Talk of PartyGaming settlement with U.S. premature
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PartyGaming Plc saw its stock fall as reports that the online gaming and poker company was nearing a settlement were called “premature.”
PartyGaming is trying to resolve the fact that it illegally facilitated gambling in the U.S. in 2006.
According to majorwager.com:
PartyGaming dropped as much as 8.3 percent as Numis Securities analyst Richard Carter said a deal related to the company’s activities in the U.S. after an online-gaming ban may be “several months off.” The shares rose the most in seven months in London on May 30 on speculation it had reached an agreement.
“After extensive channel checks, we believe talk of an imminent settlement is premature,” Carter, who has a “buy” recommendation on the stock, wrote today. “We continue to believe that PartyGaming shares offer compelling medium-term value, although we may see some share-price weakness over the coming days.”
According to another story, the Interactive Media Entertainment & Gaming Association said it will continue to challenge of the legality of the Unlawful Internet Gaming Enforcement Act.
