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.

Antigua finds allies among super traders in Internet gaming dispute
published: Friday | December 1, 2006


A computer screen displays an online gambling website. Antigua's quarrel with the United States over market access to its gaming industry was back at the World Trade Organisation this week. - Reuters

The World Trade Organisation (WTO) held two days of talks at the top of the week on Antigua and Barbuda's internet gaming dispute with the United States, from which the twin-island emerged optimistic.

The WTO has ruled in the past that the U.S. was contravening world trade rules by blocking market access, but the large nation of 300 million has so far refused to comply.

Dr. Errol Cort, the finance minister of Antigua, a nation of 69,000, in a statement issued from Geneva said the Caribbean country's position was backed by big trading partners of the U.S., including China, Japan and members of the European Union.

"Major trading partners of the United States have seen it fit to join with us in contesting what we have always maintained is a dispute about granting market access," said Cort in a statement from Geneva, Switzerland, home of the WTO.

Remarkable

"What is even more remarkable is that they choose to become active players in this WTO process, and we believe that a crucial factor in their respective decisions to do so was the pure merits of our case."

The EU's stance on the issue was not surprising given the US$15.5 billion value tag on the industry and the fallout felt by mostly British-based online betting companies after U.S. president George W. Bush signed the Unlawful Internet Gambling Enforcement Act into law, criminalising the processing and settlement of payment linked to online gaming transactions by banks and credit card companies.

Two of the largest companies immediately closed down their operations and exited the U.S. market, one of whom sold part of its operation to an Antigua-based company.

Sportingbet PLC and Leisure & Gaming PLC both sold their U.S. operations for a token US$1 days after the law took effect.

Off-loading debt

Sportingbet sold its U.S. sports-betting, casino business and poker operations to Antigua-based Jazette Enterprises Limited, off-loading US$13.2 million of debt in the process.

Jazette, as a condition of the deal, agreed not to take bets from non-U.S. residents for two years, and not to take bets from customers outside the Americas for three years.

PartyGaming PLC, the world's largest gambling company, also said it had suspended all real money gaming activities to customers in the United States.

Questions

Mark Mendel, Antigua and Barbuda's legal adviser, said the panel would have followed up the talks with a series of questions by Wednesday to the disputing parties, as well as third party interests, the answers to which were to submitted to the panel within a week.

A record of the hearings is to be published December 22, and an interim report on January 11.

"On receipt of the interim report, the parties will be given a period of time to submit their comments and observations on the panel's rulings and recommendations, before the final report is made available to the entire WTO membership sometime in early February 2007," said Cort's statement.

"We have every reason to be confident that - given the merits of our case and the fact that the U.S., having given an undertaking to do so, has done nothing to bring itself into compliance with rulings and recommendations of the DSB - we will prevail at this stage," said Kaye MacDonald, Antigua's Director of Gaming.

- CMC and Financial Gleaner reports

party gaming is on the way back up again are any of you still in there?

Hi. Janet: Presently sitting on 100k at ave. 29.45p. Not quite clear why this has bounced today. Still to research. Do you know ? Regards .

oh dear! at least at 29.5 you have a chance of getting your money back, but should you see a profit (if you're lucky) then cut and run and thank your lucky stars.

I have no idea why they have gone up today, sportingbet have also gone up too.

Hi all ........................ anybody out there still trading this one ... successfully?

Your views welcome on this topsy turvy ride.

Cheers
Amar

amardev - I can't believe you are still flogging this one!!
Your posts don't seem to appear on many other bbs, so do you trade other stocks or just PRTY? If you like gaming stocks, why not 888, SBT etc?
Of course, you have the right to trade whatever stocks you want, but why this one in particular?

Hi Harry ........... Thanks for you response.

Recent trading (2 months) AHT .. BB. ... ROK .... UTG .... WLW .... AVE

Must admit to trading in / out of each of these.

