Casinos.co.uk: Casino News Archive
Wednesday 3rd March 2004
Market cap of top 50 gambling companies worth US$76.4 B
The GBGC 50 an index of leading stocks and shares in the gambling industry, which is ranked by their market capitalization has nearly doubled in value says Global Betting & Gaming Consultants (GBGC), which maintains the index.
The consultants who track the largest 50 specialist gambling companies, said their market cap is now worth US$76.4 billion, with 17 of those companies worth more than US$1 billion with the total growth rate of more than 76 percent. Ironically, the standard indices such as UK’s FTSE has risen by just 21% and the Dow Jones index in America by 34%.
“There has been an amazing surge in value this last 12 months and it is for two reasons. First of all the online gambling business is doing much better, as more homes are online with broadband connections,’ says Warwick Bartlett GBGC’s lead partner.
In the 700 page Global Gambling Report and the GBGC 50, Bartlett attributes the second reason to major UK companies which have moved ahead because of the improved fiscal regime provided by government along with the prospects of new gambling legislation that will benefit the casino industry. Warwick Bartlett and Simon Holliday lead Global Betting & Gaming Consultants Ltd, which provides consultancy services to the gambling industry.
According to the GBGC, specialist Internet stocks sports books such as BetandWin.com and Sportingbet are faring well with the former having led the field in 2003 with an incredible up swing of in excess of 6 fold. International Game Technology (IGT), the world’s largest company has led from the front, improving its value by almost 100% from US$6.8billion to an incredible US$13.6 billion boosting the technological based casino industry.
Other star performers include William Hill ranked at number 4 in the index with a market cap of US$3.7 billion.
Source:OnlineCasinoNews
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