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| | | March 18 - The threat of new anti-gambling laws being introduced in the United
States to crack down on offshore online casino gambling, caused PartyGaming
shares to dip below their listing price, this week on the London Stock
Exchange.
As one of the world's leading online poker rooms, PartyGaming was listed on the
LSE last year to much fanfare and speculation. With news of a possible
'US crackdown' this week, its shares dropped by 11.5p to 109p, before rallying to close at
0.5p, 4.5p above its the float price.
There is currently a huge drive by many US politicians to curb the online
gambling industry. The latest in a series being Congressman Jim Leach who had
his 'unlawful internet gambling bill' passed by a committee of the House of
Representatives last Wednesday.
The bill is designed to drastically 'throttle the flow of money from American
online gamblers to online casinos by clamping down and.or prohibiting the use of
checks, credit cards and bank transfers to settle online casino wagers and accounts.
Other LSE listed online casino and gambling concerns that may be affected by the US
crackdown include 888 Holdings and online sports betting sites, Sportingbet
and BetOnSports.
This bill comes at a time when another enormous online gambling concern, online
casino software developer,
Playtech, is set to list on the LSE, aiming to raise ?175m in a float valuing
the company
at ?550m
There is much speculation as to how Playtech's, and future online
gambling-related listings, may be affected by the US
anti-online gambling stance.
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