• Shares in PartyGaming rebound

July 13, 2006 –After the US House of Representatives decision to pass a bill effectively clamping down on online gambling knocked industry share prices, poker giant PartyGaming's shares rebounded strongly, climbing 4.3 per cent to 107p per share. PartyGaming gets roughly 84 per cent of its business from America, while 888 Holdings, which gets about 54 per cent of its business from the country, saw its shares steady at 208p. Online betting firm Sportingbet's shares rose by 2%. City analysts were quick to downplay the effect of the bill with ABN Amro declaring: "What changes in practice following the passage of this bill in the lower house? Nothing. PartyGaming and others can continue to operate as they currently do." Dresdner Kleinwort went on to say: "There are only 15 congressional days until the summer recess and 32 before the November elections. It, therefore, seems unlikely that there is time to progress through all the necessary committees and sub-committees as a standalone bill "Our view is unchanged - the current status quo will remain for many years to come."

> Read the full story here Source: Ateonline.co.uk

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