Poker Faced: Online Game Firm Loses Gbp2bn in a Day Share Crash After Warning of Waning Interest

Summary

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LESS than three months ago, it was the only game in town for stock market punters looking for a fast buck. Yesterday, however, shares in PartyGaming, the internet poker company which went public with a bigger quoted value than Marks and Spencer, did not look quite such a good bet.

Its shares crashed by a third on the London market, wiping about GBP2bn off the firm's value, after the company warned that the boom in the popularity of online poker may be starting to wane.

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Extract

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Poker Faced: Online Game Firm Loses Gbp2bn in a Day Share Crash After Warning of Waning Interest

Analyst Robin Chhabra, at Evolution Securities, said: "This has been a shock. Poker isn't dead, but the talk of 45-per cent growth now looks unrealistic."

PartyGaming, the owner o...

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