The online poker gold rushCommentary: Gambling is America’s favorite tax
By Brett Arends, MarketWatch
Jan. 02, 2012
Progress: "Artist" Who Breastfed Dog, Fertilized Her Own Egg With Dog Cell Wins Prestigious Prize
U. Of Penn Teaching Aide: I "Always" Call On Black Female Students First, White Men Last
Father Of Soldier Slain In Niger Says Pres. Trump Was 'Real Cordial' In Condolence Call
'It Was Clearly Managed': Tucker Questions Ellen-Campos Interview, Talks Las Vegas Conspiracies
Transgender Man Accused Of Raping 10-Yr-Old Girl In Bathroom
LONDON (MarketWatch) — The news over the holiday weekend is that the Obama administration may be moving towards legalizing online poker.
An opinion by the Justice Department’s Office of Legal Counsel, written in September but only published on Friday, may open the door to online poker once again. It argues that the federal Wire Act may only prohibit betting on things like sporting events.
Poker has been subject to a crackdown since President George Bush signed the Unlawful Internet Gambling Enforcement Act in 2006.
If this is reversed, investors can expect a gold rush into online poker companies. To cut to the chase, one of the stocks to watch is Bwin.Party Digital Entertainment UK:BPTY +3.14% , traded in London. It is a market leader overseas, has a clean balance sheet, strong profits, and a joint venture ready to go with two big U.S. companies.