Online Gambling Press

PartyGaming Stock Explodes After Channel 5 Casino Deal

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PartyGaming It was a strong week of trading for PartyGaming on the London Stock Exchange. The popular gaming company helped their own cause by closing a deal with Channel 5 to create casino and bingo games.

The stock closed on Friday at $260.75 a share. That is after starting the week at $235.75. The stock steadily climbed throughout the week, culminating in the $260.75 figure from Friday.

The deal with Channel 5 calls for the gaming giant to create bingo and casino eGaming services that will target the UK market. PartyGaming has long been a leader in the online gambling industry and the eGaming venture only expands the company’s reach.

“PartyGaming has been going full speed ahead since their settlement with the US,” said observer Kellen Breslow, “they are by far becoming one of the most stable gaming stocks in the UK.”

While PartyGaming has soared, other UK based gaming companies have been treading water on the market of late. Wynn Resorts closed on Friday at $210.50, while Ladbrokes finished the week with a stock price of $198.

In the US, casino company stock was also stuck in a holding pattern last week. Las Vegas Sands closed at $9.10 a share. MGM Mirage finished the week at $7.13, and Melco Crown Entertainment closed at $4.95.

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