Online Gambling Stocks Survive The Brexit Vote

Published Wednesday, August 24, 2016 - Online-Casinos.com
Online Gambling Stocks Survive The Brexit Vote

Britain has voted it will leave the European Union and that move is far from a conclusion. The vote has resulted in some strange action regarding the stocks related to online gambling companies. The situation in Britain’s government has been described as “chaotic” by the Sunday Times recently.

 How the delaying of the actual departure from the E.U. will affect the stock value of gambling firms registered in Britain will be followed closely by investors. Britain's exit from the European Union could be delayed until at least late 2019 the Sunday Times reported, saying that it obtained the information from reliable sources. Invoking "Article 50" sets the clock for a two-year deadline to leave the European Union and some senior politicians are calling for an immediate exit.

The English Premier League is just getting going sending the stocks of gaming firms in Britain to the customary upward trend. The gaming public doesn’t seem to really care how the economic situation will be compromised in Britain with the exit vote. The knowledge that the world has not come to an end with Brexit has kept the value of gambling stocks from tumbling.

Many of the strong online gambling companies in Britain such as Ladbrokes, which is experiencing its sharpest and most prolonged move to higher ground since 2009 have rebounded quickly. The Ladbrokes stock is up 52% after Brexit which erased two years of losses in a single month. William Hill is up almost 40% in six weeks as well as Paddy Power Betfair, which is a model portfolio of larger holdings, is up 50% since the vote, but still 11% below highs of the year.

The clear evidence is in online betting in the U.K. remains a good bet for now as the government gets its act together the people will still want to punt on football and play casino games.

 

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