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?

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!

NEED SOME POSITIVES FROM TODAY,IS THE PRICE GONNA BOUNCE TOMORROW,OR ARE WE GOING TO HAVE MORE HEADACHES LIKE TODAY.

well judging by IG's spread on LNG today 10p offer ,6p bid..they want to deter buyers...you'd think that company with all the milions they make would make a fairer spread than that...greedy gits!

I think I am right in saying that 50% of SBT revenue comes from the U.S.
I saw a report today that there is a risk that as PRTY is 85% dependent on the U.S. then the shares are almost classified as junk stock now that they have lost a huge part of their revenue source, sp down 60% & revenue yeild now calculated at 12.5%
SBT & 888 should survive, but I wouldn't be surprised if, now that supply now outstrips demand, that consolidation maybe on the cards. There may be too many internet gambling companies chasing too few customers.

Citywire. On-line gaming devastated as US plans to ban banks making payments

The signature of US president George Bush on a shock piece of legislation will effectively outlaw payments for on-line gaming and turn a booming industry into one of potential bust.

Big players like PartyGaming, Sportingbet and 888 Holdings have been rushed into issuing profit warnings and say they are likely to pull out of the US market which is where most of their income comes from.

All the shares were hit hard. Market leader PartyGaming saw its share price crash by over 60% before settling at 47.75p, down 59.375p or 55.49%.

On Saturday the US Congress approved The Safe Port Act which was passed to the House of Representatives and Senate which forwarded it to the White House for the president's signature which will make it law.

When passed, the act will simply make it illegal for banks and credit card companies to approve payments for on-line gambling sites.

Given that the US authorities have made their disapproval of on-line gaming clear with the arrest of Sportingbet chairman Peter Dicks in New York last month and BETonSports chief executive in Dallas in July, the president's signature is expected in the next two weeks.

Efforts to outlaw on-line gaming in the US have been getting nowhere fast. The Safe Port Act has caught the industry by surprise in that it doesn't outlaw on-line gaming, but prevents the participants from paying for it.

Provisions in the bill, in a section labelled the 'Unlawful Internet Gambling Enforcement Act of 2006', outlaw the processing of payments between US gamblers and on-line gaming companies.

Although the act makes unlawful the receipt by a gambling business of proceeds or money in connection with unlawful internet gambling, it does not clarify the definition of unlawful gambling.

But PartyGaming says that if the bill is signed it will be practically impossible for it to provide US residents with access to its real money poker and other real money gaming sites.

'If the President signs the act into law, PartyGaming will suspend all real money gaming business with US residents, and such suspension will continue indefinitely, subject to clarification of the interpretation and enforcement of US law and the impact on financial institutions of this and other related legislation' it says in a statement to the Stock Exchange.

Scott Longley, editor of Egaming Review said: Theres going to be no dead cat bounce on this one. This pussy is well and truly flattened'.

PartyGaming PR man John Shepherd shares Longleys pessimism: The measure outlaws the processing of payments between US customers and on-line gaming companies. It makes it practically impossible for us to provide any US resident with our real money online gaming service.

Sportingbet is more optimistic. It points out that its 'non-US international banking partners' will first have to determine whether the new act applies to them.

It also notes that the law explicitly exempts US gambling interests and it is seeking clarification as to the legality of this under US commitments to the World Trade General Agreement of Trade and Services.

But the stock market has assumed that the on-line gamblers will lose all their US revenues and has cut share prices by the percentage of business which comes from the USA.

Lumley reckons that PartyGaming will lose 60% of its business. He thinks 888, down from 146.5p to 95p, and Sportingbet, down from 184.25p to 79p, have similar percentage shares from the USA.

He says the percentage will be even higher for Leisure and Gaming, down more than two thirds from 38p to just 12p, and adds that World Gaming, down from 64p to 12.75p, is practically entirely US-based.

Of the larger on-line operators only Ladbrokes and William Hill have no US customers. William Hill shares were down 2p at 641.5p, while Ladbrokes was up 1.5p at 390.5p.

The big question now is whether other countries follow the US lead. And is there any sort of fight back in the US?

Longley claims that other European countries cant simply ban something which is perfectly legal in the UK, and says that EU law makes it hard to ban on-line gambling.

Both he and Shepherd claim that the Safe Port Act has been pushed through to protect US gambling monopolies including state lotteries, horse racing and Las Vegas.


Citywire verdict: Although the new act has caught the industry by surprise, the writing has been on the wall for sometime and the big players have been expanding outside the US as fast they as can.

