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.

They're about to do a 10 for 1 conversion - not so good. All I want is my money back too but not holding my breathe!

hadnt heard that but seems an unusual tactic. Might not be a bad thing if the price goes up as it will knock out the day traders who play with the share day in day out as 250p gets a bit pricy

Up 12%.

Takeover looming?

i doubt it. More like institutions are buying now it is no longer a penny share. As I pointed out above the consolidation has also knocked many of the day traders out who have been keeping the price down. Hopefully as it ticks up further many more will jump when getting their money back is too tempting and this share price can go north to reflect its revenue growth

MoneyAM
"Online gambling firm PartyGaming today reported Q1 group revenue of $100.1m (2008: $128.9m).

Average daily revenue was up 2% versus the previous quarter due to growth in casino and sports betting.

PartyGaming also announced that a non-prosecution agreement has been concluded with the US Authorities. The company has agreed to pay $105m, payable in semi-annual instalments over a period ending on 30th September 2012. Such payments will be made from the Group's existing financial resources.

Q1 poker revenue was $53.6m (2008: $80.7m); average daily poker revenue down 1% versus the previous quarter due to foreign exchange movements and competitive pressures from US-facing sites.

Casino revenue was $40.9m (2008: $42.3m); average daily casino revenue up 5% versus the previous quarter due to growth in both bet volume and hold.

Sports Betting revenue was $4.5m (2008: $4.7m); average daily sports betting revenue up 19% versus the previous quarter due to growth in both bet volume and gross win margin.

Bingo revenue was $1m (2008: $1.2m); average daily bingo revenue down 27% versus the previous quarter primarily due to the conclusion of Bingo Night Live in Q4 2008.

Clean EBITDA margins remain in-line with full year 2008 performance. "

All gaming stocks (SBT, 888 etc) up between 10-15% today already on the news that the U.S. cloud hanging over the gaming sector is being conclusively sorted out.

They'll allow anything now if it brings in some tax,and the neo rights have gone

+ it now allows for consolidation in the sector hence the rise. SBT looks as though it could be on someone's radar.

Business Financial Newswire
"PartyGaming has acquired online bingo operator Cashcade in a deal worth up to 95.9m.

Cashcade owns bingo websites including Foxy Bingo, Think Bingo and Bingo Scotland, as well as casino sites such as GetMinted and Foxy Flutter.

PartyGaming says the acquisition is expected to be earnings enhancing before amortisation of intangibles in 2009.

The cash deal is made up of an initial 71.9m and up to 24.0m based on future profit performance. Cashcade has been acquired on a debt-free, cash-free basis.

In the year to end December, Cashcade generated net revenue of 44.9m and EBITDA of 12.2m.

PartyGaming is financing the acquisition from its existing cash resources. "

Can't quite see why it should open 10% down

There hasn't been a rights issue to my knowledge and doesn't pay a divi

got me stumped im sure someone will come up with a reason. Ive held it for 2 years through think and thin so whats the difference to holding on for another 2. I expect consolidation in the sector eventually

LONDON, Oct 20 (Reuters) - "Indian billionaire Anurag Dikshit is to sell two thirds of his 28 percent stake in online gambling firm PartyGaming (PRTY.L), according to a statement released via Business Wire.
Dikshit, who is the company's second biggest shareholder and a co-founder of the company, will sell 75 million shares or about 18 percent of the company via an accelerated offering to institutional shareholders.

The shares are worth just over 213 million pounds ($350 million) based on Monday's closing share price of 284.5 pence.

Dikshit pleaded guilty last December to breaking the law against Internet betting in the United States and agreed to forfeit $300 million. PartyGaming itself has since settled a similar dispute with the U.S. Department of Justice.

He will continue to hold about 39 million shares or 9.5 percent of the company following the sale, remaining its second biggest shareholder."

oh well its only a loss if you sell...hopefully they might take another hammering and buy in at a much lower price..the averaging down will let me get out a lot quicker on the way up. far more comfortbale doing so now they have settled the action in the US

Goldman sachs doing the placing & rumour is that the book is almost closed now.
Immmediate price target 255p (Ironically set by G.S.) but would expect the sp to recover pretty quickly.

Thanks for that Harry.

'Open A Buy Bet In The PartyGaming Rolling Spread '
Fundamentala and Technical view on www.uk-analyst.com

Business Financial Newswire
"Online financial spread betting, foreign exchange and derivatives broking firm London Capital Group has signed a three-year contract with PartyGaming to provide a white label financial spread trading platform.

The trading platform is now live at www.intertrader.com "

Business Financial Newswire 11.01.10
PartyGaming has signed a five-year agreement to provide a platform for poker and casino games for the Danish government-controlled Danske Spil betting group.

Denmark published draft legislation in 2009 for a partially liberalised gaming market, expected to become law in 2011. Poker and casino will be among the games subject to open competition.

PartyGaming CEO Jim Ryan said, 'This is a landmark B2B deal for PartyGaming and validates our strategy to become a leading provider of B2B services to both corporates and governments around the world.'

Wow... PRTY is already off support level... just waiting when to enter.

As much chance as Yell