Internet Casinos Investors Are Back

Internet casinos have been attracting a lot of attention on the global stock market exchanges and left many with uncertainty regarding some unanswered questions. .How much more of a gamble has it become to own a piece of an Internet casinos ? Is it a sucker's bet, or the chance to buy low and score a big payday? The questions have intensified since an online sports betting company traded on the London Stock Exchange, stopped taking bets from United States' internet casinos players after the Justice Department charged the company and current and former executives with operating an illegal gambling operation.

Bars and Stripes Investors and industry analysts, who have long said that owning shares in Internet casinos involves serious risk, nonetheless expressed surprise at the move by prosecutors at this Internet casinos case . They say the development, coupled with legislation in Washington that could clamp down further on internet casinos , has created new concern. And yet investors keep coming. The indictment of an internet casinos group prompted a sell-off in the shares of publicly traded internet casinos , but the sector has rebounded. Some industry analysts even call this a buying opportunity.

There are signs that some major investors, including U.S. investment houses, are starting to distance themselves from internet casinos companies, either by dumping shares or by ceasing to provide analyst coverage of internet casinos . But other investors, notably hedge funds, have led a comeback.

Shares of a particular internet casinos , SportingBet, hit 398.5 pence, or $7.50, on July 4. On July 18, after the indictment, they tumbled on heavy volume, reaching a low of 171 pence on July 21. Then the stock of the mentioned internet casinos group started to recover, reaching 248.25 pence in early afternoon trading in London.

Shares of the internet casinos group PartyGaming also slid in mid-July on heavy volume, hitting a low of 85.25 pence on July 18. But they then revived strongly, hitting a high of 120 pence on Aug. 4. The shares were at 114.25 pence Monday afternoon.

Neteller, a company used by many internet casinos for payment processing and one seen by some as an industry bellwether, was at 597.50 pence on July 4. It fell to 319 pence on July 20 and has rebounded to 404 pence.

On July 17, the day the indictment of the internet casinos group was unsealed, trading in BetOnSports was halted after a 17 percent slide in the shares. Kevin Smith, a company spokesman, said it could be more than a month more before the London Stock Exchange resumed trading in this internet casinos groups stocks

There is an allure to investing in the internet casinos , especially since some internet casinos have seen considerable growth. According to Nielsen Net/Ratings, PartyPoker.com, one of the leading internet casinos groups, recently has been among the world's 10 fastest-growing Web sites, with its internet casinos traffic up 185 percent in July from the previous year.

Some internet casinos companies continue to report strong profit growth and earnings. SportingBet said Aug. 1 that it was on track to report £103 million, or $195 million, in operating profit for the year that ended July 31. PartyGaming's second-quarter revenue was up 49 percent from a year earlier to $319.3 million.

Investors should buy shares of internet casinos only with the understanding that the investment is so risky that it could virtually disappear, said Sebastian Sinclair, an industry analyst with Christiansen Capital Advisors.

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