Gambling shares fell dramatically this morning following reports that the US department of justice is stepping up its investigation into online gaming.
The Republican-controlled US Congress outlawed internet gambling in the country at the end of September last year, wiping out in a single stroke the industry's biggest market.
Reports that US attorneys had subpoenaed documents from investment banks recording telephone calls with gambling firms, stepping up their investigation into those breaking the new laws, prompted today's uncertainty.
Shares in gambling firms PartyGaming and Sportingbet fell by 6.5 and 7.4 per cent respectively during morning trading.
These falls do not come close to the plummeting drops of 60 and 65 per cent respectively after last year's announcement, however.
Gambling firms have responded to the sudden disappearance of their US market by announcing a series of tie-ups. British firm PartyGaming acquired Empire Online and Intercontinental Online Gaming on December 29th last year. The acquisition was completed on Friday.
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