Shares in the sector have extended Monday\’s falls, with PartyGaming dropping another 9.5% after it cancelled its maiden interim dividend and World Gaming losing a further 18% after it announced to be in technical default of its loan conditions.
Leisure and Gaming also shed another 23%, Sportingbet lost 7.5% and Betcorp fell 16%.
The falls in London were echoed in Canada and Australia where Cryptologic closed 7% lower after being downgraded by CIBC to “underperform” from “outperform” and Lasseters, which generates 80 per cent of its revenues in the US, lost over 51% respect to Friday\’s closing. The popular online casino said it would take a while for the company to fully assess the impact of the Unlawful Internet Gambling Enforcement Act on its business activities.
Payments processors NETeller and FireOne were the only positive note of the day as they closed up 18% and 13% respectively.
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