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IGaming Stocks Plummet

Business, 2006-07-18, by TwoGun

Yesterday, the United States Department of Justice indicted BetonSports and 11 of its employees on fraud and racketeering charges. Many of these charges relate to their sports betting website.

Amidst a fear of a further crackdown on internet gambling in the United States, shares of internet gambling stocks plummeted. After a huge drop in share price, BetonSports has suspended trading for the time being. SportingBet dropped by 35.4%. Party Gaming, the company that owns Party Poker, dropped over 17%.

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