Partygaming Share Discussion Threads

[bleepy] 10/11/2010 09:21

Boggle

On Nov 2nd in the FT,analyst Dave Jennings of Davy was expressing concerns as to whether future European regulation would suit the merger,naming France as an example.He also went on to say there were to many unknowns for them to forecast earnings for the proposed merger over the coming two to three years.

I cannot find any mention of US style compensation claims.

Partygaming issued the following rns on Nov 4th,perhaps in response to the above.

RNS Number : 6087V
PartyGaming Plc
04 November 2010

4 November 2010

PartyGaming Plc ('PartyGaming') and bwin Interactive Entertainment AG ('bwin')

Merger on Track

The boards of PartyGaming and bwin have become aware of some speculation in the market concerning the proposed merger of both companies. Both companies confirm that the process is on track and the merger is expected to complete in the first quarter of 2011.

[bogg1e] 09/11/2010 17:56

Hi all, ive just been informed that the FT gave a report in which it was stated that the prty/bwin merger could be derailed by the EU and furthermore the EU or certain member countries could attempt to gain compensation from online gaming operators in a similar fashion to the DoJ in the states. Could anyone please verify this? An hour or before i was told this i topped up a further 10k gbp, so im obviously concerned! Thx.

[guidfarr] 08/11/2010 20:03

guidfar's article - hey i don't hold copyright ;)

[hubshank] 08/11/2010 09:29

Hi Louie, nice to see you here too! I think the expression is "every dawn has its day", or something similar. Reading Guidfar's article holds some optimism still and the press release concerning the merger being on track was positive too. I think a lot of these Brokers downgrade shares to get their desired entry point, or to cover their tracks for not having bought in sooner.

[guidfarr] 07/11/2010 22:44

bit long but interesting


Reid Win Opens Door For Internet Poker
04 Nov, 2010 / Gambling Compliance Ltd / Tony Batt
It was Harry Reid or bust for the Las Vegas gaming industry this week and when Reid defied the polls by winning re-election, Internet poker legislation gained a new lease on life.
While it's far from certain Reid will use his power as Senate Majority Leader to shepherd an online poker bill through this month's lame duck session of Congress, at least there is hope.
"I know that the Internet gaming bill has a better than decent chance now, and had he lost, it would have been DOA (dead on arrival) for decades," said Jim Murren, chief executive officer of MGM Resorts International.
"We would like to participate (in Internet gambling) in the right form and this was a positive for the whole industry," Murren added of Reid's election win.
But as Democrats regroup after a devastating mid-term election that saw them lose control of the House of Representatives and suffer significant losses in the Senate, will Internet gambling legislation be a priority for Reid?
"I think that's an issue people tend to be cautious about," said Ross Baker, a political science professor at Rutgers University who was a resident-scholar in Reid's office from January to May in 2008.
"The last time I checked, the Reid people said they were thinking about it. It's a possibility," Baker said.
Former U.S. Senator Richard Bryan, D-Nev., who served in the Senate with Reid from 1989 to 2001, said there may not be enough momentum to pass an Internet poker bill before the end of the year.
"I think Democrats are still in a state of shock," Bryan told GamblingCompliance.
"I don't know if the energy level is there. It may not be a priority. It may be viewed as a collateral issue."
But Baker said the lame duck may be the best opportunity to pass Internet gambling legislation. Democrats will control both chambers of Congress until January when a new session begins with more Republicans, who tend to oppose gambling.
"A lot of things get done in a lame duck that are a little bit unusual," Baker said.
"This opportunity comes along once every two years. You do what you want to do."
Reid's victory over Republican Sharron Angle came after the former Nevada Gaming Commission chairman received staunch backing from the Las Vegas Strip's largest casino operators, with MGM and Harrah's most notable in endorsing Reid in campaign commercials and also reportedly encouraging their employees to hit polling stations in the run-up to Election Day.
Historically, casinos have hedged their bets by giving money to opposing candidates in key political races. That way, their contributions guaranteed access to lawmakers no matter who won.
This time, though, the gaming industry had put all its eggs in one basket.
For example, MGM's Murren and American Gaming Association president Frank Fahrenkopf, both lifelong Republicans, made generous financial contributions to Reid but shunned Angle.
Reid's skills as a legislative strategist will be invaluable in any federal push behind legalizing Internet gambling, Bryan said.
"He may not have exceptional retail political skills, but when it comes to legislative strategy, he is in a class by himself," Bryan said.
Reid entered the weekend before the Nov. 2 election trailing Angle by 4 points in several polls. Bryan attributed Reid's victory to his superior get-out-the-vote effort.
"No question, it was his finest hour," Bryan, Reid's former Senate colleague, said.
Baker said Angle also contributed to her defeat by avoiding the media in the campaign's closing days. "She was the most inaccessible public figure since Greta Garbo," Baker said.
Reid's win was also welcomed beyond Las Vegas yesterday. Senator John Kerry, D-Mass., the Democratic presidential nominee in 2004, issued an especially strong-worded statement hailing Reid's return as Senate Majority Leader.
"Harry Reid isn't just Dracula, he isn't just Lazarus, he's our leader and our whole caucus is thrilled that he's unbreakable and unbeatable," Kerry said.
Baker said he would not be surprised if Reid, who turns 71 next month, runs for a sixth term in 2016.
"He thrives in the atmosphere of the Senate," Baker said. "He's a very unusual man. He is consistently underestimated, and you underestimate him at your own peril."


