Continued Rise Despite Ban

Published July 18, 2006 by OCR Editor

Continued Rise Despite Ban

Nothing seems to be able to stop the rise in popularity of online casino sites, not even a strong anti gambling law that would essentially ban their operations in the United States.

Despite that fact that the United States House of Representatives backed Senator Rob Goodlattes bill calling for outlawing online casino sites and the use of credit cards for internet gambling, gambling giants such as PartyGaming have reported an increase in their share values.

The trend in recent weeks has been for share prices belonging to the sites to behave rather erratically as Goodlattes' bill headed for the House of Representatives. Although most operations are based outside the US, including PartyGaming, they also rely heavily on revenue from the US gambling market. The silver lining seems to be the optimism generated by gamblers who believe that the bill will not pass through the US Senate, especially since there is less than a fortnight of business days to go.

As a result of this belief that the bill will not pass in the end, share prices of the companies continue to rise. PartyGaming, for example, reported a 6% rise in its shares recently and others are in a similar marketing position.

See also

Spain Bucks Sequentially in Q1, but the Market Continues to Rise Overall

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