NEW YORK (TheStreet) -- Gay marriage. Legal marijuana. Online poker.
While public companies might face considerable blowback for attempting to generate revenue in the first two areas, there seems to be societal consensus that real money gaming stands ripe for exploration and execution. The synchronistic evolution of our cultural norms and mores has, IMNSHO, cultivated an environment where Zynga -- or Facebook -- can not only get away with, but be roundly cheered for giving its users the opportunity to wager on games of skill, chance and whatever else authorities (progressively) deem legal.
As such, Zynga and Facebook should anticipate the next frontier and set themselves up to profit from all forms of sports gambling.
Over the past couple of weeks, TheStreet's Robert Weinstein has published some of the best work you're going to find on Zynga -- company and stock.
If you had heeded Weinstein's words ahead of Zynga earnings last Thursday, you would have made out quite well. In January 30th's Two Tech Stocks: One Hero and One Zero, he called ZNGA "a stock I love," noting ...
Zynga's stock is in the dog house because analysts consider it a failing game provider for Facebook. That opinion is largely true, but the value comes from the way it's morphing into a real money poker destination. The most profitable game Zynga hosts is real money poker, which is available only to U.K. customers currently.
Zynga is also the No. 1 play money poker site in the world. All Zynga needs to do is become licensed in other jurisdictions, and it can reach profitability. Play money poker uses points that have no real value, while real money poker uses real cash.
The U.S. is the No. 1 market, and three states have legalized online gambling. I believe more states will open and more importantly, other countries will soon become available.
I hadn't thought about Zynga for awhile prior to reading Robert's work. However, I'm no stranger to the company.
Back in 2012, I strongly suggested that founder and then-CEO Mark Pincus should step down and take on a more strategic role in the company. He took my advice and ZNGA investors should thank Pincus for doing so. More founders needs to swallow their pride like Pincus did.
Anyhow, Weinstein's on the mark with respect to Zynga's real money poker opportunity. But it should not stop there. Zynga ought to position itself to take advantage of any existing or future openings in sports gambling and related areas. If Zynga doesn't make this move, Facebook should. There's probably even room for both as well as others.
It's no brainer. And it can start with an app I discovered late last week -- Swoopt.