- Online gaming companies that operate in the US—and one that hopes to operate in the US soon—have received a significant amount of attention due to the prices of their publicly traded stock.
- Last week it became apparent that Caesars has not only reversed its position on “bad actor clauses” in the US online gaming legislation, but it also announced that it is teaming up with the once-considered “bad actor” PokerStars in an attempt to get online poker legislation passed in California.
- Additional games of skill of been added to the list of events that can be gambled on in the state of New Jersey.
Stock Prices Rise and Fall
Online gaming companies that operate in the US—and one that hopes to operate in the US soon—have received a significant amount of attention due to the prices of their publicly traded stock. All of the action has been prompted by takeover talks.
The stock price of 888 Holdings—which has its software operational in all three regulated markets in the US—bounced around quite a bit this past week as the company entered into talks with William Hill about a possible takeover. The talks broke off because reportedly, a major shareholder in 888 was not satisfied with the offer.
Bwin.party, which operates in New Jersey, saw its stock take a roller coaster ride as well, as acquisition rumors swirled throughout the industry. According to a recent article in the Wall Street Journal, the company is currently in talks with Amaya.
US watchdog organization, Financial Industry Regulatory Authority (FINRA) has launched an investigation into the run-up in stock price of Amaya prior to its acquisition of PokerStars last year. While Amaya itself is not the subject of the investigation, FINRA is looking at approximately 300 investors that profited handsomely by purchasing stock and options prior to the public announcement of the acquisition.
