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PartyGaming Stocks Jump in Anticipation of New Bill

May 6, 2009 (CAP Newswire) — Shares for PartyGaming, the Gibraltar-based online gambling firm that is among the world’s largest, jumped 7.3 percent to $4.20 this morning, presumably in anticipation of Barney Frank’s impending legislation that seeks to regulate online gambling in the United States.

It’s understandable that PartyGaming would be eager to see the UIGEA repealed. The company’s recent plea agreement with the U.S. government places it once more in good graces with American regulators, and it’s likely to benefit from that arrangement once the legal situation resolves itself.

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