US Poker Lobby Shuffles Deck After Democratic Defeats
05 Nov, 2010 / Gambling Compliance Ltd / Tony Batt
The online poker lobby on Capitol Hill is set to switch its attention to the United States Senate after sweeping Democratic losses that will see the industry's chief advocate to date, Rep. Barney Frank of Massachusetts, demoted from his position of influence in a key House committee.
Almost 25 percent of the 58 congressional candidates – nearly all in the House – endorsed by online gambling advocacy group the Poker Players Alliance lost their races on Tuesday.
But the PPA still plans to launch an aggressive lobbying effort for an Internet poker bill during this month's lame duck session of Congress, according to executive director John Pappas.
Of the candidates endorsed by the PPA that won, it was the re-election of Senate Majority Leader Harry Reid that was the most important, Pappas said.
"We plan to push very hard for an Internet poker bill during the lame duck, and Senator Reid will play a critical role in that process," Pappas told GamblingCompliance in an interview yesterday.
The lame duck session of Congress is scheduled to begin Nov. 15 and will run until December.
If Congress does not pass an Internet poker bill before the end of the year, PPA is likely to shift its lobbying efforts from the House to the Senate in 2011, Pappas said.
"We're hoping to get a hearing or a markup (committee vote) in the Senate on the Menendez bill," Pappas said, referring to a bill by Sen. Bob Menendez, D-N.J., that would exempt Internet poker from the Unlawful Internet Gambling Enforcement Act (or UIGEA) of 2006.
The expected gains that will see the Republican Party take control of the House of Representatives diminish the prospects for Internet gambling legislation progressing there significantly.
But Pappas, a former staffer of a Republican congressman from Arizona, said the wider turnover in the House may actually help the PPA.
"Fresh faces are good for our issue. Our problem has been entrenched members," Pappas said. "Traditionally, Republicans are not supportive of poker. We are trying to dispel tradition."
Still, a major stumbling block will be the removal of Rep. Barney Frank as chairman of the House Financial Services Committee.
Frank, to date the leading advocate in Congress of Internet gambling, is likely to be replaced by perhaps the House's leading opponent of online wagering – Republican Spencer Bachus of Alabama.
Although Republicans have questioned whether Bachus is up to the job and Republican Ed Royce of California is expected to challenge him, Bachus remains the favorite to become the new committee chairman.
"We just have to find other ways to work around the chairman," Pappas acknowledged.
Frank is likely to remain as the leading Democrat on the House Financial Services Committee, but he seems to have lost the chance to play the lead role in a congressional move to roll back UIGEA, which he famously described as one of the "stupidest" bills ever passed.
In four years as chairman, Frank never managed to advance the bills he introduced to legalize and regulate online wagering to the House floor. Although the committee passed his most recent bill by a 41-22 vote on July 28, that's as far as it went.
The prospects of Frank's partner in fighting the Internet gambling ban, Rep. Jim McDermott, D-Wash., seem even worse under a Republican-controlled Congress.
The presumed new speaker of the House, Rep. John Boehner, R-Ohio, has in the past sued McDermott for violating state and federal wiretapping laws when he leaked a tape of a 1996 phone conversation including Boehner and then-Speaker Newt Gingrich.
In March 2008, a federal judge ordered McDermott to pay Boehner more than $1m for attorney's fees, costs, interest and fines. McDermott said he would not appeal.
As Speaker, it will ultimately be Boehner who decides which bills, once out of committee, reach the House floor.
Pappas downplayed the conflict between Boehner and McDermott and said Frank will remain an important figure in the fight to legalize Internet poker in the United States.
"(Frank) is our best ally on Capitol Hill. His passion and interest in this issue is the reason we are where we are today," Pappas said.
The biggest disappointment for online poker on Election Day was the defeat of Rep. Paul Hodes of New Hampshire, according to Pappas.

