Anyone holding these? Evil K drove the price right down and now they seem to be recovering---are they worth considering now they seem to have sorted out their finances?

fliper i have taken note of your tip of btx. I have now put it on my stock list, I will now keep an eye on it for a while. Maestro, sorry i could not find the gaming news you mentioned. I will have a look out for it now though.

Frist fails in bid to attach online gambling ban to military bill
2:40 PM, Wednesday, September 20, 2006 by


The National Right for Online Gaming (NROG) confirmed through their sources in Washington D.C. that Senator Bill Frist failed in his attempt to add the Internet Gambling Prohibition and Enforcement Act to a Department of Defense (DOD) authorization bill.


The Senate Majority Leader was attempting to push the online gambling ban through the Senate by attaching it to a bill that authorizes military operations such as those in Iraq and Afghanistan. The move would have moved it through the Senate without having it taken to a floor vote.

The NROG has three sources they're working with to gather information about what's going on with the bill. Jason Bailey, NROG director of development, said one of their sources knew as early as Friday that Frist's effort had failed, but it was confirmed by all of their sources this week.

"We were hesitant to announce this 'victory' until all three of our sources confirmed it," Bailey said. "The actual DOD bill will be out of conference today, but we are confident in our sources that the gambling language has been removed."

Frist came up against opposition from both sides of the online gambling issue as well as from both the Senate and the House during his attempt. According to the NROG some people wanted all of H.R. 4411 added to the DOD bill, not just the payment process part, while others didn't want it at all.

"Most opposition came from those on the Armed Services Committee," Bailey said. "Senator Carl Levin (D-Mich.) and Senator John Warner (R-Va.) were the two most influential, although it's important to note there were several other key players that stopped him - this time."

Frist will likely continue to look for another bill to attach the online gambling ban to as the remaining days of the session wind down for the year and time runs out for the Senate to bring the bill to a vote.

"I believe Frist will try to keep it closer to the vest this time to avoid the outrage that he received when he went after the DOD bill. I don't think he expected it to raise as many eyebrows as it did," Frist said. "Expect him to take a much more quiet approach if he tries it again. Our sources tell us he has every intention of doing so."

The NROG, a nonprofit organization created to help fight an online gambling ban, is urging people to continue their efforts to make their voices heard on the online gambling issue by calling, writing, an e-mailing their representatives in Congress in order to prevent the bill from passing or being attached to other legislation.

very interesting. Thankyou for posting this to us. Are you holding any gaming shares at present?

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.

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

that reuters news is very misleading...the final update says internet gambling is not banned..typical thick city hacks

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/

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.

Internet gambling bill could get tied up in litigation...

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

Peter, have not heard from you for a few days. Since I last sent you a post I bought another 7097, at 1.765 and I sold them on wed at 1.8625. I made 608.32 on that deal. I bought 10,000 on 11.10.06 at 1.75 and sold them at 1.7822. Made 214 profit on this deal. if I had sold the ten thousand in the afternoon when I sold the 7097 I would have made appprox another 800. Its all to do with timing. Unfortunatly this is something we will never know when it is right time. Anyway I made a quick 822 profit on both deals. I may buy more monday morning. Are you still in? I have now reduced my holding of 100,000 partygaming to 80,000. I may top up on this agin tomorro as they go ex div on wednesday. Good look to you peter.

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.

JB .... 100k in PRTY .... well at least that is not as risky as some others in the sector, but 100k tied up in the sector looks dead risky to me, especially if you are pleased to realise profits of just a couple of hundred quid ...... sorry, but sounds as though you are well overstretched ..... be very very careful!

cynic has a look in your email box.

I think sbt will be ok,with a bit of positives,and heavy buying prior to close on friday,because with heavy buying people knew what could also happen,so why should investors risk there cash in a big way if they were not confident,may be drop in the morning and once the dust settles,could be back to where it was on friday,it could be day traders paradise tomorrow,any way good luck.

JB - replied to both!

