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Party Gaming Bounces Back
Since the dark and gloomy days when the
UIGEA passed, shares have staged a comeback
One of the world's leading online gambling groups, Party Gaming
has again been catching the eye of analysts and investors due to
the remarkable bounce-back achieved by its share price.
Last year in the post-Unlawful Internet Gambling Enforcement Act
doom and gloom, the group's shares plunged as far south as 76 percent,
according to the UK newspaper The Daily Telegraph. The company had
abandoned the very significant part of its business that emanated
from the USA and the general online gambling environment was skittish
to say the least.
Since then Party has been beavering away at extending its reach
into other markets in Europe and Asia, and the growing investor
perception appears to be that the group has successfully weathered
the US storm. Shares have recovered 66 percent this year alone from
the all time lows of 2006
Darren Sinden of Lite Trading explains that a number of factors
have put Party Gaming back on a winning streak. "Since the
start of the year, talk of consolidation in the sector and hopes
of a possible reversal of the worst of last autumn's U.S. gaming
regulations, combined with figures from the company showing that
it is seeing recovery in its core markets, have led to a pick-up,"
he says.
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