Zynga Gaming IPO disappoints

Online gaming social games developer Zynga’s IPO continued to struggle as the holiday period ended, with Forbes magazine and Renaissance Capital characterising it as one of the worst IPOs of 2011.

Forbes reported this week: “Though Zynga is not included in Renaissance Capital’s year-end review – it did not price its offering until December 15 and started trading a day later – its decline of about 60 percent would only barely crack the list of the year’s worst-performers.

The smart money may still be on Zynga though as real money online poker is on the verge of becoming legalized in the US while Zynga has already announced plans to begin offering money play in the United Kingdom.”

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