US Gambling Laws Threaten £5.5bn Float
Last updated: 13/03/2008 16:27
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Partygaming, the Gibraltar-based owner of Party Poker, the world's biggest online poker site, may be forced to pull its £5.5 billion London float as fears grow about the legality of internet gambling in the United States.
Analysts at blue-chip US institutions who would be expected to buy shares in PartyGaming said this weekend they will not automatically back the firm and will need convincing that the US government will not harm the company. Online gambling is illegal in America.
The situation could force PartyGaming either to lower its target price or possibly pull the float altogether.
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