This one hit the markets running today. Despite negative publicity it was well supported so I jumped in for a small holding--anyone else joining in?? I am hoping for a good run up before the shorters get going.

Me and I hope you're right

hope so too since i have a lot to lose or gain on this one. heard a rumour (news unconfirmed) that there is a good writing about it in the times. if I find will post it here. suggesting that the results on 27th are expected to be spectacular and that would probably explain the large volume trades. also have a felling that the huge sells shown on moneyam were actually buys will wait and see.

well looks like that was true after all has been gaining steady, will hit 160 before you can blink and expected to goto 2 after the news based on our research. have a big exposure on this one so am really pleased so far.

BUY

why 2 is that an analyst forecast? I'd be very pleased if it did and I'm prepared to hold after buying back in--I'm hoping this one will perform like Sportingbet can't see any reason why not.

I'm in as well bought 700 at 142.00 two weeks ago... bad timing though

Results out on 28th Feb--should see a steady rise towards that date. analysts have upgraded to 160 also. probably will fall again on results day as this seems to happen even if the results are excellent with every company!

Thursday, February 16, 2006 6:59:30 AM ET
Dow Jones Newswires

1035 GMT [Dow Jones] Gaming stocks, including PartyGaming (PRTY.LN), Sportingbet (SBT.LN), 888 Holdings (888.LN) and NETeller (NLR.LN), are back in favor with investors following talk that the US government won't introduce a bill to ban online gaming, says a trader. Earlier this week, online gaming stocks fell sharply on concerns that such a bill in the US was being prepared.

http://www.newratings.com/analyst_news/article_1207454.html/

You are right, Harry

what a bloodbath!! still gritting my teeth and holding hope there's a bounce back by year end.

Reuters - Sat Sep 30, 2006

US Congress approves Internet gambling ban bill - By Peter Kaplan
(Updates with final approval of House)


Most forms of Internet gambling would be banned under a bill that received final U.S. congressional approval early Saturday.

The House of Representatives and Senate approved the measure and sent it to President George W. Bush to sign into law.

The bill, a compromise between earlier versions passed by the two chambers, would make it illegal for banks and credit card companies to make payments to online gambling sites.

Democrats had accused Republicans of pushing the bill to placate its conservative base, particularly the religious right, before the Nov. 7 congressional elections.

"It's been over 10 years in the making. The enforcement provisions provided by this bill will go a long way to stop these illegal online operations," said Sen. Jon Kyl, an Arizona Republican and a chief sponsor of the measure.

Negotiators from the Republican-led House and Senate reached a deal on the legislation Friday and attached it to unrelated legislation to bolster port security, which the Congress approved.

The final bill dropped earlier provisions opposed by some gaming interests that would have clarified that a 1961 federal law banning interstate telephone betting also covers an array of online gambling.

Investors in British-based gaming companies such as BETonSPORTS Plc (BSS.L: Quote, Profile, Research), Partygaming Plc (PRTY.L: Quote, Profile, Research) and 888 Holdings Plc (888.L: Quote, Profile, Research) have tracked the legislation.

Senate Majority Leader Bill Frist, a Tennessee Republican and potential 2008 presidential candidate, recently appeared at a hearing in Iowa -- the state that holds the first presidential nominating contest for the 2008 election -- to listen to concerns about Internet gambling.

at least they have dropped betting by telephone...

Negotiators from the Republican-led House and Senate reached a deal on the legislation Friday and attached it to unrelated legislation to bolster port security, which the Congress approved.

The final bill dropped earlier provisions opposed by some gaming interests that would have clarified that a 1961 federal law banning interstate telephone betting also covers an array of online gambling.

can't wait to buy in on monday         .......probably around the 20p mark!!

if it does IG INDEX will have to pay up the excess...i've a nice guaranteed tight stop loss..so would love to see them get shafted

Update from NROG: National Right For Online Gaming

CONGRESSIONAL UPDATE: The United States Congress has passed the Unlawful Internet Gambling Enforcement Act of 2006. After review (Click Here To Download) this bill is largerly ceremonial and it DOES NOT amend the Wire Act. The UIGEA deal only with payment methods inside the U.S. including banks wires, checks, and other US internet payment companies. Thankfully it appears to be business as usual for the most of the industry, but please understand the Wire Act Amendment is an issue that can easily be raised again. This fight is not over until that threat is gone.

http://www.saveonlinegaming.com/

maestro ... what a pathetic attitude! .... if u don't like IG, then use another broker or medium.

as for this whole sector, i just don't think it's the place to be for the time being .... there may well be some fast bucks to be made, but the odds don't feel that favourable

It was a minor victory for gaming companies, in that Frist dropped the important Wire Act part (as he knew this COULD NOT go through) and went underhand to put in place "toothless" legislation that is face saving for him.

