Gambling Stocks Affected by DOJ Announcement
When the US Department of Justice published an opinion just before Christmas regarding its changed stance on internet gambling, industry analysts were quick to predict that changes would be felt across the board.
As soon as news began to filter through that the DOJ now believes that the 1961 Wire Act only pertains to sports betting, the results were seen on the stock markets in Europe and the United Kingdom, with many companies reporting a rise in their share prices almost overnight.
Those companies who already have foot in the US gambling market through partnerships with local companies seemed to have generated the greatest share price jumps.