Given the past week's declines, this float takes courage

One broker unfazed by all the doom and gloom in London this week was Collins Stewart, which confirmed its plans to go ahead with the flotation of Continent 8 Technologies, a company that supplies internet services to online gaming companies.

The broker's decision comes as online gaming stocks remained volatile in the wake of the arrest of a UK executive in America.

"I'd be amazed if they get it away. Amazed," said one analyst this week. "It all depends on the company's exposure to the United States, but all the money is leaving the sector, not going into it. There are a lot of very upset investors out there."

He said that Sportingbet's shares, for example, have fallen heavily in the past five days. Even technology companies that offer services to online gambling companies, such as Neteller, have seen their shares decline, however temporarily it may be.

Continent 8's main business is running the internet infrastructure of the Mohawk territory of Kahnawake in Canada (see previous InfoPowa reports), which, like the Indian reservations in the US, has become home to a wide range of gambling companies.

Reports earlier this year suggested the company, registered in the Isle of Man, was looking to raise more than $100 million (GBP 54 million).

A spokesman for Collins Stewart said: "Continent 8 is a company with a dominant position in providing hosting services to the global online poker and casino industry. The marketing was in process before recent events and we are continuing with the float process as we have great confidence in the company."

Meanwhile, UK gamblers were given a chance to air an opinion on the proposed U.S. ban when the Telegraph newspaper in London conducted a snap poll on the question: "Do you think the US would be able to stop gambling on the internet?"

The size of the vote was not disclosed, but the results were:

Yes: 24 percent

No: 76 percent

Online Casino News courtesy of InfoPowa