Gaming shares on the rise as US softens
After the DoJ released an opinion on what gambling activities the Wire Act of 1961 covered, shares in online gambling stocks have rocketed as dealers reacted to online poker not being affected by the act.
At the very least the statement allows state level online poker legislation and it is seen as just the beginning before the US Congress bring in full legislation and open the floodgates.
An analyst at Panmure Gordon said “In effect this will make state online lottery, casino and poker legal, where appropriate state regulations exist and lay the foundations for interstate, non-sports gambling.”
Ladbrokes, William Hill and 888 Holdings have all seen promising increases in stock with 888 being the only UK-listed company that is to receive a Nevada Gaming approval to supply their already successful software to Caesars Entertainment which would allow them to operate in Nevada.
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