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Declines in Certain Sectors of the Gambling Industry

Stock markets round the world had a hit last week, as per reports. This is compared to the huge blow of 2009. According to analysts, these smaller tolerable sell offs are a way to avoid a total meltdown.  Certain sectors of the gambling industry witnessed serious declines.

The offline US casinos dipped in the country. The scenario was similar in UK’s online gambling industry. Online betting rooms suffered serious setback in the country.  Betfair which was already experiencing a downturn lately, fell to 562.5p and closed at 567p. This resulted in a 3% loss for the day. Other popular online rooms are also moving towards a downward trend. Ladbrokes is down by 4% and so is Paddy Power. Playtech and William Hills also saw declines by 2%.

Chief executive officer of Landbrokes, Richard Glyn didn’t make any comments on press regarding the proposed takeover of Sportingbet. The inaction on the part of Landbrokes regarding negotiations with Sportingbet led to a decline of the stock price of the former from 4p to 49p.

Bwin.party’s stock has also declined but the reason is not very evident. It fell to 113.8p and closed at 116.9p. It incurred a loss of 5.6%. Investors blamed it saying that the gaming room focused mostly on the European market. 11% of its revenues are generated from Greece.