Stocks soar on UIGEA repeal rumors
Party Gaming stocks sored as rumors went around claiming that US SEC Chairman Barney Frank was going to repeal the Unlawful Internet Gambling Enforcement Act. However, today, Frank’s press secretary denied the rumors.
“As you know, he is opposed to restrictions on online gambling,” said Frank’s press secretary, Steve Adamske. “But there is nothing currently underway to repeal the restrictions on Internet gambling in the United States. There are a lot of reports coming out of Europe and I have no idea where they are coming from. There hasn’t been anyone on our staff talking about that, including the Chairman.”
Last March, Frank said: ‘Adults are entitled to do with their money what they want to do.’
We’ll keep you posted on any developments.