March 17, 2013- Glu Mobile Inc. (GLUU), the well-known and respected American mobile games manufacturer, saw the value of its common stock soar on news that it planned to launch online real money gambling games in the United Kingdom.
A single share of the company’s stock rose by a very impressive twenty seven percent in active morning trading on Friday in New York City.
The company’s decision is probably based on the fact that the popularity of online gambling is growing rapidly throughout the United Kingdom. For the first time, people are wagering real money on games that are accessible to them online.
The news about the increase in online gambling and on Glu Mobile’s decision to take advantage of it may have prompted two other companies to announce their intentions to do the same thing.
Facebook, the social media giant and Zynga, another large company, also stated their plans to follow Glu Mobile’s lead and introduce their own online real money games in England, Ireland and other parts of the United Kingdom.
Glu Mobile’s stock actually finished the trading day up twenty percent on Friday and closed at $2.91. Its stock is traded on the Nasdaq Exchange.