..

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

Advertisement:  Time is running out to take advantage of this Free 1250 euro deal at William Hill.  No USA players allowed.

Business/Financial News

China Shuts Down Gambling Sites Using Tether

China Shuts Down Gambling Sites Using Tether

China this weekend has cracked down on gambling sites tied to the tether stablecoin.

Analysis: Is PayPal's Crypto Move a Game-Changer for Bitcoin? Probably Not, Say Experts

Analysis: Is PayPal's Crypto Move a Game-Changer for Bitcoin? Probably Not, Say Experts

PayPal Holdings Inc's PYPL.O decision to open its network to bitcoin and its rivals was hailed by virtual coin enthusiasts as a watershed moment for cryptocurrencies and their path towards becoming a widespread means of payment.

PayPal Enters Crypto Market: Will Allow Buying, Selling and Shopping

PayPal Enters Crypto Market: Will Allow Buying, Selling and Shopping

PayPal Holdings Inc joined the cryptocurrency market on Wednesday, allowing customers to buy, sell and hold bitcoin and other virtual coins using the U.S. digital payments company’s online wallets.

Square Makes Big Bet on Bitcoin

Square Makes Big Bet on Bitcoin

Square, Inc. (NYSE: SQ) announced that it has purchased approximately 4,709 bitcoins at an aggregate purchase price of $50 million. Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose. The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020.

Fox Given a "Buy" Rating Thanks to Sports Betting Boost

Fox Given a "Buy" Rating Thanks to Sports Betting Boost

Fox Corp is an under-the-radar play on US sports betting, the headline reads for Wayne Duggan's report at Yahoo Finance!

Syndicate