Zynga, publisher of casual titles including FarmVille and Words with Friends, has spent $310,561,000 on business acquisitions since 2010, which has resulted in a large financial deficit for the social and mobile business, reports Bloomberg.
Speaking on Bloomberg TV, editor-at-large Cory Johnson reported Zynga had $10 million in retained earnings before it began spending three years ago. Johnson said that recent SEC filings state Zynga currently has accumulated a $897 million deficit "which is only getting worse."
Bloomberg also reports Zynga has secured a revolving credit line of $200 million, which the company will be able to draw from going down the line. The publication speculates financiers may be cautious in assisting Zynga after the company closed Draw Something studio OMGPOP earlier this month and layoffs at the company's New York, Los Angeles and Dallas studios earlier this year.
Polygon has reached out to Zynga to confirm these figures and will share additional details as we have them.
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