PartyGaming Seen as “Key Beneficiary” of New iGaming Laws in US
July 28, 2010 (CAP News Wire) – As Barney Frank’s Internet gambling regulatory bill, HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act, gets farther in Congress, the media is speculating more and more on the potential impact the bill would have.
The UK’s The Independent, one of the world’s most widely respected news journals, has stated that ” PartyGaming would be the likely key beneficiary … We estimate the potential [underlying profits] uplift could be 94 per cent for PartyGaming and 58 for [rivals] bwin and 888.” (The paper cites recent research from Barclays Capital when stating this point.)
This is likely good news for PartyGaming, which has recently opened business operations in California in anticipation of entering a newly regulated U.S. market.
“Industry insiders believe Congressman Frank’s call for a vote indicates that he is confident of victory,” the article adds. “But they are sceptical anything substantial will change before next year, as few politicians will relish debating this issue before November’s midterm elections.”
Meanwhile, the markup for a bill intended to regulate online gambling on a federal level in the United States was moved from Tuesday to Wednesday. Read more here.
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