Online gambling shares soare
Shares in online gambling companies soared today after a bad day in the US congress for the Internet Gambling Prohibition Act.
Republican Senator Bob Goodlatte’s attempt to outlaw certain types of online gambling, including online casinos, was looking badly damaged after yesterday’s debate in the House of Representatives.
It appeared that confusion over the bill’s carve outs appears to have been the major problem, causing industry experts to predict that the gambling bill is unlikely to be passed, its poor reception had an immediate effect on the gambling stock markets, which saw shares in some companies jump by as much as 11 percent in a single day.
There is still the Kyl Bill to come, but no second debate was scheduled on Goodlatte’s Internet Gambling Prohibition Act, which is usually a bad sign for a piece of pending legislation.
Republican Senator Bob Goodlatte’s attempt to outlaw certain types of online gambling, including online casinos, was looking badly damaged after yesterday’s debate in the House of Representatives.
It appeared that confusion over the bill’s carve outs appears to have been the major problem, causing industry experts to predict that the gambling bill is unlikely to be passed, its poor reception had an immediate effect on the gambling stock markets, which saw shares in some companies jump by as much as 11 percent in a single day.
There is still the Kyl Bill to come, but no second debate was scheduled on Goodlatte’s Internet Gambling Prohibition Act, which is usually a bad sign for a piece of pending legislation.
posted by Glenn at Friday, April 07, 2006
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