Online Gambling Stocks Tumble as COVID-19 Vaccine Hopes Rise

Shares in online gambling companies have dropped following successful trials of multiple COVID-19 vaccines. The industry had seen a significant upswing since March 2020 due to lockdown policies, with online poker traffic reaching levels not seen for five years. However, the prospect of a return to normalcy within the next 6-12 months has led to a decrease in share prices for companies like Flutter Entertainment and GVC Holdings, though their increases since March 2020 remain largely intact.

The World Poker Tour (WPT) has announced two events for 2021. The WPT Russia will take place from February 19th to 28th at Casino Sochi, featuring a $3,300 main event and various side events. The WPT Online Poker Open will be held on partypoker US in New Jersey from December 27th to 29th, with a $1,000,000 guaranteed main event. This marks the first ever WPT Online event on US soil, with the winner receiving an entry to the WPT Tournament of Champions worth $15,000.

In other news, Bally’s Atlantic City has been acquired by Bally’s Corp. from Caesars Entertainment for $25 million plus the $20 million sale of the Bally’s brand. Additionally, a punter won $704,072 with a 10-leg parlay at the William Hill sportsbook in the Venetian Casino, Las Vegas.