November 16th, 2009

Online Poker Financial Situation: UK Stocks Hot, Amid Some Concerns

November 16, 2009 (PAP Newswire) -- As the Wall Street Journal reports that Deutsche Bank has upgraded British Internet casino and betting stocks to “buy” (from "hold"), there doesn't seem to be much to worry about in the British online gaming world.  

“[Deutsche Bank] believes the sector is an attractive place for investors to be during the next 12 months,” the article reported. “It raised PartyGaming and Playtech, both to buy from hold, and upped PartyGaming’s target price to 310p from 270p, and Playtech’s to 443p from 420p.”

This means that the brands are enjoying stronger growth and improved financial performances -- good signs that they're still able to bring in players, and that online players will still be clamoring to gamble online for the next year, at least.

Less positive -- but still nothing to worry about yet -- is the report out of the UK’s Independent magazine that Britain's online poker “boom” may be slowing down. However, that’s just speculation, based on the assumption that the incredible levels of growth Internet poker has experienced in the past few years there -- 72 percent by the last measure -- cannot be sustained. However, financial world realities often don’t play by those sorts of rules. Read that story here.
POSTED IN: Industry News
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