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UK online companies hit again

23 Jan 2007

LONDON, England – As reported by MarketWatch: "Shares in online gambling companies PartyGaming, SportingBet, 888 Holdings and Empire Online slipped once more in London on Monday after published reports that the U.S. government has requested British banks hand over transaction details of their dealings in the online gambling sector.

"PartyGaming (PRTY) shares lost 7.3%, SportingBet (SBT) shares dropped 7.4%, 888 Holdings (888) lost 2.9% and Empire Online (EOL) declined 1.7% in the London stock market.

"PartyGaming shares hit a high of 179.5 pence in 2005 but were trading at just 28.25 pence on Monday, while SportingBet shares traded at a high of 452 pence last year. On Monday, SportingBet's shares were valued at 34.5 pence.

"The report in The Times (of London) newspaper said that subpoenas have been issued by the Southern District Court of New York to a minimum of 16 U.K.-operating banks requesting documents that will help build a case against anyone that could have profited from online gambling in the United States…"

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