International edition
September 29, 2020

Positive figures

PartyGaming sees rise in shares

(UK).- Various stock market rumours have prompted a spell of tentative purchases in online gaming company PartyGaming, increasing share figures from to 41½p to 45¼p at the close of yesterday's markets.

C

onfident buyers hedged all their bets on the company amid reports that veteran Congressman Barney Frank, Democrat chairman of the House Financial Services Committee, wants to repeal the US's anti-gambling ruling and has called for a two-year reprieve.

Last March, Frank explained: “Adults are entitled to do with their money what they want to do.”

Other factors that may have caused an increase in share interest is reported takeover talk and indications that full-year figures on March 1 will easily exceed estimates.

Sportingbet also saw a recovery from its weakest position last year that saw the September arrest of the company's former chairman Peter Dicks followed by the sale of its US gaming division for the token sum of a dollar after the introduction on the Unlawful Internet Gambling Enforcement Act.

The hint of a US amnesty left the stock 5p up at 40p on a generous turnover of £13.8 million, a sharp increase on Tuesday’s figure of £983,000.

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