It’s not often you see a FTSE 100 company cancel a previously announced dividend. In fact, I’d never seen such an announcement until last week’s release from PartyGaming (LSE: PRTY).
That announcement just underlines how much things have changed since the US Senate voted for a clampdown on internet gaming. Just before that vote on September 30th, PartyGaming shares closed at 107p. By the end of the next trading day, the shares had slumped to 45p and they closed last night at 39p….