The Times
October 02, 2006
Gambling online faces collapse in US after Senate ban
By Dominic Walsh

AMERICAs $6 billion (3.2 billion) internet gambling industry is facing meltdown after the US Senate pushed through a Bill at the weekend outlawing the processing of bets by banks and credit companies.

The surprise move, which is expected to spark a massive share sell-off, will prompt London-listed 888 Holdings to announce this morning that it is halting its entire US-facing operation, accounting for half its business.

PartyGaming, the worlds biggest internet gambling company, said last night that it was still evaluating the situation, although industry sources believe it will also announce a cessation of its services to American punters.

However Sportingbet, which was celebrating on Friday after a New York court released its former chairman, who had been facing gambling charges, will tell investors that it is still digesting the implications of the Bill.

Despite the Bills prescriptive nature, it excludes local online betting on horseracing, fantasy leagues and lotteries. It also has no impact on the hundreds of casinos and gambling emporia that dot America, ranging from the neon palaces of Las Vegas and Atlantic City to the riverboat casinos that ply their trade on the Mississippi.

One senior internet gambling executive said last night: This is the worst form of protectionism I have ever seen. This will drive internet gambling underground and consumer protection will go out of the window. The religious groups that lobbied for this may live to regret it.

The Unlawful Internet Gambling Enforcement Bill needs only to be signed by President Bush to become law. Legal sources predict that he will do so in the next two weeks, possibly as early as Wednesday.

The passing of the Bill in the early hours of Saturday surprised the industry. Although it had successfully negotiated Congress, its passage through the Senate looked likely to be blocked through lack of parliamentary time.

However, Bill Frist, the Republican leader in the Senate, got the measure through by attaching it to an unrelated Bill that enhances port security.

Gambling is a serious addiction that undermines the family, dashes dreams and frays the fabric of society, Dr Frist said. The bottom line is simple: internet gambling is illegal. Although we cant monitor every online gambler or regulate offshore gambling, we can police the financial institutions that disregard our laws.

The ban may drive some small companies out of business, although big operators such as 888 and PartyGaming will highlight the strong prospects of their non-US business.

However, 888 is expected to warn its shareholders in a Stock Exchange statement this morning that its withdrawal from America will force it to pare back its cost base, resulting in a significant hit against this years profits.

The Times
October 02, 2006
Need to Know: Global Business Briefing

The internet gambling industry is preparing itself for a massive share sell-off after the US Senate pushed through a bill outlawing the processing of bets by banks and credit companies.
888 Holdings, which is listed in London, will announce that it is halting its US-facing operation.

PartyGaming may suspend U.S. gaming business
Mon Oct 2, 2006 7:20 AM

LONDON, Oct 2 (Reuters) - Online gaming group PartyGaming Plc said on Monday it would stop doing business with U.S. customers if legislation passed there aimed at preventing gambling over the Internet was signed into law.

"If the President signs the act into law, the company will suspend all real money gaming business with U.S. residents, and such suspension will continue indefinitely," it said in a statement.

"Any such suspension would also result in the group's financial performance falling significantly short of consensus forecasts for 2006 and 2007," it added.

Sportingbet warns on gaming ban, scraps merger
Mon Oct 2, 2006 7:29 AM

LONDON, Oct 2 (Reuters) - Online gaming group Sportingbet Plc said on Monday it would scrap a planned merger and might stop doing business with U.S. customers after legislation was passed there aimed at preventing gambling over the Internet.

"Should Sportingbet's non-U.S. international banking partners determine that the act applied to them, then Sportingbet would no longer be able to take deposits from U.S. residents and this would have a material impact on the company's trading performance," it said in a statement.

"The boards of Sportingbet Plc and World Gaming Plc have discontinued any discussions with regard to a potential offer by Sportingbet for World Gaming," the two groups added.

SBT down 74% and falling !!!!!!

PRTY down 32% and falling !!!!!!

888 down 40% and falling !!!!!!