-Shares in Bwin.party gain from Full Tilt troubles

Internet Business News
06-30-2011
-Shares in Bwin.party gain from Full Tilt troubles

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

30 June 2011 -- Bwin.party (LON:BPTY) saw its shares gain 11.5% to 148.34p on news that the licence of Full Tilt, one of the world's leading online poker websites, has been revoked, the Financial Times reported.
The Channel Island of Alderney's gambling commission issued a statement saying that Full Tilt's licence has been suspended with immediate effect and the company must stop all its operations. The move by Alderney was prompted by the results of a special investigation into Full Tilt after the US authorities pressed a series of charges, including bank fraud and money laundering, against the company and its founders in April.

Although outlawed in the US, Full Tilt and the other leading online operators such as PokerStars have been stealing market share from Bwin.party's online poker business in Europe where such services are legal.

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