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Watch Those Online Gambling Shares on Wednesday With Full Tilt Poker Still in Limbo

Written by:
C Costigan
Published on:
Jul/26/2011
Online Gambling Shares

Following an announcement that the world’s second largest online poker room had its license yanked on June 29, shares of Internet gambling companies trading on the London Stock Exchange surged.

Likewise, many of FTP’s partners wasted little time in trying to snatch up that poker firm’s customers.  A handful of sites, including PartyPoker.com, witnessed double digit growth the week after Full Tilt lost its license. 

With news Tuesday that the Alderney Gambling Control Commission (AGCC) has scheduled a second hearing to determine Full Tilt Poker’s fate, competing online poker firms like Party, William Hill Poker, 888 Holdings and Paddy Power now have additional time in which to pursue jilted FTP customers.  Early estimates suggest that more than half of these customers have already been swallowed up.

Gambling911.com notes that Alderney’s decision to reschedule a second hearing came after the London Stock Exchange had already shut down for the day.

“It will be interesting to see how the market reacts to this delay of hearing,” said Aaron Goldstein, Business writer for the Gambling911.com website. 

Shares in Party have yet to fully recover from their year’s high of 209.80 in early April following the seizure of Full Tilt Poker and PokerStars bank accounts on April 15 by the US Justice Department.

- Chris Costigan, Gambling911.com Publisher

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