PartyGaming Boost Amidst US Online Gambling Bill Hesitation

Filed in archive Gambling General on April 6, 2006

The online gambling ban in the US stumbled yesterday as it found opposition during a debate in the House of Representatives Judiciary Committee.

This caused nothing but good news for Party Gaming Shareholders as its stock rose more than 13% - and more optimism overal in the gaming industry for analysts.

Analyst Greg Feehely at Altium Securities said the bill was likely to be hindered by the fact it targeted some types of online gaming while omitting others such as remote horse race wagering.

"This will hinder progress," he said. "We also note that no date has been scheduled for a second hearing. This is potentially very significant and positive news for the quoted online gaming sentiment in a shorter than usual legislative session."

It seems the bill has found its first hurdle and many feel that ultimately it'll be unable to get through. Many in the industry echoed this sentiment and the listed online sportsbooks also saw an increase in their value

Article: PartyGaming jumps on US gambling bill doubts