Gambling shares rise ahead of possible UIGEA challenge

2007-02-22 16:35:45

Rumours surrounding a possible congressional challenge to last year's Unlawful Internet Gambling Enforcement Act (UIGEA) have meant that shares in online gambling firms have risen on the London Stock Exchange, it has been revealed.

However, continued uncertainty as to the status of any such challenge means such changes are likely to be temporary. In light of the US ban many firms have invested in other markets across the world.

The congressman in question, Barney Frank, was thought to be preparing to challenge existing US legislation in an attempt to have it repealed, but a spokesman for the congressman declined to speculate on such possibilities.

In the interim online software developers such as CryptoLogic have turned their attentions to other markets, including Asia and areas of Europe including Holland, Scandinavia and the UK.

With other markets such as Spain and South Africa gradually opening their doors to online gambling, there remain a number of markets available to both gamblers and gaming companies alike.


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