Update: Zynga Not Negotiating on Ongame Acquisition

Aug 16, 2012
Update: Zynga Not Negotiating on Ongame Acquisition
It rather turns to lobbying for legalization in pursuit of real-money action

According to the latest reports, social gaming giant Zynga is not one of the bidders in the ongoing negotiations for the acquisition of the Ongame Poker Network, despite previous rumors that it has offered a bid and may be the most likely buyer of the company.

Whoever buys it, will get a lot of traffic from Ongame, whose network includes some 30 sites and a big player base, which may become smaller once Bwin players are migrated to the PartyPoker site.

In related news, regarding Zynga's interest in moving into the real money online gaming sector, reports came that the company has initiated and invested into both federal and state lobbying activities for the issue in Washington DC and California.

The company apparently places its hopes into its flagship game - Zynga Poker, as well as its other casino-style games. In addition, it announced that it's negotiating with potential partners about games with real money action.

In the second quarter of the year, Zynga employed Washington-based Bay Bridge Strategies Inc. and Peck, Madigan, Jones & Stewart Inc. whose duty is to monitor "legislation pertaining to regulation and taxation of Internet gambling" in the House and Senate. On the other hand, it's also engaged Platinum Advisors in California, with an aim to lobby around a bill introduced in the state senate earlier this year that would establish licensing for online poker providers.

On federal level, during the same quarter Zynga spent $75,000 on the same lobbying activities.
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