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?

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 !!!!!!

And also associated companies, Neteller, Empire etc down 50%.

but rising already!

peter do you still hold your shares?

GET OUT AND STAY OUT is my advice

This is very high risk now, with revenue flow due to be cut in half.
But, for the brave ones, you could have made 40% on this stock this morning!
888 looks a bit more secure, but Partygaming taken a bad hit.

JB

I read the news over the weekend and i could stop thinking about the legislation. This morning i sold out at 1.20. Took a massive loss!!

peter ... though that may have been painful, it was (imo) absolutely the right decision .... no recovery is likely within the immediate future if at all

hello peter, I am sorry to hear your news regarding your big loss. I was advised at 8.00 this morning not to sell my prty they were at .42p then. I have a financial advisor in London. I very nearly sold first thing, but for the phone call. I was told to sit tight, and wait to see how the market went. This was for my prty. I was told that if things started to look any worse, then I would get another call immediately. I did not get another phone call today. So I am still holding. I sold all my sbt on thursday. I did not buy them back. I still hold 80,000 prty. I have had an headache since I got up this morning. they have dropped 50k since friday close. This is as bad as when vog dropped .70p in one day not so long ago. I am not having much luck at the moment. I wish you luck with your future investments.

JB ..... well thank goodness you got out of SBT at least ..... with VOG I remain pretty sanguine and i think they'll come good .... PRTY i think i should decline to comment

peter I think you did excellent to get out of the shares at 1.20 that was at the height of the day. well done.

Just wondered, dont these online gamers deal with customers in SE Asia or China? Surely there would be more people there then just the US. Is there restriction in place as well?

r88ave..no restriction...people and the city just think the whole world revolves round Yankeeland...myself,i wouldn't go to that nazi shithole if you paid me

Maestro, the all thing is just pathetic its just got to be fixed!