The fate of American online poker still hangs in the balance, but people seem to fear the worst. Other formerly American-friendly sites such as Victory Poker have decided to pull out of the American market to avoid getting caught up in the legal battles initiated by the FBI even though they have not been charged with anything.
However, despite this pervasive pessimism in the U.S., Canada, and abroad, investors have shown confidence in publically traded online poker rooms that haven’t allowed American players access since the infamous 2006 U.S. law forbidding the processing of online gambling transactions within the United States. The stock values of these companies, such as Party Poker (London Stock Exchange: PRTY), 888 Poker (London Stock Exchange: 888), and Titan Poker (London Stock Exchange: PTEC), experienced a dramatic surge in value after April 15 when the shutdown went into effect.
The value of 888 Poker stock, for example, took a hit on April 15, dropping from 41.50 at closing on April 14 to 35.13 on Black Friday. However, the following Monday saw the stock’s value rise right back to 41.50, exactly where it had been before the dramatic events began. The value continued to drop little by little over the following week, likely the result of continued uncertainty.
The value of Titan Poker stock, which is part of Playtech Ltd., is actually doing better now than it was before Black Friday. The stock value increased from 314.91 to 317.31 on Black Friday, and the following Monday was up to nearly 350. As with 888 Poker, the value gradually decreased during the week that followed, but is still doing quite well.
Thanks to the increased competition between remaining online poker sites, players can anticipate (and benefit from) the equally increased opportunity for lucrative bonuses and promotions.