Party Gaming dip dissipates
20.09.2005The depressing picture of public company gaming stocks heading southwards last week changed after the weekend, showing that the Party Gaming pessimism was temporary.
Egaming shares rebounded after an anxious time in which Sportingbet took a 30 percent hit, for example. The stock soon recovered however.
The story was repeated in other areas this week.
Empire Online, listed owner of Empire Poker, recovered from a low of 231p to a healthy 254p although PartyGaming is still trading at below its listing price.
But analysts said it was a positive sign, and Paul Leyland, leisure analyst at Seymour Pierce, said the sector appeared to be "bouncing back nicely".
Sportingbet said there was no reason for the share price movement, with its next results expected to be in line with expectations.
It is also believed the firm's poker operations are performing strongly on the back of a massive marketing campaign in the US.
Paradise Poker has launched a dotnet advertising campaign with television spots running on sports channel ESPN
