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Wednesday 30th November 2005

Share Price Of Online Casino Recovers

PartyGaming has regained its float price just 13 weeks after it’s warning on poker growth knocked over £3 billion from its market value.

After a high-profile £4.6 billion London flotation in June, PartyGaming saw its market value soar to over £7 billion.

Then on September 6 came the company's warning that poker growth was 'moderating'. For the first time shares plummeted below the float price as the company lost over £2 billion pounds in market value -- one of the most dramatic losses in recent years.

Recovery for PartyGaming started after the split with former partners such as Empire Online led to a more competitive strategy, and the removal of any litigation threat from Empire also lifted the share price.

Shares in PartyGaming were up 6.9% yesterday (29/11/05) at 117p ahead of the initial float price of 116p.

Source: OnlineCasinoNews

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