This will have no effect on gaming, given what it says and how its going to go, and in fact should REMOVE a lot of the uncertainty, in that Frist and his Wire Act clarifications (which could effect the gaming world) had to be removed and is likely not to surface for a long time again.

Celebrate that this is a minor victory for the gaming companies, and their future is now a bit more secure IMO.



Measure to curb internet gambling falls short of applying existing laws to web

http://www.gambling911.com/internet-gambling-093006.html

Even House Homeland Security Committee Peter King Chairman Peter King, R-N.Y., who headed House-Senate negotiations on the port security bill seemed taken aback by the internet gambling measure.


The bill falls short of adding clarity to an already existing 1961 Wire Act that prohibits betting via phone across state lines and failed to apply that law to gambling on the web. This is being viewed as a slight victory for the online gambling community as it is now unlikely such revisions will ever be added in the future.

I am still in. Reduced my holding on thurday from 100,000 shares to 80,000. I am going to sit tight. The go ex divident on wednesday. Does anyone else in the investors room hold any of these shares. would be interesting to know.

The 20,000 partygaming that I sold. I bought these on 20th sept at 100.75p then on 28th sept. I sold them at 1.05p. This made a profit of 831. Have a nice week to all in the investors room, and keep posting. It is always good to hear other peoples views.

Sunday Telegraph
US Congress acts to ban online bets
By Richard Northedge and Louisa Gault
(Filed: 01/10/2006)

A bill making it illegal for banks and credit card companies to process payments to online gaming companies was unexpectedly approved by the US Congress yesterday, threatening to devastate the business of British companies such as PartyGaming, 888 Holdings and BetonSports.

The bill now needs only the approval of President George Bush to become law, and he is widely expected to sign it before the November 7 congressional elections to gain support from the political right.

A ban on online gaming payments will be a crippling blow to a fast-growing UK industry already reeling from the arrest of executives in America for allegedly breaching gaming laws.

PartyGaming was floated on the London Stock Exchange last year despite its prospectus containing 33 pages warning of risks such as a block on money transmission. The FTSE100 company earned 85 per cent of its revenues from US clients using its internet services.

Its shares have been highly volatile as the price reacted to threats to its business. They have fluctuated between 180p and 71p and were already 9p below their 116p flotation price before yesterday's move; they are expected to fall further this week along with smaller rivals.

The main losers will be the company's founders, even though they have sold 1.2bn of shares in the flotation and subsequently. Other investors include Coral Ventures, with an 8.6 per cent stake worth 369m on Friday, and Barclays with a 3 per cent holding.

US politicians have been trying to ban remote gaming for more than a decade and yesterday's move makes it almost certain that they will attain their goal. Previously, the Senate has resisted such efforts but Republican leader Bill Frist secured a breakthrough at the last minute by attaching the gaming provisions to an unrelated bill dealing with port security.

Frist said: "Gambling is a serious addiction that undermines the family, dashes dreams and frays the fabric of society. For me, the bottom line is simple: internet gambling is illegal. Although we can't monitor every online gambler or regulate offshore gambling, we can police the financial institutions that disregard our laws."

Andrew McIvor, the finance director of Sportingbet, which takes most of its bets from the US market, said last night: "We have not discussed it yet as a board and have not taken on what it really means for the company as yet. Things will unravel during the week."

The company's former chairman, Peter Dicks, was released on Friday after New York's state governor refused to sign an order extraditing him to Louisiana to face charges of illegal computer gambling.

The bill incorporates aspects of legislation put before the Senate earlier this year and was passed despite protests from the banking industry, which said the measures were an impractical and expensive burden. Once passed, financial organisations will have to block electronic transfers of funds to the gaming companies.

Although some clients may find alternative payment routes, the banks' clampdown would affect the majority of the companies' US business.

The port security bill was being debated on Friday when Frist added his gaming amendment. Debate continued until yesterday but despite Democrat opposition, members were reluctant to lose the core of the bill and passed it with the online gambling provisions. The House of Representatives and Senate both approved the bill early yesterday before passing it to Bush.