 How did the gaming stocks fair today?
Russ I do not think a bill being approved in commitee is that big a deal-
in fact I do not consider what the House does to be that big a deal regardless-
if there is any hint of any of this passing the senate you will see some bloodshed in these stocks.
I think they are over valued to begin with-SBT worth billions of dollars only returned $40mill to investors last year. WOuld you pay 4-5billion for anything that only returned you $40mill? I woudn't.
But I still have yet to find a way to trade these issues directly-I asked numerous brokers and no one knows, one guy even told me many international exchanges have limitations on foreigners owning stock.
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In 1998 the Department of Justice brought charges under the Wire Act against 22 American citizens involved in managing foreign-based sites. "You can’t hide online," Janet Reno, the attorney-general, warned Internet betting operators, "and you can’t hide offshore."
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