BWin Shares Dip 1st Day Resumed Trading
Published: Wednesday, September 20, 2006 Online-Casinos.com
BWIN SHARES DIP ON FIRST DAY OF RESUMED TRADING (Update)
Declines of up to 17 percent reported in Vienna
Reuters reports that the weekend detention in France of two top executives from the Vienna listed betting company Bwin inevitably led to a decline in the share price when trading resumed on Tuesday this week.
Bwin shares slid 17 percent when trading resumed after co-CEOs Manfred Bodner and Norbert Teufelberger were released on bail but warned that they could face charges under French gambling laws (see previous Online-Casinos.com/InfoPowa reports)
A court in Nanterre, France, will decide by the end of the year whether to formally charge the company, Bwin said. The stock, which had been suspended since Friday, fell Euro 4.37 to Euro 21.28.
Separately, the French budget minister, Jean-François Copé, said he wanted to introduce "more severe sanctions" for gambling companies that advertise illegally in the country. The Bwin executives were arrested after announcing a deal to sponsor the Monaco soccer club, which plays in the top French division.
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