Gambling News - 18th August 2007
It's time for our weekly summary of the biggest online gambling news of the week and we start with PartyGaming and look at how their shares have plummetted this week. They are now at the lowest since the US introduced new gambling laws.
Also in this weeks issue:
Ladbrokes to Partner with Tabloids
Bowman Holdings go Mobile
Best Games Goes Bingo
PartyGaming Shares Plummet
PartyGaming, the popular publicly listed online gaming company specialising in poker although now has a range of gaming sites, has reported a share price drop to an all time low. This week, the company’s shares traded at only 27p (.54c US) – the same price that share prices reached directly after the Unlawful Internet Gambling Enforcement Act was signed into law in 2006.
In pre-UIGEA days, PartyGaming traded in a much higher price bracket. The company initially began floating in June 2005 at 122 p and reached a peak in August of that same year when it traded for a while at 173 p. Since PartyGaming was forced to close its doors to US players, it has lost a major part of its business. Of course when reading this item, also take into account the drastic drops we've seen in the markets this week. However Partygaming are definately heading in the wrong direction.
What's your views? A good time to pick up a cheap stock? Email Snippets (at) Doolallys.com
Ladbrokes to Partner with Tabloids
Ladbrokes, the UK bookmaker that offers Ladbrokes Poker, Ladbrokes Casino and a range of other online gaming options, will become the official gaming partner of two of the country’s most popular tabloids – the Sun and the News of the World. Readers of both newspapers will be provided with exclusive online poker and sportsbetting services through a co-branded partnership on TheSun.co.uk and NewsoftheWorld.co.uk. Tabloid readers who access these sites will be able to enjoy a full suite of betting services through one seamless account. A spokesperson for the commercial development division of the newspapers’ parent company said: “Ladbrokes is an ideal partner as, like us, they are a world-leader in their field and share our red banner.”
Bowman Holdings go Mobile
Bowman Holdings International, an online gambling group with a strong presence in several locations in the world, including South Africa, Europe and Asia, has announced that it has been bought over by Mobile Gaming Solutions. The latter provides remote betting and casino game services via handheld mobile devices and will offer these services to Bowman customers as the company’s shareholders give their thumbs up on the deal. Customers will now have access to one of the most comprehensive collections of mobile and online gaming choices in the industry, thanks to the new partnership.
Best Games Goes Bingo
Not long after the online casino group, Best Games, launched its successful poker site, Best Poker, this year, the company has announced that it is partnering with St. Minver to bring its customers a new bingo site, to be known as Best Bingo. The site will operate off Parlay Bingo’s platform and will provide players with great bingo entertainment, including progressive jackpots and state-of-the-art chat features. St. Minver runs an international bingo network and will provide Best Games with an instant database of over 800,000 registered customers, 90,000 of whom are active players through the network.
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