U.S. Fund Freeze Gives European Companies a Boost

**Nathan** · 06-11-2009 08:43 PM

PartyGaming, Playtech, 888, and Sportingbet all report rises in share prices

From the CAP News page:

June 11, 2009 (CAP Newswire) -- As the fallout over the U.S. government’s attempt to freeze some $33 million in online poker money connected to U.S. companies PokerStars and Full Tilt continues, it's appearing more and more likely that the action probably won’t get too far. Reports hint at the fact that some of the money has already been unfrozen, and many legal experts are predicting the action won’t withstand legal challenge.

Nevertheless, the action has caused a bump to the share prices of those companies' overseas competitors. Leading European gaming companies 888, PartyGaming, Sportingbet, and Playtech are all reporting increased share prices, with PartyGaming boasting the biggest gains. (Some of that rise may come from positive buzz over the company’s recent announcement of a new partnership with U.K. broadcaster “Five” -- read more about that here).

Meanwhile, the money freeze has prompted European Union officials to renew their request that the U.S. legalize online gambling, or at least cease its prosecution of gaming companies. The possibility that the issue may be taken to the World Trade Organization (WTO) still remains, although it’s likely that EU officials would first wait to see whether or not Barney Frank’s anti-UIGEA bill passes the U.S. Congress.

Click here for more details at the Times Business section.

**mediamanoz** · 06-12-2009 12:23 AM

Reporting from down under in Australia with our Media Man Australia website network, I can report that we have seen a recent boost in both traffic and conversions with Virgin Games - Virgin Casino, PartyCasino - PartyGaming - PartyPartners, and PKR and Casino Club look to be on the upswing also. William Hill looks to be mildly up, however some of their casino brands recently received some negative press from another iGaming portal, but William Hill Online are reported as fixing the situation with a few brands they inherited. Our numbers being up may also have something to do with the upgrading of our World Casino Directory, World Gaming Directory and Multi Currency Casino profiles, and some mainstream coverage of our operation, however I don't believe in coincidences of that nature. Summary - European casino and igaming numbers up and US numbers down, as of this writing. Party is powering and the extra games and new data system at Virgin Games is really heating up things.
Greg Tingle
Director
Media Man Australia
Casino News Media
Classic Slots Online
Poker News Media
Casino Travel Media
Australian Casino News

**splinterfree** · 06-12-2009 02:12 AM

Originally Posted by mediamanoz

Reporting from down under in Australia with our Media Man Australia website network, I can report ...

can we treat this as an official report or what?

**mediamanoz** · 06-12-2009 03:26 AM

I'm also a qualified journalist and I've gone on record with my own findings, so it's fair to say its official... if the CAP moderator /s / keeper of the gate / online editors give it the all clear. I'm not filing it as a press release or even turning it into an actual article, however it's my findings, and this is the official CAP forum. Readers, have a good weekend.
PS: a big G'day to our European and American igaming friends and associates.
Greg Tingle
Media Man Australia
Casino News Media
Bondi Beach, Sydney, Australia

Originally Posted by splinterfree

can we treat this as an official report or what?

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