The rumour was that US Congressman Barney Frank, who is chairman of the Financial Services Committee in Congress is preparing an attempt to have the legislation repealed, and on the strength of it Party Gaming shares surged by some 20 percent.
UK business media contacted the politician's office in Washington, only to be told by a spokesman that although Frank was "not in favour" of the restrictions facing online gambling as a result of the Unlawful Internet Gambling Enforcement Bill, there was nothing on the agenda right now to reverse the bill.
He refused to say whether the Congressman was considering such a move.
Other possible explanations for the revitalised interest in online gambling stock then emerged, including a theory that the Party Gaming group may be a bid target for both online betting groups and real-world bookmakers, or manouvreing ahead of PG's results announcement scheduled for next month amid talk that the company is growing market share as regular players seek out the busiest online poker tables.
|
|
|
