Led by CryptoLogic (NASDAQ: CRYP) and Scientific Games (AMEX: SGM), the North American I-Gaming Index market cap has risen $144 million, or 30 percent, since May 15.
Responding to the improved climate for Interactive Gaming in North America, the two leading companies rose in value $73 million (CRYP) and $44 million (SGM) respectively.
CryptoLogic is one of the largest licensors of casino software to individual licensees and land-based casinos moving onto the Internet.
Scientific Games has perhaps the broadest purview, representing over 75 percent of the world's market in tote systems for horseracing and other pari mutueal applications. The company also prints over 70 percent of the world's instant lottery tickets. This is being coupled with a growing Internet presence in these markets.
eLOT (NASDAQ: ELOT) rose 93 percent, or $17 million, reflecting the improved outlook for state lotteries looking to use the Internet to facilitate their growth. Youbet (NASDAQ: UBET) rose 22 percent on news of its venture with TVG. Starnet (OTCBB: SNMM) during this period was up 16 percent.