UK Online Casino Stocks Take Knockout Punch

During Monday morning trading in London, share prices of UK online casino stocks, including 888 Holdings, Neteller, Party Gaming, and Sportingbet dropped to unbelievable lows.

When President Bush signs the new Anti-Internet Gambling Bill into law, online casino players in the United States will be unable to access real money to place wagers. The new law stipulates that banks must block all financial transactions to offshore casinos.

Some UK-based online casino companies rely on US customers for as much as 80% of their overall business, leading many to speculate this week could hear several announcements by companies planning to totally shutdown.

Share prices as of mid-morning:

888 Holdings
(-51% at $1.39)

Neteller
(-63% at $2.35)

PartyGaming
(-65% at $ .80)

Sporting Bet
(-69% at $1.09)

October 2, 2006
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!