Currently looking at BDEV ... CSR .... MPI ....

I raised the question about PRTY because we were getting loads of postings, a few months back, when it was on the up ................ and now it's gone all quiet, because it drifted back.

I find other views interesting .......... whichever direction the stock is going .... or are we by nature, reluctant to talk when we get the stock picks wrong .... that's exactly when we need support from each other.

Cheers
Amar

Punting for England


Katie Allen
Wednesday October 17, 2007
Guardian Unlimited





The Rugby World Cup, and England's success in particular, has brought in a wave of business for bookmakers - both profitable and costly.


Spread-betting company Sporting Index says it has taken double the bets it had recevied at this stage of the tournament in 2003.


Spokesman Bill Esdaile says momentum has picked up in England's last three games.


"England have been underdogs for all these games. The punters have been siding with England and have made money," he says.


Article continues

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"There has also been a lot of popular interest in Jonny Wilkinson."


For Saturday's final, Sporting Index is taking bets on the numbers of minutes before the England star attempts a drop goal. The expectation is 25 minutes at the moment.


One bet that is drawing in less serious punters is "Harry Spotter", based on the number of times ITV's coverage shows Prince Harry in the crowd. The prediction for that is once So if punters bet it will be more and ITV does indeed show the rugby fan more than once, Sporting index will have to pay out.


While the novelty bets attract a few pounds, spread betting companies have also seen massive sums at play.


City trader Simon Cawkwell, popularly know as Evil Knievel, bet against Sporting Index's predictions on how northern hemisphere teams would shape up against southern hemisphere teams. He cashed in at 250,000.


In Ireland, bookmakers have enjoyed a massive boost to their coffers thanks to England's progress.


"England's success throughout the tournament has been incredible for us because the majority of Irish punters have been looking to oppose England every time they play," said Leon Blanche at Irish bookmaker Boylesports. "An England victory would save us a 750,000 payout on South Africa. So that would really put the icing on the cake, ironically."

This thread is quiet for a stock which is about to make a big move!

Hi Guy ................. Agreed.

Didn't even get a response to my comment from 18th.

I'm in prty ........... looking for a breakout.

Cheers
Amar

me too been in this for some time now looking for a nice profit

Its not looking all that positive at the moment but having said that the current downside might flush out many of the small fry presenting an opportunity to get in at an extremely low level.

Having read some of the earlier comments back in 2005 they were very illuminating in terms of what would likely happen if gaming became legal in the US, however, PRTY appear to be diverifying with the link up with sporting life recently and equally branching out in Germany and other parts of Europe. All of this seams positive for the long term but the Board of Directors are consistent sellers of stock which is a little unnerving

your last phrase says it all .... AVOID!

Cynic..having now read all 14 pages of the post its clear your not a lover of this stock (LOL). Having lost nearly 20k on paper over the last few weeks im not convinced its any less of a speculative punt than the financials. (still sitting on 25,000 shares at 31p). If it gets much closer to 20p the temptation will be too much to ignore unless the market continues to deteriate much more in which case im packing up and going on holiday till its shakes itself out.

you're right ...... and i see no reason to change my view that i have held all along ..... AVOID like the plague and leave to maestro to do his bollox, though they are prob long goned

All gaming stocks are pretty flat at the moment. Cash flow is still good for most of them (except 32RED) but the threat of outstanding U.S. arrest warrants still puts off most takeover bidders (SBT with BWIN). Best performing at the moment is probably 888, imo.

CEO today announnced that he has cancelled his sale programme and does not intend to sell any further shares. That is 5 million shares which will not hit the mkt. Cant decide whether this guy is finally understanding the concept of corporate responsibility or expects the shares to shoot up. Fingers crossed for the latter.

How when a company reports a 52% increase in earnings, is confident for the full year and has diversified its earning stream, does the SP still fall back. There is no logic to the market any more.

this is a 5 bagger at least put u mortgage on it i have