PartyGaming Shares Rise After Anti-Gambling Bill Delayed

Shares in online gambling giant PartyGaming were up almost 4% yesterday after news that Bill Frist, the Senate majority leader, looks to have failed in his attempts to attach the anti-gambling bill to ‘must-pass’ bills in an attempt to get the bill through the Senate before Congress shuts down this weekend.

The US Senate is keen to get the politically sensitive Homeland Security Bill through before the weekend, and Bill Frist had tried to attach his anti-gambling bill to the important piece of legislation, but it looked set to be pushed through yesterday without the gambling curbs attached.

Frist is also trying to attach the anti-gambling bill to the Defence Bill, but his efforts

there appeared to be in vain also. In any case, The Times Online report that the Defence Bill itself is unlikely to get through before the deadline tomorrow.

Online gambling industry analysts now feel that the chances of the anti-gambling bill getting through before the deadline are very remote. There is a chance the bill might be aired in a “lame duck” session of Congress, but historically, those sessions are usually reserved for more important pieces of legislation.

It’s looking increasingly likely that if Frist wants to get his bill passed, he will have to start the entire process all over again next year, by which stage it is thought gambling lobby groups will be able to make it much harder than it was for Frist this time around.

Upon hearing the news, PartyGaming shares rose 4¼p to 105¾p, with further rises expected Monday should the bill not get through this weekend.

Ed note: See why PartyGaming is the biggest gambling company in the world – check out Party Casino!

Zak Roscow