The closure of Pokerstars, Full Tilt Poker and Absolute Poker has meant bad news for a number of online poker players and companies. However it’s not all doom and gloom as some online gambling companies have seen their value increase since the US government’s intervention.
Among the companies thanking the FBI are online casino operators Bwin.party and 888 who run PartyCasino and 888 Casino respectively.Also glad to see the back of the online poker giants are software developers Playtech who have been tentatively making steps in to the US gambling market with various acquisitions.
Bwin.party saw their shares rise 35% in the first day of trading following the news that a number of online poker domains had been seized. 888 Holdings saw an increase of 15% while Playtech was up 13%.
Holders of Bwin.party shares will be particularly happy as it appears as if the decision to settle out of court with the US government for $105 million (£65 million) in April 2009 has now paid off.