Euro poker stocks soar after Friday’s bombshell
US poker players are feeling left out in the cold on Monday morning, European poker players are likely looking at a significant decrease in traffic, and more than likely the top three US online poker rooms are busy putting together a team of expensive defense attorneys, but there is one segment of the industry that is likely ecstatic over the recent developments in the online poker world: Publicly traded online poker rooms/networks that pulled out of the US market after UIGEA legislation was enacted in October 2006.
Early stock trading in European markets has seen the newly merged bwin.party digital stocks soar some 35%, while iPoker Network and 888 Holdings have also seen a significant bump in stock prices.
What will make these companies extremely attractive in the coming days is all of the players now looking for a new home. Even though PokerStars, Full Tilt Poker and Absolute/UB Poker are still serving European markets –the latter of which has given the US government the middle finger and is still serving US players as well—many players are concerned with the overall long-term viability of these sites and are looking for a “safer” site to play on.
So it would seem that the long-term approach enacted by Party Poker and others might have been the correct play from an EV standpoint, now that the mere survival of PokerStars, Full Tilt Poker and the Cereus Network is in question.
Tags: Bombshell, Bump, Defense Attorneys, Digital Stocks, European Markets, Full tilt Poker, Middle Finger, Monday Morning, Online Poker, Party Poker, poker players, Poker Rooms, Poker World, Recent Developments, Standpoint, Stock Prices, Stock Trading, Term Approach, Term Viability, Us Government
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