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888 and Bwin shares skyrocket as US wagering competitors closed
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18 April 2011
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Shares in London-listed online betting firms rose after some huge in the yohaig code US were shut for supposed illegal activity.
At the yohaig code close of trading, Bwin were up 30% and 888 up 15% as investors speculated that the US closures would boost their operations.
On Friday, 11 individuals linked to three major poker websites were charged with offences, consisting of scams.
The US probe involves 3 sites: Full Tilt, PokerStars, and Absolute Poker.
Federal US authorities implicated the 3 online poker sites of controling banks to process billion of dollars in unlawful revenue.
According to Execution Noble analyst Geetanjali Sharma: "The closure of the primary rivals' operations and the US legal procedures started versus them ought to benefit European listed operators."
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Playtech, another video gaming website, likewise saw its shares leap 11%.
'Criminal scams plan'
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Prosecutors in New York City City on Friday stated they had released restraining orders against more than 75 savings account in 14 nations utilized by the poker companies.
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US Attorney Preet Bharara said the yohaig code websites "prepared a fancy criminal fraud scheme, at the same time fooling some US banks and successfully bribing others to assure the continued circulation of billions in unlawful betting revenues".
The indictment said the 3 gambling websites did not abide by the US Unlawful Internet Gambling Enforcement Act, developed in October 2006.
The law makes it prohibited for betting organizations to accept most forms of payment from people associated with unlawful web gambling.
The indictment looked for $3bn (₤ 1.8 bn) in cash laundering penalties and loss from the yohaig code sites.
The authorities said Absolute Poker had stated quickly after the law was enacted that the US Congress had no control over the company's payment deals.
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PokerStars posted a statement to its gamers on Saturday, saying it needed to suspend real money play for consumers based in the US.
"Please be assured gamer balances are safe. There is no cause for concern," the yohaig code company stated.
"For all clients outside the US, it is business as usual."
A message published on the PokerStars.com site by the FBI stated the firm had actually seized the domain in connection with the examination.
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888 and Bwin Shares Soar as United States Betting Rivals Closed
laruemcclellan edited this page 2025-10-18 16:22:20 +08:00