ONLINE CASINO MARKETS REACT TO CARRUTHERS ARREST

20.07.2006, 01:15

ONLINE CASINO MARKETS REACT TO CARRUTHERS ARREST

London and Canadian online gambling stocks take the hit from DoJ action

Online gambling executives and investors alike will be anxiously watching the stock market scene today (Wednesday) in the wake of stock declines that have hammered the industry following the arrest and continued detention of Bet on Sports CEO David Carruthers over the weekend.

Late Tuesday, London gambling stocks and to a lesser extent Canadian gambling shares had declined sharply, presumably as a result of nervous investors dumping their holdings.

BetonSports shares fell by as much as 25 percent before trading was halted at the company's request, but the biggest fallout hit Sportingbet, where shares fell by 100p to 282p, almost half their level before BetOnSports announced on Monday that Carruthers, had been detained. The stock fell 36 percent Tuesday after falling 13 percent on Monday...

PartyGaming fell 17¾p to 85¼p, down from a flotation price last year of 116p.
888 Holdings, fell 24½p to 168½p.
Leisure and Gaming shares fell 21p to 71½p.
BetandWin.com Interactive Entertainment AG tumbled 24 percent.
Playtech lost almost a third of its price, as confusion reigned about the scope of the DoJ's planned actions.
Cryptologic shares dropped $3.66 to $21.22 or 14.7 percent on the Toronto Stock Exchange.
LasVegasFromHome.com Entertainment Inc. were down 15 percent, dropping to 17¢.

Before trading in London started on Wednesday, the dismal picture looked like this:

Playtech down 28 percent (down 33 percent at one stage)
Neteller down 15 percent
Fireone down about 20 percent
Empire Online down 8 percent
SportingBet down 44 percent
888.com down 16 percent
Partygaming down by over 17 percent, a drop of over 22 percent in 2 days
Betonsport down 16 percent
Fairgound down 5 percent

Read more at www.online-casinos.com/news/news2523.asp

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20.07.2006, 01:15	#1 (Permalink)
naderctoll Gast Beiträge: n/a Credits: 0 [Check]	ONLINE CASINO MARKETS REACT TO CARRUTHERS ARREST London and Canadian online gambling stocks take the hit from DoJ action Online gambling executives and investors alike will be anxiously watching the stock market scene today (Wednesday) in the wake of stock declines that have hammered the industry following the arrest and continued detention of Bet on Sports CEO David Carruthers over the weekend. Late Tuesday, London gambling stocks and to a lesser extent Canadian gambling shares had declined sharply, presumably as a result of nervous investors dumping their holdings. BetonSports shares fell by as much as 25 percent before trading was halted at the company's request, but the biggest fallout hit Sportingbet, where shares fell by 100p to 282p, almost half their level before BetOnSports announced on Monday that Carruthers, had been detained. The stock fell 36 percent Tuesday after falling 13 percent on Monday... PartyGaming fell 17¾p to 85¼p, down from a flotation price last year of 116p. 888 Holdings, fell 24½p to 168½p. Leisure and Gaming shares fell 21p to 71½p. BetandWin.com Interactive Entertainment AG tumbled 24 percent. Playtech lost almost a third of its price, as confusion reigned about the scope of the DoJ's planned actions. Cryptologic shares dropped $3.66 to $21.22 or 14.7 percent on the Toronto Stock Exchange. LasVegasFromHome.com Entertainment Inc. were down 15 percent, dropping to 17¢. Before trading in London started on Wednesday, the dismal picture looked like this: Playtech down 28 percent (down 33 percent at one stage) Neteller down 15 percent Fireone down about 20 percent Empire Online down 8 percent SportingBet down 44 percent 888.com down 16 percent Partygaming down by over 17 percent, a drop of over 22 percent in 2 days Betonsport down 16 percent Fairgound down 5 percent Read more at www.online-casinos.com/news/news2523.asp