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Zynga (ZNGA) Expands Globally With Game Launch in South Korea

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Zynga (ZNGA - Free Report) recently announced the availability of its renowned mobile game Harry Potter: Puzzles & Spells on Apple App Store and Google Play in South Korea.

The magical Match-3 mobile game is officially licensed from Warner Bros. Games and are published under the Portkey Games label. Moreover, it is fully localized in Korean and available for free download.

The entire content line-up of the Harry Potter-inspired game, which comprises more than 1,000 magic-infused Match-3 puzzles, will be made available to players in South Korea.

The game is available on iOS and Android-based devices as well as Amazon Kindle and Facebook.

Expanding Gaming Portfolio: A Key Positive

 

Zynga Inc. Price and Consensus

Zynga Inc. Price and Consensus

Zynga Inc. price-consensus-chart | Zynga Inc. Quote

 

Notably, Zynga shares have surged 48.9% over the past year compared with the Zacks Gaming industry’s growth of 1.8%. Markedly, this Zacks Rank #4 (Sell) company faces significant competition from video game giants like Activision Blizzard (ATVI - Free Report) , Electronic Arts (EA - Free Report) and Take-Two Interactive (TTWO - Free Report) .

However, Zynga’s strong gaming portfolio has been instrumental in driving share price movement. Moreover, coronavirus-induced social distancing practices, which have confined people to their homes, have driven demand for the company’s robust portfolio.

The company’s acquisition of Rollic in October 2020 is noteworthy in this regard. The buyout has helped Zynga extend its offerings with Rollic’s hyper-casual games line-up.

Additionally, the buyout of Peak, the creator of Toon Blast and Toy Blast, has fueled growth of Zynga’s player base and expanded its forever franchise portfolio, which includes CSR Racing, Words With Friends, Zynga Poker, Empires & Puzzles and Merge Dragons!

Markedly, the company’s online game revenues soared 54.8% year over year to $436 million in the third quarter of 2020, primarily driven by strength in its forever franchises — Toon Blast and Toy Blast — along with Empires & Puzzles and Merge Magic!

Moreover, the company expects the momentum to continue in the near term with strong contributions from its robust forever franchise portfolio and Rollic’s wide-gaming portfolio.

Further, the recent rollout of Harry Potter: Puzzles & Spells in South Korea bodes well for the company’s international expansion plans.

Nevertheless, growing popularity of Activision’s Call of Duty and World of Warcraft franchises and Electronic Arts’ Apex Legends and Star Wars among gamers is a major concern for Zynga’s competitive position.

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