Poker Firm Shown Some Love by NASDAQ during Financial Crisis
Last week we reported that poker mogul WPT had been notified of potential delisting on the NASDAQ exchange back in August. From that time they had 180 days in which to become compliant.
However, in lieu of the recent financial woes that have befallen Wall Street, NASDAQ announced that it would suspend its minimum listing requirements for stocks across the board. This was done in an attempt to help the numerous struggling companies, some poker outlets included, continue to have their shares seen and sold. The afterthought is that by allowing them to stay on the market, the companies will eventually be able to rebound without going bust.
On a lighter note, financial gurus from the online poker industry’s top sites are putting their heads together, a few of them teaming up with Cryptologic, in order to find ways to “increase liquidity while reducing expenses substantially.” If this is any indication of the future of the industry, perhaps mergers may not be far off.
Regardless, the poker companies still have a lot to look forward to. Gambling has long been hailed as “mostly recession-proof,” and tend to still do well in terms of profit when the economy is in a slump, even when the investors themselves don’t show the same confidence as the consumers.
