Paddy News -- Bloomberg reports Paddy Power fell to a 10-month low in Dublin trading after Citigroup lowered its recommendation on Paddy shares to "sell" from "hold," citing a "deteriorating" Irish economy. Shares fell 0.95 euros, or 4.9 percent, to 18.50 euros -- their lowest price since March 6, 2007. The report says that Ireland's economy, which has expanded three times the EEA average in the past decade, is "poised for its slowest growth in 15 years as a building boom cools." Citigroup did however suggest that Paddy has a "relatively" high rating against its U.K. peers. In other Paddy Power news, the operator today changed its take on the U.S. presidential candidate race, installing Sen. Hillary Clinton, D-N.Y., as the favorite to become the Democratic nominee at odds of 8-15.
Licensed to License -- I-bingo software supplier Parlay, via its Parlay Malta Ltd. subsidiary, said this morning that it had been granted a license by the U.K. Gambling Commission to develop, supply, install and adapt gambling software in the United Kingdom. Parlay is the first bingo-specific supplier to receive a U.K. license, and the license will allow it to deploy its software to U.K. clients or to other companies targeting the U.K. market, it said. "We're thrilled to have been granted a U.K. license," said Steve Cook, the group's European managing director.
Cashing Out -- Former 888 Chief Executive John Anderson on Monday sold 1.4 million shares at 0.005p per share. Anderson retains 588,869 shares.
Stock Watch -- On the LSE, PartyGaming was down 1.25p to 24.50, London Capital Group was up 11p to 392.00 and Rank was down 5p to 83.75