DTakeover speculation smoketoomuch
The analysts on the BBC Radio 5 business programme this evening speculated that, if Ladbrokes purchase 888, either William Hill or Coral will almost certainly make a bid for PRTY. Makes sense to me.

but do YOU make sense to anyone else?
Why should anyone "almost certainly" make an offer (or at least at a premium) for PRTY?

cynic..wake up and smell the coffee....

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

maestro ..... sorry to get personal, but you really do write and download such a load of crap that anything worthwhile (surely there must be something?) is swamped by the general sewage ..... Antigua and Barbuda!! Do you really think US law makers give a toss about them? ....... do you REALLY think there will be an about-turn by US legislature by February or even March 2007? ...... If so, then put your house on it .... i'll treat you to a deluxe cardboard box for when it is repossessed!

no need to risk my house...just a nice guaranteed long spread bet for june will do...and sit back and watch the profits roll in...adios loser!

hahahaha!

The only point I would add to this arguement is, what has PRTY got to offer anyone? They are cash rich but with a minimal customer base. Gala or WMH would need to convince investors that PRTY would increase revenue & products, but both of the above already offer internet poker/casino games. IMO the only thing PRTY has to offer, apart from cash, is exposure to a small far eastern customer base. I am surprised that PRTY hasn't put it's cash to better use so far.

maestro, I don't see PRTY is worth much more than cash value+, say, 10% to companies like William Hill or Coral. IMHO, it is cheaper and far better to build an customised internet operation which also intergrates and extends existing operations. Building one's owner system has other advantages. One of them is closer control by keeping operation in-shore. With an eye to future US operation and tie-ups, perhaps in 5-10 years, it is wise not to be handicapped with trade names which may raise hostility and reservations from the US goverment.