BUSINESS

888 Holdings release statement in the wake of Black Friday and stocks news

TAGs: Black Friday, bwinparty

888 Holdings statement888 Holdings Plc is one company that isn’t currently reeling from the Black Friday online poker indictments and even has the deal they signed with Caesar’s still in place. They might not be any closer to a deal with Ladbrokes and be without a CEO but as a lesser of two evils goes they might well settle for this.

Following the crazy weekend that we just left behind us, the management at 888 Holdings Plc have released a statement to the media that read as follows:

On October 13, 2006, the United States enacted the Unlawful Internet Gambling Enforcement Act (“UIGEA”), making it a federal crime for gambling businesses to “knowingly accept” most forms of payment “in connection with the participation of another person in unlawful Internet gambling.”

At the time the Board of 888 took the decision to suspend participation by US based customers in activities potentially covered by the legislation. The Company implemented the suspension immediately upon the legislation taking effect and the suspension has continued as the legal situation in the USA has remained the same.

888 has and always will operate within international regulations and the laws of jurisdictions where it operates. It remains committed to monitoring closely and addressing regulatory changes as they occur, and to fostering, so far as possible, the trend towards liberalisation and regulation of online gaming throughout the world.

This was all as the company’s share price shot up by more than a quarter (25.1%) and at the time of writing they stood at 435p.

Pwin was another that saw a drastic change in the value of their shares following the Black Friday announcements and after their prices fell in the wake of German rulings just over a week ago, their shares were back up by around a third (33.66%). This meant the price of bwin.party shares were 1751p on the London Stock Exchange and at their highest point had reached 1822p.

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