives players the thrilling experience of playing short tournaments and a chance to win payouts of up to 10x their buy-in by spinning a prize wheel.
Bernard Kim, President of Publishing for Zynga, commented: “Our players have asked for faster-paced tournaments with bigger rewards, and we believe Zynga Poker’s new Spin and Win tournament mode truly puts our players in the hottest seat at the table.”
He continued: “Combining this quicker, more aggressive tournament style with the famous World Poker Tournament brand gives players the most compelling virtual experience in the sport of poker.”
Zynga Poker is one of the most popular poker games in the world and the new Spin and Win mode will create more ways for players to compete than ever before.
This Texas Hold ‘Em Poker game, is designed to play like a real table experience. It allows players to participate in either a Sit-N-Go game, Spin and Win tournament mode or a cash table game to win generous payouts with up to nine players in either a fast or slow style settings.
This could be good news for the stock.
Adam Pliska, CEO of the World Poker Tour, said: “Spin and Win is the latest development from our great partners at Zynga Poker to enhance the World Poker Tour experience for their players.
This innovative addition to the WPT Tournament Center is a testament to the creativity of Zynga Poker and gives their players another unique way to engage with the World Poker Tour.”
In addition, Zynga is expected to launch nine games over the next two years in order to retain players and increase their engagement.
Perhaps the most exciting news is that the company has signed licensing deals with Game of Thrones, Harry Potter and Star Wars. This sets the company up nicely, and it could be the fastest growing gaming stock in 2019.
Zynga’s revenue and income are also expected to edge higher this year and investors should take a closer look at this up and coming stock.
ZNGA should be considered a buy if recent momentum continues.
Look for an entry at $5.35 with a price target of at least $6.41 based on the pattern in the chart.