Gaming firms surge after US crackdown

18th Apr 2011 13:18

Bwin.party and a host of other gaming firms were boosted higher on Monday, as a US crackdown on online poker firms is expected to bolster demand for its more Europe-focused peers.Bwin.party, the newly-merged business of PartyGaming and bwin, was wanted in early trading, sending shares almost a third higher. Sector peer Playtech saw shares rise over a tenth, while 888 Holdings' share price rose by a quarter.The Federal Bureau of Investigation (FBI) has forced a shutdown on Friday of three popular poker websites, Full Tilt Poker, Pokerstars and Absolute Poker, claiming that the sites "concocted an elaborate criminal fraud" and were involved in "massive money laundering and bank fraud".The websites have been charged with breaking the Unlawful Internet Gambling Enforcement Act, a law which have previously stopped London-listed firms PartyGaming and 888 to pull their operations in the US.Some 11 people, including the founders of the three US sites, are facing a jail term of up to 20 years.---bc