Speculation Regarding Neteller Founders

Gambling911 is speculating that the sudden jump in gaming stocks may be attributed to rumors that the DOJ will drop its case against Neteller.

The Guardian (who Gambling911 was basing their story on) said:

Elsewhere the gaming sector was in demand. 888 added 4p to 120p on talk that Ladbrokes was about to come out with its bid, although some traders doubted this, saying Ladbrokes had been distancing itself from a move on 888 recently.

Other tales to explain the buoyancy in the gaming world included a suggestion that charges against the founders of online payment group Neteller, suspended at 176p, were about to be dropped in the US. Alternatively there were hopes the US would introduce a new bill to water down some of the more draconian anti-online gaming measures. There was even talk that Gordon Brown was planning tax breaks for the industry in next week’s budget.

Whatever the reason, PartyGaming put on 3.5p to 41.5p and Sportingbet 2.5p to 58.25p.

Bill Rini
Bill Rini is currently the Head of Online Poker for WSOP. He has been working in the online poker industry since 2004 and has held management roles at Full Tilt Poker and PartyPoker.