As the US has always regulated gambling, the question has often been posed about how long it would allow a new bunch of web-based players near unlimited access to its wallets of its gambling addicted citizens?

The Safe Port Act doesn't outlaw gambling so much as they way it is paid for, so it will doubtless be challenged in the courts.

Although the moral standards may be duplicitous, given the strength of the Christian Right in the US and the countrys puritan past, it is difficult to imagine a successful legal challenge.

We'll start with the good news for those of you who hate on-line gaming related firms for all the addictive traits associated with gambling. It is ironic that the US authorities are striving to protect its residents from the evils associated with anti social habit of gambling, by targeting company directors of listed companies with US facing on-line gaming businesses...arresting and charging them with racketeering and the taking of illegal bets, and tax evasion. Perversely, another gambler has been hit rather hard today....the ordinary investor, fund managers, etc.

The wrong kind of interest has hammered gaming associated stocks hard today, and the blood letting may not be over. I sure its not.

US Congress unexpectedly passed a bill this weekend that could help outlaw on-line gambling. The new proposals would make it illegal for banks and credit card companies to settle payments to on-line gambling sites.

The measures were tacked on to a bill aimed at enhancing port security, and passed on Saturday. The bill needs to be signed by President George Bush to become law.

For example, Nobody was partying at *PartyGaming or *888 Holdings as related companies plummeted today, with *PartyGaming lost 62p to 45p and 888 fell 38.25p at 108p. *Sportingbet lost a massive 134.5p to 49.75p, while Gaming VC, be it a European facing business, was also hit rather harshly, plummeting 30.5p to 108.5p. The U.S. legislation came as a shock to everybody, especially as in the last 8-years the bill never got through. Although early trading looked even worse, this will not be any comfort to anyone holding on-line gaming related stocks.

* Not Lemming Investor stocks

As we previously warned in mid August. The main battle is in the US where there is a ban in most states. The US has been a heated battleground surrounding moral issues for a few years now. An estimated 20 million Americans - well over half of those betting globally - visit on-line gambling sites - the Bush Government wants to keep the ban in place, arguing that Internet gambling threatens public morals and contributes to the spread of crime. With the US taking no prisoners (well, actually they did), the ante has been raised against US targeted gaming sector. The U.S. House of Representatives has passed a bill that prohibits the use of credits cards for gambling. Professor Joseph Kelly of the State University of New York, a leading US consultant to on-line gaming industry, believes "You can't enforce it. People will just use electronic cash entities like NETeller." This has been the cornerstone of our Bull argument for NETeller. So we thought. Unfortunately, the company has been hit harder than most related companies.

NETeller said the new US gaming legislation unexpectedly passed by the US Congress this weekend 'may have a material adverse effect' on its US facing business.

The company said it is considering the potential impact of the Act and once it has more information about what the regulations will stipulate, it will have a clearer view of which companies are affected, how those companies will be expected to comply, and any possible resulting impact on NETeller.

NETeller, which draw a large chunk of their income from money transfers to on-line gambling companies, were also badly impacted by the legislation. NETeller fell 214.5p to 140.5p.



On-line gaming software developer, Cryptologic also took a hit. Though not as harsh in percentage terms, nevertheless, the shares fell 245p at 957p. The company said Licensees will no longer take U.S. bets; after five years of planning have been hit. With more than 70% of its licensees' revenue now coming from outside the U.S. CryptoLogic is one of the industry's most geographically diversified businesses. In an attempt to quash investor fears, CEO Lewis Rose said, 'Since 2001, CryptoLogic has been shifting its business to Europe, and our record revenue and earnings in 2005 and 2006 to date flow from our success in the markets that embrace Internet gaming. 'While the new U.S. developments will be a challenge for the industry, our company's diversification, strong balance sheet, thriving European customers and potential new business in emerging markets enable us to face the future with confidence.'

http://www.lemminginvestor.com/newshub.html

Hi Janet B,
I am very sorry to hear about your losses, it seems you haven't had a lot of luck recently. The thing I'm surprised about is why you have such huge exposure to so many risky stocks such as PRTY, GOO, VOG and IOT, particularly considering, if memory serves me correctly, you had to remortgage your house earlier this year due to margin calls on VOG. If your financial advisor told you to panic sell GOO at the lowest price the other week, then panic buy it back when it was much higher then I suggest you ditch him immediately. Have you received a call telling you to sell PRTY now? - Losing the dividend definitely implies things are only going to get worse there. Prehaps you ought to reconsider how much risk you can afford to take. Whatever you do, don't expose yourself to even more risk in the hopes of winning back your losses - it will almost certainly only compound the problem.
Best of luck, Frampton

Hello frampton. I have read your thread and am taking note of it. I have had a really bad time just lately. My financial advisor did not advice me to sell goo when I did, I just panicked at the time. Then I decided to buy them back again. Unfortunatly at a higher price. They will now need to go up ot 17p for be to break even on that one. with regards to the others I still have them as well. Prty seems to be getting worse. I noticed a lot of buyers at the end of the day. I will see what happens tomorrow. Good luck to you.

