Gaming Stocks Go Green after DOJ Announcement

02/03/2012
By Tommie ClarkGoogle

As a result of the U.S. Department of Justice’s recent decision to remove online gambling from the restrictions imposed by the U.S. Wire Act of 1961 online casino stocks have taken a very positive upturn.  Traders responded excitedly to the USDOJ’s decision around the world, and many British companies have begun working to strengthen their ties with American firms in the hope that the USA online casinos will come back to life.

 

Top online casino companies like Bwin.party Digital Entertainment (BPTY) and 888 Holdings (888.L) have both seen impressive growth in the aftermath of the decision.  Ladbrokes and William Hill have likewise responded well.  Considering the new legal reality created by the USDOJ’s decision and America’s current financial situation, industry leaders are hoping the Barak Obama will take the steps necessary to allow for a legal framework for an online gambling industry in the U.S.

 

If a U.S. online gaming industry does become a reality, there is expected to be a flood of new players.  Two companies that could profit greatly from massive influx are 888 and PartyGaming.  Their technology is expected to be able to cope with the large numbers of new players coming with the emerging industry. 

 

Simon French of Panmure Gordon, a corporate and institutional stockbroking and investment banking group, recommended buying stock in 888 Holdings because of the massive potential of an emergent interstate gambling industry in America.  He also mentioned the potential resulting from Nevada’s recent legislation allowing for the licensing of online casinos locally.  888 is the only foreign company to receive local Nevada licensing to operate an online casino.

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