Investment Fund Targets Online Casino Stocks
Rupert Morell, lead investment manger for Premier believes that the business community does not give the online casino industry the attention it deserves. Morell is heading a GBP 13 million European Growth Fund, and aims at using his financial influence to change the current situation. Back in October 2006, when the United States enacted the Unlawful Internet Gambling Enforcement Act and said that financial transactions between online casino firms and other companies is forbidden, most the business community believes that “that’s it” for the online casino industry. Morell believes that this cannot be farther than the truth, and plans to act according to his belief.
Premier is about to purchase stocks from several online casino firms in an attempt to improve the fund’s position. Morell believes that the online casino industry is storing several gems that are waiting to be discovered. There are millions of people gambling at online casino sites worldwide, and with the proper investment management, great things can happen. The business opportunity is easy to spot. One of the online gambling firms has more than 1 million active customers across Europe, but trades for a price-earnings ratio of 9. This means that the stock value can only grow over time. It’s strange how other business companies do not realize the potential. Online gambling business is slowly building itself in Europe, and now is the time to purchase online gambling stocks that will surely multiple in the near future.
Morell is planning on investing in online casino firms that has no relations with the United States and do not cater for American citizens. This means that no further developments regarding legal issues might surprise the fund, and the investment seems to be a solid one. If the move will succeed and Premier will improve its position as a result of its investment into online casino business, it’s expected that other investment funds will wakeup and realize that the online casino industry is just waiting for money to pure in and increase revenue.