Janet,

I've read some of your posts. I think you should change your financial advisor. With friends like him, you certainly don't need any enemies.

Frist welcomes Taliban after sneaking internet gambling measure into port security bill
U.S. Senate Majority Leader Bill Frist pulled a "Taliban" of his own Friday night by sneaking unrelated internet gambling provisions into a port security bill while removing key measures that would secure the nation's mass transit system.

A number of Democrats were outraged and vehemently opposed the addition of the internet gambling measure but voted on the bill unanimously in order to ensure port security.

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

Frist spoke like a Taliban when he addressed online poker as "a serious addiction that undermines the family, dashes dreams, and frays the fabric of society".

While Frist was pursuing the scourge of online poker and its adverse affect on families, a colleague, Mark Foley, resigned after learning his sexually charged internet exchanges with a young male congressional page were about to go public. Foley today blamed his behavior on alcoholism. And here we were thinking his perversions may have been brought on by internet poker.

Bill Frist is currently listed with odds of 30-1 to become the next US President at Sportsbook.com.

Frist' ideal America?


More than 10% of the American public are believed to play poker online. The Powerful Poker Players Alliance urged its nearly 100,000 members not to vote for any politician who favored a ban on internet poker.
Frist' next bill: Women must cover up their faces?

Now for those of you who thought that Bill Frist acted in a sorta "Taliban-like" fashion this past Friday night.....put your seat belts on!

Bill Frist is calling for the Taliban to come back into power in Afghanistan.

The Associated Press reported Monday that U.S. Senate Majority Leader Bill Frist said the Afghan war against Taliban guerrillas can never be won militarily and urged support for efforts to bring "people who call themselves Taliban" and their allies into the government.

The Tennessee Republican said he learned from briefings that Taliban fighters were too numerous and had too much popular support to be defeated on the battlefield.

Afghanistan is suffering its heaviest insurgent attacks since a U.S.-led military force toppled the Taliban in late 2001 for harboring al-Qaida leader Osama bin Laden.

According to an Associated Press count, based on reports from U.S., NATO and Afghan officials, at least 2,800 people have been killed nationwide so far this year. The count, which includes militants and civilians, is about 1,300 more than the toll for all of 2005.

Maybe Frist should stick to sticking provisions such as restrictions on internet gambling to bills where they do not belong instead of sticking his foot in his mouth. Next thing you know we'll have Talibans in the Senate.

David Goldstein of the Huffington Post explains the State of the Republicans under Bill Frist:

"Not since the 1919 Black Sox have we seen a more determined effort to throw a game than that of the current Republican leadership. The Keystone Cops routine performed by Hastert, Reynolds and Shimkus seems designed to exacerbate and extend the Foley scandal as much and as long as possible, while the stupidly self-destructive deflections of White House Press Secretary Tony "Naughty Emails" Snow and GOP surrogate blowhard Matt Drudge (blaming Foley's downfall on "these 16 and 17 year-old beasts") couldn't have been more outrageously scripted by the satirical mind of Jesus' General.

"If the GOP wants to ensure a Democratic sweep in November, this is exactly how to do it.

"Yet apparently, political ambition knows no bounds, for even in the midst of this unrelenting firestorm, the title of Republican Idiot King continues to draw stiff competition, most notably today from outgoing Senate Majority Leader Bill Frist, a man who has made a hobby of repeatedly dashing his presidential hopes on the rocks of his own political mediocrity.

"The point is that the GOP's number one man in the Senate could possibly be so stunningly, politically tone deaf."

---

Christopher Costigan, www.gambling911.com

Originally published October 2, 2006 11:25 pm ET

What's your point maestro?
Do you support the opinions expressed above or are you feeling bitter about suffering losses.

harry..i hate all the yanks who are against freedom..nuke 'em!

need to re employ Biladen to go after yanks