Well, if UBET's price is any indication, they lost roughly 17% when that article came out, and it was tied into their Press Release/News section since their ticker was mentioned in the article. It rebounded pretty nicely yesterday and the day before though.
It is too early to tell whether or not this bill will pick up support or not. Unfortuntately in this global market that the U.S. is involved in (for good or bad), it seems that whatever the World Trade Organization wants, they usually get. It appears they want this, so let's see what happens. This senator has introduced several other bills in the past regarding foreign betting, and they were all defeated, so take that for what it is.
Regardless, it takes a long time from the introduction of a bill to it actually becoming law, so this, as sangreal said, could be a cloud hanging over the entire horse race industry for quite some time.
The good news is that PHXI announced they had no earnings for the first quarter of 2005, which means the second quarter of 2005 will be the first quarter in which we will definitely see some earnings reported due to online gambling. They will not be in the black of course, but I am sure the earnings report will be good news for the price (PPS) of PHXI. As always though, there are the creditor shares still there, as well as the upcoming reverse split.
Should be an interesting next couple of months.
Craig
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