Online Casinos Stocks Vary

Published on: October 5, 2009 

Online Casinos are hoping that Monday offers a change.  Friday when the stock market closed many of the online casinos were seeing a decline in their stocks.  On the whole this decrease in their stock is small considering the increases they have seen in revenue for the year and in their stocks.  William Hill, PartyGaming, 888 Holdings, and Ladbrokes were four of the online casinos to see a decrease in their stocks.

PartyGaming is one of the most stable online casinos in the United Kingdom, as are the other three.  For gaming stock investors, PartyGaming fell $2.80 a share on Friday.  For people looking to invest a little of their cash in the market the low price is a good way to buy in.  The drop is a 1.04 percent drop and this left PartyGaming at $267.20.  PartyGaming on the whole for the year was actually on the increase.  They settled a legal dispute in the United States and this helped increase their stock this year.

William Hill decided to change their operations to Gibraltar.  In order to pay lower taxes the move was necessary.  Their stock reached $173.10 on Friday, a 3.30 percent decrease.  This drop was the largest decrease for any online casino last week.

Ladbrokes had the biggest drop in terms of dollars.  Their stock fell $6.20, which meant it closed at $185.30 on Friday.  Ladbrokes actually took over second place in who has the largest online casino.  They beat out William Hill as the second biggest stock in the United Kingdom recently.  Ladbrokes like William Hill decided they had to move to Gibraltar.  Early in 2009 the United Kingdom increased taxes, hoping to regulate online casinos a little better.  To avoid the cut in their profits Ladbrokes and William Hill felt they needed to move.  The United Kingdom raised rates to thirteen percent.  Those who moved to Gibraltar saw a decrease of ten percent in taxes.

United Kingdom online casinos are also trying to acquire the smaller online casinos.  By purchasing the smaller companies they will see a larger profit, as well as hopefully getting more online casinos into the lower tax area.  Consolidation is certainly becoming imperative, especially as new markets open up for online casino gambling.  A lot of the online casinos want to be ready when the United States changes their laws as other countries are also opening their doors.

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