Zynga’s COO steps down

Social

by Tineka Smith| 09 August 2012

John Schappert, Zynga’s COO and Director, has resigned from both positions.

According to the company's SEC release John Schappert has not resigned based on any disagreement from either side.

"Mr. Schappert's resignation from the Board was not tendered in connection with any disagreement with the Company on any matter relating to the Company's operations, policies or practices," said the company in their statement.

Zynga also noted that John Schappert leaves as a friend of the social gaming company.

Zynga's stock prices have continued to plummet with shares currently around $3, a big drop from its orginal $15 per share price.

The company has plans to release a gambling game for Facebook by next year. However, Zynaga will face some competition with the recent launch of the gambling game app 'Bingo Friendzy' on Facebook.

The gambling application by UK gambling giant, Gamesys, enables adults Facebook members to play with real money on Facebook

The gambling game 'Bingo and Slots Friendzy' is currently only available in the UK due to Britain's legal stance for gambling. In the U.S., where the company is based, gambling services on social media sites are not allowed.

"People love playing new types of games with their friends on Facebook and real money gaming is a popular leisure activity in the UK," said Julien Codorniou, Head of EMEA Gaming Partnerships. "We're delighted to be working with Gamesys to enable them to offer their games on Facebook so that people can enjoy playing more games with their friends."

Facebook users will have to go thorugh a number of strict acceptance controls to verify their identity and confirm they are over 18 as well as located in the UK.

Facebook's age-gating and geo location technology will ensure the activity from the application will not appear in the newsfeeds of users under the age of 18 or outside of the UK.

The gambling app has a selection of 90 different bingo and slots games that can be played with real money instead of Facebook credits.

Users will also have the chance to win free bingo tickets as well as enhanced cash rewards for inviting friends.

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