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Euro Poker News: EU May Challenge US Over Act

Party Poker's Stock Up Over 10%

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In response to the US Department of Justice's recent aggressive overtures towards the online gaming community, the European Union has stepped up its own saber-rattling. The Internal Market Services division of the European Union has raised the possibility of legally challenging the United States over the Unlawful Internet Gambling Enforcement Act.

Many in the EU feel that the act is overly protectionist and monopolistic. Charlie McCreevey, European Commissioner for Internal Market Services, was recently quoted as saying, "It is probably a restrictive practice and we might take it up in a different forum." The next step would be to report the matter to the European Union Trade Commissioner.

The market has viewed this as a positive development, with PartyGaming's stock being the largest beneficiary. The stock is up almost 10 percent since news of the potential legal action against the US came out.

For those in the United States considering buying Party's stock, which is down over 70 percent since the UIGEA, the ticker is PYGMF.PK. The stock is currently trading at $0.50 per share.

For more Happenings in Europe, visit CardPlayerEurope.com

 
 
 
 

Comments

detroitjunkie
over 14 years ago

AhHHHH the other form of gambling that the United States just loves, and is actually built on and centered around - stock investments! I recently opened a stock account on SOGOINVEST.COM. They are wonderful, first 90 days trades are just $1, the site has great research tools and is easy to use. I enplore everyone to start thinking this way - take your poker bankroll and put 10% of it into a stock account every month, and if you spend the time it takes to get good at poker getting good at stock purcheses, you will forever make LEGAL money. If you are going to goto SOGOINVEST.COM, let me know, perhaps we can do a referral thing and both profit from it!

 
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SevenKidsPoppy
over 14 years ago

Poker winnings are also legal, but thanks for the tip.

 
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detroitjunkie
over 14 years ago

Yes, sorry I meant you will be making money that is legally allowed into your USA bank account.

 
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OldBookGuy
over 14 years ago

JIM CRAMER’S MAD MONEY (CNBC) is going to do a segment today (show to air at 6:00 & 11:00 PM EST) concerning the DoJ investigation of several banks and the potential liability and impact on the American investor who owns stocks in the banks in question if a Nexus is established between Neteller / Gambling Industry and the IPO’s they handled.
Yes, these banks are in the U. K., however they are traded on the NYSE and have offices here in the U. S.
Should be interesting to see the AVERAGE American’s response if this impacts them as well as poker players, a whole new can of worms!

OldBookGuy

 
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