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UK
Casino Times
> Casino
News
31 January 2006
PartyGaming Slides Under Shadow
Of New Regulation
Partygaming,
the company behind Party
Poker, fell nearly
6 per cent as the spectre of a British government clampdown
on online gaming encouraged profit-taking after last week's
strong fourth-quarter revenue numbers from the
Online
Poker website
operator.
Speaking in the House of
Commons, Richard Caborn, the minister responsible for
gambling, raised the possibility of international
restrictions to protect internet gamblers.
Mr Caborn said that Tessa
Jowell, the Culture Secretary, would be inviting her foreign
counterparts "to see whether we can look at some
international regulation whereby we can look at these issues
of problem gambling on the internet".
He said that his
department planned to involve credit card issuers in
discussions.
That prospect pulled Party
Gaming 8¼p lower at 132¾p, with its mid-cap rival
888 Holdings off 11p at 209p. However, analysts pointed out
that, as both companies derived a significant proportion of
their business from America, where internet gambling is
deemed to be illegal, the impact of any such moves would be
limited.
Related pages:
PartyGaming
Surges On Top 5-Year UK
Float
Party
Gaming Flotation Fully Subscribed
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