Gambling giants get easier US ride
By Julia Kollewe in London and Stephen Foley in New York
Published: 07 April 2006
The poker giant PartyGaming and other UK online gambling groups breathed a sigh of relief yesterday after US politicians raised objections to proposals for a clampdown on the industry.
Shares in PartyGaming and its rivals 888 and Sportingbet, which get much of their business from the US, rebounded by 10 per cent after being hit in recent weeks by three bills introduced in the US Congress to stamp out the $12bn (£7bn) industry.
A debate by a House of Representatives Judiciary Subcommittee on Wednesday threw up opposition to a prohibition bill introduced by the Virginia Congressman Bob Goodlatte. The bill seeks to amend a 1961 federal law that bans gambling over telephone wires to include the internet. Much of the discussion centred on the fact that the bill targets certain types of online gaming while permitting others, such as betting on horse racing.
The poker giant PartyGaming and other UK online gambling groups breathed a sigh of relief yesterday after US politicians raised objections to proposals for a clampdown on the industry.
Shares in PartyGaming and its rivals 888 and Sportingbet, which get much of their business from the US, rebounded by 10 per cent after being hit in recent weeks by three bills introduced in the US Congress to stamp out the $12bn (£7bn) industry.
A debate by a House of Representatives Judiciary Subcommittee on Wednesday threw up opposition to a prohibition bill introduced by the Virginia Congressman Bob Goodlatte. The bill seeks to amend a 1961 federal law that bans gambling over telephone wires to include the internet. Much of the discussion centred on the fact that the bill targets certain types of online gaming while permitting others, such as betting on horse racing.
By Julia Kollewe in London and Stephen Foley in New York
Published: 07 April 2006
The poker giant PartyGaming and other UK online gambling groups breathed a sigh of relief yesterday after US politicians raised objections to proposals for a clampdown on the industry.
Shares in PartyGaming and its rivals 888 and Sportingbet, which get much of their business from the US, rebounded by 10 per cent after being hit in recent weeks by three bills introduced in the US Congress to stamp out the $12bn (£7bn) industry.
A debate by a House of Representatives Judiciary Subcommittee on Wednesday threw up opposition to a prohibition bill introduced by the Virginia Congressman Bob Goodlatte. The bill seeks to amend a 1961 federal law that bans gambling over telephone wires to include the internet. Much of the discussion centred on the fact that the bill targets certain types of online gaming while permitting others, such as betting on horse racing.
The poker giant PartyGaming and other UK online gambling groups breathed a sigh of relief yesterday after US politicians raised objections to proposals for a clampdown on the industry.
Shares in PartyGaming and its rivals 888 and Sportingbet, which get much of their business from the US, rebounded by 10 per cent after being hit in recent weeks by three bills introduced in the US Congress to stamp out the $12bn (£7bn) industry.
A debate by a House of Representatives Judiciary Subcommittee on Wednesday threw up opposition to a prohibition bill introduced by the Virginia Congressman Bob Goodlatte. The bill seeks to amend a 1961 federal law that bans gambling over telephone wires to include the internet. Much of the discussion centred on the fact that the bill targets certain types of online gaming while permitting others, such as betting on horse racing.
