Thursday, December 6, 2012

Does Farmland at $20,000/acre Seem a Bit Rich? Try Farmville for Real Money! (ZNGA)

Back in October a reader sent us news that an 80.47 acre piece of Iowa farmland changed hands for $1,770,000 or $21,900 per acre. There aren't a lot of legal crops you could grow to get even T-bill returns off that price. Sooooo....
From All Things D:

Zynga Begins the Licensing Process for Real-Money Gaming in the U.S.
 Zynga will still have to wade through a maze of regulations, but has taken at least one step forward in getting permission to conduct real-money gaming in the U.S.

The San Francisco social games company said today that it has filed an “Application for a Preliminary Finding of Suitability” in Nevada. The process, conducted by the state’s gaming control board, could take up to 18 months. If Zynga is found suitable, it could apply for a license, which could take another two to three months.

“Zynga has filed its Application for a Preliminary Finding of Suitability from the Nevada Gaming Control Board. This filing continues our strategic effort to enter regulated RMG (real-money gaming) markets in a prudent way,” said the company’s Chief Revenue Officer Barry Cottle, in a statement. “As we’ve said previously, the broader U.S. market is an opportunity that’s further out on the horizon based on legislative developments, but we are preparing for a regulated market.”...MORE