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.

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

OK, OK we know most of the bad news, mainly that there will be no easy-money from the US, where it was easy taking their dollars so easily. For that the sp has fallen from c.4 to abt 30p now. [EDIT: peak price was just over 1.50]
PRTY owns a database (of willing US-punters), that many US-based gaming businesses will be willing to buy. Either for cash, or maybe a share in new business, who knows?
However, as far as we know, PRTY has cash; + it stopped paying the dividend which was abt 2% ( at today's sp, about 26% yield.[EDIT: 9%])...used to buy other businesses in Europe and the Far East where I understand they continue to make profits - anyone here of a Gambling disposition - IS this TRUE?

Furthermore the sp fall may have been MM's making hay, knowing that Institutions would sell their stash once the stock is kicked out of the FTSE rankings......a no-brainer IMHO.....so MMs are at levels that they can't believe, since I doubt many PI's have bought the surplus, neatly explaining the 13x fall in sp (and maybe nearer 15x).
PRTY is ISA-able being full list and there is every hope that it will climb-back....since it's only the "Selling-Off" that caused the fall.
It is true that income will be down, but profitability should not be affected, since I understand the "Write-down" is a goodwill exercise - it is not PRTY paying cash so they can walk away from the US.
There may be US-led calls to extradite execs - but what is legal here (and was there by many heads)...puts the US-extradition into focus in the same way it has with the so-called Nat-West four.............but the US-favoured Treaty was intended to catch international Terrorists - not petty city types employed by Banks, or game-companies.........therefore I suspect any high-jinks with UK Execs will soon back-fire and the US Authorities will be told what to do....starting with Human Rights (oops!) of their own regime.

............Is PRTY a good BUY...........?
Dunno, even though I have a few at 30p in my ISA and a few in certificated form, soon sitting in the Bank, that way I should get the paperwork and maybe a free spin of a roulette wheel at the AGM, flanked by some heavy bunnies. Investment neednt be taxing, to mis-quote a slogan. If they reach 1 and restore the 2% dividend , that will pay me the equivalent of 6.5% which can't be bad on a stock that has most of the BAD news in the price and almost none of the Good News anywhere to be seen. If it reaches just 50% of earlier levels (2 say) the yield equiv is over 12%....maybe in four year's time if I'm lucky........
Has anyone access to recent REFS?
What is the historical NAV/Cash etc?
Anyone that is still Holding, what are yr views and why didn't you sell when the news broke some months ago? Would be interesting.
Cynic...I don't short...you obviously know the technique - if a shorter closes their position I presume thay (presently) will be taking a Profit and "think" it is unlikely to go lower........so why isn't this a good time to buy or take a position expecting a rise? Yr thoughts looked at the other way, perhaps?