We have been seeing some fairly lethargic trading in the online casino sector over the last couple of weeks but that was certainly not the case for today, Monday October 19th 2009.
Trading in the sector opened with a bang today and there were some big gains as well as some big losses in prices across the sector.
One of the big winners today was William Hill. The valuation of the shares was 166.50 at the opening of business and the value of shares stood at 177.60 by the end of trading. This leaves the price 9.2% up on the Friday October 16th price of 161.10 and leaves the price 7.6% higher than the Thursday October 15th price of 164.10
Shares in PartyGaming were also up for Monday. The gains were faro more modest than William Hill but healthy nonetheless. The price was 280.00 at the opening of business and by the end of the day the value of shares stood at 284.50. This price is 1.9% up from 279.00 on Friday and is all of 1.9% higher than the Thursday.
On the other end of the scale one company that took another hit today was Cryptologic. At the opening of trading 4.95 is what the shares stood at and the value of shares was 4.67 at the closing bell . This leaves the price 6.63% lower than the Friday October 16th price of 4.98 and is a whopping 37.4% lower than the Thursday October 15th price of 6.42
Recently we have been looking for a higher level of trading activity in the sector and we certainly got it today.