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.

Also very worth a read :

http://economist.com/business/displaystory.cfm?story_id=7997055

PP .... the Washington attornies and everyone may ultimately prove that the US "is breaking the law", but it is likely to be a long time coming to court and of course much longer until there is a definitve result and all appeals finished .... in the meantime, many of these internet gambling companies will be long finished

looks like the buyers in us are looking to take over online gaming business in the us. There could be quite a lot of action over the next few weeks. Look at the news in sunday times online out today. sportingbet have been approached by quite a few companies. If the gaming companies get taken over in us. Then the new rules and regulations with not affect us. Time for a cup of tea. Have a nice sunday everyone.

news just come out 2.45 uk government draws up plans for online betting report.

PARTYGAMING TO BE DELETED FROM FTSE 100

that does mot surprise me now it has dropped down to this current level.

Well, we can all be wrong, but opinions may vary . . .

Partygaming downgraded to 'SELL' by Numis Securities with 23 Pence target.

Dresdner Kleinwort maintain 'BUY' rating on Partygaming, current price target 56 Pence (cut from 75p).

my money would go to Numis ..... but then my money would not be in PRTY anyway!

I think the thing that is saving PRTY from collapse is the fact that it has big cash reserves, even allowing for the $250m write down for lost U.S. business.
IMO it's has got to acquire a bigger market share, so maybe it is seeking targets???
The 23p must be a projected valuation based on the remaining 15% of it's business, much the same way as SBT was revalued.
M or A has got to be the way forward.

With the money taken off the table during float, the founders can easily setup an US online gambling operation - if they are willing to face US revenue authority scrutiny and pay US taxes.

Anyone know the current PRTY cash reserve per share? Thanks.

"Online gambling group Partygaming has said that restructuring its business after pulling out of the US will cost it about $250m (133m)." (BBC Business)

Why?

it's a goodwill write off, (intangibles) not a cash loss.

buy this should be 40p ,

The recent results look very good on the non USA business how many other companies have gains of 158% in turnover in a quater. Obviously you can di anything with the figures and they are trying to be seen in the best light, but compares to SEO's board they are supersonic genii (or geniuses)

Tanker well I bought SE38 instead http://uk.warrants.com/services/quotes/details.php?code=SE38 (This link thing looks very wrong. )

Sorry about my dyslexic fingers

15 million PRTY shares bought after the bell tonight at 29.23.

For all companies in which we invest, we have to ponder seriously whether the company and its staff (especially the managements and executives) will not act against, sacrifice or ignore the interests of ordinary shareholders for the benefit of themselves and large shareholders.

Small shareholders without access to insiders suffer from many extra risks and penalities.

i know i keep saying this, but be aware that a buy of any size can very easily be someone closing a short position ..... this will apply especially with the likes of PRTY and SBT and CPW where there are some huge short positions in place

cynic, thanks for the reminder.

I have another reason for being extra cautious on PRTY. IMHO, US IR may still be interested in pursuing the founders, past and current senior staff, wherever they are. If US can be concerned about 3m to extradite the Barclay bankers, then the incentives are much greater to find ways to "recover" $100m's for the US taxpayer. Image also the name one can make for oneself if one can claim credit for adding $100m's to the US treasury ...

Only IMHO, NAG etc