A federal judge in New York ruled last week that poker's not
gambling, reported the
Wall Street Journal
. Yes, we know. He ruled that running Texas Hold 'Em poker games
in a Staten Island warehouse is hunky dorey because the game
This ruling opens the door a crack to the possibility of
legalizing online poker. That's good news for Las Vegas houses
like Caesars Entertainment (
), which would love to get into the online poker business. But it
also presents an unholy hail mary-type opportunity for the tiny
farmers at Zynga (
Zynga's growth has tanked, and so has its stock price.
Gambling, of course, is viewed by some as a tax on the poor
and the stupid. Not a business to be entered into lightly.
Would Zynga's board go this route?
Here's the list of directors
. It includes Zynga chief Mark Pincus, venture cap guy William
"Bing" Gordon, other venture cap guy and former LinkedIn (
) chief Reid Hoffman, DreamWorks (
) chief Jeffrey Katzenberg, former private equity guy Stanley
Meresman, venture guy Sunil Paul, Schmoop University chief Ellen
Siminoff, and former Facebook (
) operating guy Owen Van Natta.
Let's see, there's no-one from Don't-Be-Evil Google (
) over there. Instead, there are a bunch of investors who want
their money back. And this is the company that invented "Mafia
Wars." If we were betting types, we'd say it's not inconceivable
that Zynga's hard-to-see tiny farmers will trade produce for
From the editors of YCharts.
YCharts Pro Investor Service