Shares in Bwin
.party digital entertainment, the world's largest listed online gaming group, rise 14.4 percent on news
that internet gambling could be licensed in New Jersey, United States.
The governor of New Jersey said on Thursday that, subject to some amendments, he would sign a law which provides for the licensing of internet casinos and poker
in the State.
Bwin.party has a joint venture agreement with Boyd Gaming which is licensed in New Jersey.
"We believe that there will be a material upward move in bwin
.party's share price following this news
," analysts at Numis Securities say in a note.
"The successful start of licensed online gambling in the State is likely, in our view, to have two positive effects. First, to encourage some other States to license online gambling. Second, to encourage Federal legislators, even those who oppose gambling, to pass Federal legislation in an attempt to control the development of the US market."
Shares in fellow gambling firm 888
Holdings rise 10.2 percent, with Playtech and William Hill up 4.4 percent and 2.2 percent, respectively.