..

Shareholders of European Online Gambling Companies Make Out Big On “Black Monday”

Written by:
Aaron Goldstein
Published on:
Apr/18/2011
European Online Gambling

It could have gone either way.  Following the indictments of the three largest privately held online poker firms Friday afternoon, long after the London Stock Exchange had closed for the day, antsy shareholders wondered which way the stock prices would go on Monday. 

Having an entire weekend to absorb what had just transpired, it was clear:  The markets were more than happy to get PokerStars and Full Tilt Poker out of the way.

Industry observers believe that the US Justice Department will be throwing all their resources towards prosecuting the indicted companies over the next 12 months. 

In the meantime, Euro firms can focus on solidifying their relationships with Las Vegas behemoths while lobbying to have online gambling legalized in the States.

Bwin shares were up a whopping 34 percent Monday.  888 Holdings, which has formed an alliance with Caesar’s in Vegas, was up 24 percent.  Playtech was up 11 percent.

European i-Gaming companies have long complained about an unfair advantage both Full Tilt and Stars had as they continued to accept players from the lucrative US market post-2006, following the passage of the Unlawful Internet Gaming Enforcement Act (UIGEA).  Publicly held European betting firms were forced to abandon the market. 

According to Execution Noble analyst Geetanjali Sharma: "The closure of the main competitors' operations and the US legal proceedings initiated against them should benefit European listed operators."

 

- Aaron Goldstein, Gambling911.com

 

Follow breaking headlines around the clock at Gambling911.com Twitter Here

Business/Financial News

Cryptocurrency to be Spotlighted on Dr. Phil Tuesday: Scam or Not?

Cryptocurrency to be Spotlighted on Dr. Phil Tuesday: Scam or Not?

Dr. Phil tackles the controversial topic of cryptocurrency: digital currencies that are being hailed as the future of finance by some and a scam by others. This show airs on Tuesday in most markets.

Bitcoin Skids to Six-Month Low as Fears of Ukraine Conflict Shake Markets

Bitcoin Skids to Six-Month Low as Fears of Ukraine Conflict Shake Markets

Bitcoin tumbled almost 9% on Monday to its lowest in six months as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their sell-off.

Bookies: You Don't Have to Meet Your Players to Pay Them Any More With This App

Bookie Agent App for Paying and Collecting Money Without Having to Meet Face to Face

Introducing Agent Payment 4K.  It's a complete player payment control app only available at Power Pay Per Head. 

The Fed May Create a US Digital Currency

The Fed May Create a US Digital Currency

The central bank just released a 40-page study on the benefits and risks of a central bank digital currency (CBDC).  The agency avoided taking any type of stance on the matter.

Russia Proposes Ban on Use and Mining of Cryptocurrencies

Russia Proposes Ban on Use and Mining of Cryptocurrencies

Russia's central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty.

Syndicate