Online gambling stocks tumble as the new bill made public

Following the announcement of Congressman Barney Frank on his proposed mediocre online gambling bill, stocks of online gambling companies experienced huge drop on the LSE.

Shares of Party Gaming (LSE:PARTY) fell 12.82% to 51.75 at 16:30 GMT and 888 Holdings (LSE:888) was down 2.26% trading at 118.75 at the same time.

The proposed regulation of online gambling in the United States seems to had cooled off investors with hopes for repeal of the anti-online gambling law, rather than the totally different bill introduced earlier.

Other online gambling companies, with primary non-American customers in the past, were affected on a smaller scale.

04/26/2007