Harrah's Online Gambling Deal Carries 888 To Major Stock Increase

Harrah's Entertainment can only hope that someday a company will be able to do for them what they have just done for 888 Holdings Plc. An announced online gambling deal between the two gaming companies has helped 888 stock soar on Friday.

The deal that was announced late last week will hook 888 up with Harrah's when it comes to online gambling. Harrah's has been setting themselves up for possible law changes in the US, and now 888 may be in a position to re-enter the US market should it become regulated.

"This deal should have done exactly what it did for investors. They should now believe that 888 is positioned perfectly to once again be a major player in online gambling in the US," said observer Harvey Grant, "It is not surprising that 888's stock jumped so drastically.

At the close of the day Friday, 888 stock was up 14.30%. It sent the stock price to $97.50 a share, the highest point that it has been in 2009. Those are the type jumps that have just not been seen in these tough economic times.

Other major gaming companies that are listed on the London Stock Exchange did not experience nearly the day that 888 had on Friday. William Hill stock had a change of less than one percent, and closed at $184.10. Ladbrokes also rose less than one percent, and finished at $194 for the week.

PartyGaming remains the most stable of all the gaming stocks on the market at $263.90 a share. They did increase their stock price by almost two percent, or $4.90 on Friday.

September 12, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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