The Canadian financial press was bullish on Internet poker stocks
this week article on Internet poker stocks, urging Canadian investors
to "Ante up on poker stocks!"
Analysts are bullish on makers of online gambling software led by
Toronto-based CryptoLogic Inc. largely because of the booming online
poker industry. CryptoLogic beat analysts' expectations for the third
quarter this year with earnings of US$2.9-million, up 32% year over
year. The company said it made more than 15% of earnings from its
poker business, up 55% from the previous quarter.
The company runs the fourth biggest network of online poker sites
in the world, and reports that more than 3,000 players can be found
on its international networks at any given time.
"Online poker is the fastest-growing segment in the history
of interactive gambling, and Cryptologic has a great seat at the winning
table," CEO Lewis Rose is quoted as saying.
Investors, too, are excited about poker stocks. CryptoLogic shares
(CRV/TSX) are up 76% to $27.40 since January, and 52% since it reported
third-quarter earnings.