Party Gaming Bounces Back

Published: Wednesday, April 11, 2007 Online-Casinos.com

PARTY GAMING BOUNCES BACK

Since the dark and gloomy days when the UIGEA passed, shares have staged a comeback


One of the world's leading online gambling groups, Party Gaming has again been catching the eye of analysts and investors due to the remarkable bounce-back achieved by its share price.

Last year in the post-Unlawful Internet Gambling Enforcement Act doom and gloom, the group's shares plunged as far south as 76 percent, according to the UK newspaper The Daily Telegraph. The company had abandoned the very significant part of its business that emanated from the USA and the general online gambling environment was skittish to say the least.

Since then Party has been beavering away at extending its reach into other markets in Europe and Asia, and the growing investor perception appears to be that the group has successfully weathered the US storm. Shares have recovered 66 percent this year alone from the all time lows of 2006

Darren Sinden of Lite Trading explains that a number of factors have put Party Gaming back on a winning streak. "Since the start of the year, talk of consolidation in the sector and hopes of a possible reversal of the worst of last autumn's U.S. gaming regulations, combined with figures from the company showing that it is seeing recovery in its core markets, have led to a pick-up," he says.