Zynga's share price has climbed to a six-month high, as New Jersey looks set to legalise online gambling.

Governor Chris Christie vetoed an online gambling bill passed by the New Jersey legislature last week, but indicated that he would support the bill if a set of amendments were made.

Once these amendments are integrated into a new bill, it seems likely that New Jersey will become the third state to legalise online gambling, possibly as soon as March.

Such a move would present opportunities for companies in both the US and Europe, opening up a market that could be worth as much as $1 billion.

Multiplayer money-maker

Zynga took its first steps into real money gambling in October 2012, when the embattled social behemoth announced an exclusive partnership with bwin.party that would see Zynga release poker and casino games in the UK.

As a result of the developments in New Jersey, bwin.party's share price climbed by more than 20 percent on the London Stock Exchange.

Reuters notes that bwin.party has a joint venture with Boyd Gaming, which is licensed in New Jersey.

Zynga's shares on the NASDAQ exchange increased in value by 11 percent over the course of the day, closing at $3.43 on Friday – its highest since July 2012, and they've continued to climb throughout Monday's sessions.

The news in New Jersey also sparked renewed hopes that other US states might relax their gambling laws – a change that companies such as Zynga would doubtless be keen to see.

[source: Reuters]