Syfy Channel is part of NBCUniversal, which is now controlled by Comcast.

Billy Pidgeon, an analyst for M2 Research who has followed the company since 2009, said Trion will need more hits in the coming months to prove it would be able to make it as a publicly traded company.

"They have to prove their platform can succeed and their next two games have to do well," Pidgeon said.

Unlike Zynga, Trion designs games with advanced graphics that can cost tens of millions to make, which is viewed as risky by investors.

"If you have a game in that level and it doesn't do well, you stand to lose a lot of money. The stakes are much higher with failure," Pidgeon said.

(Reporting by Liana B. Baker; Editing by Peter Lauria and Gerald E. McCormick)