Facebook Inc. (NASDAQ:FB) in the light of slow growth has launched real money gambling app, Bingo Friendzy, in collaboration with London-based online gambling operator Gamesys, which also runs some jackpot sites like Sun Bingo and Caesars Casino. It is the first gambling app on the social networking site.
Facebook Inc. stock is showing slow growth and by introducing the gambling app, the company aims to boost its financial position.
Currently the app is only available for Facebook UK users who are 18 and over to play games for cash prizes. On the other hand, Facebook Inc. gaming partner, Zynga, is also planning to introduce real-money gambling versions of its games next year.
A Facebook spokeswoman, who has given her statement to BBC, said, Bingo Friendzy was not a joint venture; the game had been developed entirely by Gamesys. She further added that real money gaming is a popular and well-regulated activity in the UK, and we are allowing a partner to offer their games to adult users on the Facebook platform in a safe and controlled manner.
Facebook will use age-gating and advance security technology to ensure that no one under the age of 18 and fraudulent people can access the app.
Facebook Inc. takes 30% share from Zynga’s Framville when users buy virtual items in the game like seeds; tractor etc. FB has not confirmed its share in Bingo & Slots Friendzy, saying it is “commercially sensitive information”.
Gamesys Group was founded by Noel Hayden in 2001, it is one of the largest UK online gambling firms, operates the Sun Bingo, Heart Bingo and UK’s leading bingo-and-slots website Jackpotjoy.com. The company has self-help tools to reduce the risk of gambling addiction, including the ability to set outlay limits.
Gamesys’ is licensed and regulated by the government of Gibraltar for gambling activities, allowing it to carry out such activities in the UK. Gamesys cash bets during 2011 were over 3.2 billion and revenue was 125 million pounds. Company has won number of awards since 2009.