Good News for Online Gambling USA

OLD HEAD · 04-30-06, 02:58 PM

Andrew Dewson
Published: 28 April 2006
A bleak day for the London markets was given a lift by news that the American Gaming Association, the trade body of the US gambling industry, is to reclassify its position on online gambling.

The AGA, a powerful lobbying association, wants congress to look at regulation and taxation of the industry, a move in effect ending the prospect of legislation criminalising online gamblers.

The news was greeted enthusiastically by investors in London-listed gambling stocks, with PartyGaming and 888 Holdings, the two largest UK online gambling stocks, up strongly on good volume. Rumours over US prohibition of online gambling have consistently knocked the shares in the past few months, and sector bulls think that backing from AGA could give the industry a considerable long-term boost.

One trader said: "In the shorter term it is a relief rally but beyond that, if the US does decide to completely legitimise the industry, the possibilities for growth are outstanding."

PartyGaming ended as the best performer in the FTSE 100, after it gained 6.75p to 152.75p, a six-month high. 888 Holdings firmed 7p to 244p. The smaller online gambling stock BetonSports, which runs sports books on basketball, American football and baseball, also benefited, adding 9.25p to 169p.

dananderson32 · 04-30-06, 03:46 PM

taxing in the US nooooooooooo it cant be! whats new fucking american govt favorite word is TAX!

naught33 · 04-30-06, 06:13 PM

work hard for your $$ only to watch it go somewhere else lol

04-30-06, 02:58 PM	#1 (permalink)
OLD HEAD SCI Veteran Member Join Date: Jul 2005 Location: JOISY !! Posts: 1,554	Good News for Online Gambling USA Andrew Dewson Published: 28 April 2006 A bleak day for the London markets was given a lift by news that the American Gaming Association, the trade body of the US gambling industry, is to reclassify its position on online gambling. The AGA, a powerful lobbying association, wants congress to look at regulation and taxation of the industry, a move in effect ending the prospect of legislation criminalising online gamblers. The news was greeted enthusiastically by investors in London-listed gambling stocks, with PartyGaming and 888 Holdings, the two largest UK online gambling stocks, up strongly on good volume. Rumours over US prohibition of online gambling have consistently knocked the shares in the past few months, and sector bulls think that backing from AGA could give the industry a considerable long-term boost. One trader said: "In the shorter term it is a relief rally but beyond that, if the US does decide to completely legitimise the industry, the possibilities for growth are outstanding." PartyGaming ended as the best performer in the FTSE 100, after it gained 6.75p to 152.75p, a six-month high. 888 Holdings firmed 7p to 244p. The smaller online gambling stock BetonSports, which runs sports books on basketball, American football and baseball, also benefited, adding 9.25p to 169p.
Status: Online

04-30-06, 03:46 PM	#2 (permalink)
dananderson32 DANO THE GREEK Join Date: Apr 2005 Location: BUFFALO Posts: 3,067	taxing in the US nooooooooooo it cant be! whats new fucking american govt favorite word is TAX! __________________ "Go against all odds" Beanie Segal ""YOU WANNA HATE ME THAN HATE ME WHAT CAN I DO BUT KEEP GETTING MONEY"- NAS "a lot of rappers be like one time wonders couldnt say a fly rhyme if their was one right under their noses" - gangstarr YTD 57-73 -60.8 units (unposted record wont count jsut used to keep track of plays i forgot to post but did bet) YTD 157-158-4 +0.1 units (nba record) ytd 235-250-8 -234.5 units (cbb record) YTD 95-113-5 -41.82 UNITS (mlb record) YTD 10-6-1 +10.8 UNITS (UNPOSTED NFL WONT COUNT TOWARDS RECORD JUST TO TRACK FOR MY OWN PROFITS)
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04-30-06, 06:13 PM	#3 (permalink)
naught33 SCI Forum Moderator Join Date: Dec 2004 Location: Scarsdale, NY Posts: 13,666	work hard for your $$ only to watch it go somewhere else lol __________________ -naught33 "You miss 100% of all the shots you don't take"-Wayne Gretzky "No one, and I mean no one, comes into our house and pushes us around"-coach from the movie Rudy
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