The online gaming firms bwin.party and Playtech both jumped more than 20% on Wednesday following a US government ruling on gambling.
After the close in London on the 23rd the US Department of Justice handed down a decision which implied that the so called "Wire Act", which prohibits certain forms of betting, may not apply to online gaming.
International online betting firms have been excluded from the lucrative US market precisely because it was felt they fell under the scope of the Wire Act.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
If they are allowed to re-enter the United States market it could give them a huge boost in revenues.
At the close bwin.party had climbed 20%, Playtech was up 15%.
BS
-
Is Donald Trump's re-election a wake-up call for Europe?Donald Trump will turbocharge the US economy – and expose Europe's weakness
-
German chancellor Olaf Scholz's coalition collapses – what went wrong?EU Economy After Olaf Scholz fired a key minister, Germany's coalition has collapsed. But political turmoil in the country couldn’t have come at a worse time
