Shares in King Digital Entertainment Plc fell as much as 15 percent in their Wednesday debut, underscoring concerns about the company's reliance on "Candy Crush Saga" and dashing hopes its coming-out party would revive investor interest in the mobile gaming industry. Mobile gaming executives had looked to London-based King's IPO, the largest by a gaming company since Zynga Inc went public in 2011, to help sweep aside skepticism over a notoriously fickle, volatile market. The company offers over 180 games but its two-year-old "Candy Crush Saga" game, in which users move candies to line up at least three of the same color, accounted for over three-quarters of King's revenue for the last three months of 2013. "Also, there've been a lot of high priced IPOs and mergers and acquisitions (of late) and when valuations get frothy, investors get disappointed when returns don't measure up to expectations." Candy Crush, a free game, is now a household name and has been downloaded more than 500 million times since its launch on mobile devices.
via Tech News Headlines - Yahoo News http://ift.tt/NRblQB
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