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February 2nd 2007
PartyGaming’s shares rise in light of possible EU challenge to UIGEA
Shares in PartyGaming, the operators of PartyPoker.com, were on the rise yesterday after speculation that the EU may mount a challenge to the Unlawful Internet Gambling Enforcement Act (UIGEA).

PartyGaming Plc.’s shares rose 2p to 29.5p yesterday, in large part due to the statement from internal marketing commissioner Charlie McCreevy that the European Union might take the US to task over their online gaming restrictions.

The rise may signal a change in PartyGaming’s fortunes, whose share price was halved when it pulled out of the US market following the passage of the UIGEA last September.

McCreevy said that the UIGEA was a protectionist measure intended to look after the US’s own gambling market, and added that the EU may take the case to the WTO.

Submitted: 02/02/2007 09:41:42

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