Online gaming boost pushes London to new high


Forum Cheermeister
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Jun 30, 1998
Online gaming boost pushes London to new high
By Michael Hunter
Published: April 6 2006 08:52 | Last updated: April 6 2006 14:53

Londons main equities index hit a fresh five-year high on Thursday, buoyed by a stellar performance from internet gaming stocks.

Reports that proposed legislation in the US that would ban internet gambling had not attracted as much support as expected sent shares in PartyGaming, the worlds largest online gaming site, surging 1

1.8 per cent to 144p.

According to media reports, a US House of Representatives Judiciary subcommittee hearing was critical of the Internet Gambling Prohibition Act, sponsored by Republican Robert Goodlatte, which is seeking to outlaw certain forms of online gambling.

Amid hopes this could stop the proposed legislation in its tracks, other online gaming stocks also advanced, with 888 Holdings rising 4 per cent to 229p and Sportingbet climbing 7 per cent to 407p.

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