UK Online Gambling Stocks Hot, Says Wall Street Journal
November 16, 2009 (CAP Newswire) – The online gambling business just seems to be getting stronger and stronger, particularly in the UK.
The Wall Street Journal, one of the world’s most respected sources of global financial information, reports that British Internet casino and online betting stocks have been “upgraded,” based on a “buy” rating placed on the industry there by Deutsche Bank.
“[Deutsche Bank] believes the sector is an attractive place for investors to be during the next 12 months,” the article reported. “It raised PartyGaming and Playtech, both to buy from hold, and upped PartyGaming’s target price to 310p from 270p, and Playtech’s to 443p from 420p.”
This means that the brands are enjoying stronger growth and improved financial performances — good signs that they're still able to bring in players. The story also related how the bank initiated ratings for other major UK online gaming companies 888 and Sportingbet, labeling both with “buy” status. Read the Wall Street Journal’s story here.
That's the good news; less positive is the report out of the UK’s Independent magazine that Britain's online poker “boom” may be slowing down. However, that’s just speculation, based on the assumption that the incredible levels of growth Internet poker has experienced in the past few years there — 72 percent by the last measure — cannot be sustained. However, financial world realities often don’t play by those sorts of rules. Read that story here.