Online Gambling Shares in Europe Surge on Monday
Following the indictment and ultimate shutdown of three of the largest online poker rooms on Friday by the US Government, shares for European Web-based gambling firms surged on Monday.
Bwin.Party Digital Entertainment and Playtech both saw tremendous growth.
"All in all, we think the newsflow is good to very good news for the operators of non-US facing poker operations, most notably the market leaders in B2B poker, Playtech and Bwin.Party," Evolutions Securities analyst James Hollins said.
The European online gambling companies hope to benefit from the near elimination of PokerStars and Full Tilt from the overall market. Potentially, Interpol could arrest those in charge of both companies due to the severe nature of the crime: Money laundering and conspiracy.
Bwin.Party shares rose 31%, making it the top riser on a broadly flat FTSE 250 Index. Playtech shares increased by 12% while 888 Holdings PLC shares gained 15% in London.
- Aaron Goldstein, Gambling911.com
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