12 Apr 2006 headline called Online Casinos Bounce Back

The saga of the online casinos in the United States continues. The gambling industry recently reported drops in shares offered by online casinos on global stock markets, as the time neared for a US bill, opposing online casinos, to be presented to Congress. However, shares of online casinos soon bounced back to their usual high numbers, after it was learned that the bill received very little attention and support in the United States' House of Congress.

Share prices for online casinos operator, Party Gaming went up by 9% on the London stock exchange, soon after opening. Other online casinos also reported new highs, including Sporting Bet, which rose by 7%, and Beton Sports by nearly 4%. There seemed to have been a lot of hesitance by investors in the past few weeks regarding the future of online casinos in the United States due to the media hype surrounding the proposal put forward by Republican Robert Goodblatte. This bill proposal would essentially have banned online casinos and other types of internet gambling in the country. However, as stated, the bill was not given much notice when it was tabled before a House Judiciary crime sub-committee.

The news was greeted with much joy from online casinos across the globe. The threat by United States officials to ban online casinos in the country is an old one but it causes many problems areas relating to international law and gambling licenses.