UK Poker Stocks Surge as US Opposition Diminishes

by Lou on April 7, 2006

Online casinos soared in value yesterday on the London stock exchange as growing opposition mounted to legislation outlawing Internet gambling in the United States.

Shares in Party Poker firm PartyGaming surged 11 percent after debate in the US House of Representatives yesterday threw up opposition to a bill proposing a ban on web-based gambling and the use of credit cards and electronic payments to place bets online.

Richard Hunter, of Hargreaves Lansdown Stockbrokers in the UK, was quoted as saying that “Opposition to the bill is good news for the industry, which expects to double its 2004 revenues by 2008.”

Just imagine the growth surge if online poker providers were permitted to operate legally in the USA.

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