Wednesday September 23, 2020

updated - September 23, 2020 Wednesday EDT

Candy Crush Saga to Debut On New York Stock Exchange Wednesday

Mar 24, 2014 04:20 PM EDT | By Justin Stock
Candy Crush, New York Stock Exchange

King, creator of the famous Candy Crush Saga smartphone game app will be listed on the New York Stock Exchange for the first time Wednesday.

According to the Associated Press, King might be worth up  to $7.6 billion depending on how much its shares are set at.

If all goes according to plan, and the shares go for $24 each, which is the higher amount of the range, it will have double the amount compared to Zynga's Farmville.

King brought in $1.9 billion in income in 2013 according to information from CNET. This is an increase from $164 million in 2012, and $63.9 million in 2011 CNET reported.

"With King's tent-pole title, 'Candy Crush Saga,' currently tracking 20 (percent) below peak-booking levels, future growth will depend on the company's ability to diversify," Arvind Bhatia, analyst at Sterne Agee said in a statement the AP reported.

King invested $500 million Feb. 18 for it to be added on the NYSE.

King owns Candy Crush, and over 180 other games. Ninety-three million people play them on a regular basis.

Candy Crush Saga was first introduced on King's website before coming to Facebook last April Technology Tell reported. It then became available on Mobile Apps a year ago this month.

The game has since set records in Apple's iOS app store, and Google Play Store.

The app is bringing in the most money in the US App store, and many parts of the world Technology Tell reported.

More than 61 percent of players who have the game in the United Kingdom, compete while they are on their way to work in the morning Tech Crunch reported.

King had previously mentioned that issues with revenue could have surfaced if the IPO process was not successful.

"If the gross bookings of our top games, including Candy Crush Saga, are lower than anticipated and we are unable to broaden our portfolio of games or increase gross bookings from those games, we will not be able to maintain or grow our revenue, and our financial results could be adversely affected," the company said in a statement The Journal reported.

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