Hodes was among the 41 members of the House Financial Services Committee who voted for Frank's bill on July 28, but he lost his bid for a seat in the U.S. Senate to Kelly Ayotte, a Republican backed by former Alaska Gov. Sarah Palin.

Better news, Pappas said, was the re-election in the tight Senate race in Colorado of Democrat Michael Bennet, to date the only co-sponsor of the Menendez poker bill.
Less than a week before the election, PPA organized a poker tournament in Golden, Colorado which allowed Bennet to talk to about 300 voters.
Bennet, Hodes and Nevada's Reid were the only three Senate candidates endorsed by the PPA.

[louie76] 05/11/2010 23:07

Hi Hubs, nice to see you're still in here, 10 out of 10 for staying power! Good luck!

[hubshank] 05/11/2010 14:19

Hi Bogg. Many congratulations. Next thing you will be on here complaining of sleepless nights caused by little Boggles! Agree this feels like bottom. I bought another tranche at £2.35. should have waited a day and got them even cheaper but the crystal ball was a bit foggy that day.

[midasx] 05/11/2010 07:37

Taken a punt here yesterday, fall overdone! we will see?

[bogg1e] 04/11/2010 12:37

Hi Hubshank, Things are getting better thanks. Moved house, got married, and in all the (albeit good) palava, didnt keep an eye on the markets and got caught out in the drop at the beginning of the year. Just got caught out again here - im in at 260 and 250p, and with other cash on other positions i cant top up, cos this feels like the bottom to me! Been using vectorvest for a whl ennow though and that has helped turn things around. How are things with you?

[outfly] 04/11/2010 10:34

Merger Update

TIDMPRTY

RNS Number : 6087V
Partygaming Plc
04 November 2010

4 November 2010

PartyGaming Plc ('PartyGaming') and bwin Interactive Entertainment AG ('bwin')
Merger on Track
The boards of PartyGaming and bwin have become aware of some speculation in the
market concerning the proposed merger of both companies. Both companies confirm
that the process is on track and the merger is expected to complete in the first
quarter of 2011.
Contacts:
PartyGaming Plc
[phone]
Peter Reynolds, Director of Investor
Relations
John Shepherd, Director of Corporate Communications
bwin Interactive Entertainment AG +43
(0) 50 858 20017
Konrad Sveceny, Investor Relations







This information is provided by RNS
The company news service from the London Stock Exchange
END

[salpara111] 03/11/2010 16:30

Totally crushed today.

I wonder if it is worth a punt at 210 ish.

[mickmocallum] 03/11/2010 10:31

Who ever takes control it really doesn't matter. Governments need money and if they realise an easy cash cow eventually they will milk it. Its just political posturing at the end of the day. When other options are exhausted and with pressure it will turn, not tomorrow, not the next day,but it will.....

[goldie40] 03/11/2010 09:04

barney elliott wins in the usa gaming conferance in the the usa nov 15 to 18

[hubshank] 02/11/2010 10:36

lack of interest in the sector at the min. Did the same last November.

[salpara111] 02/11/2010 08:59

Anyone have a feeling for why we are experiencing such a slide?

The US issue is not really relevant..if/when the US does decide to open up their internet gambling market you can be absolutely certain that they will do it in such a way that only US based operators get to step up to the table. There is simply no possibility that they will allow companies like PRTY unfetterd access to their market as the beauty of an internet based business is the ability to offer a service in another country without having to hire a single person in that country or pay much in the way of tax in that country either.

If PRTY are to grow then it must be on the assumption that the US is not part of the plan.

[hubshank] 01/11/2010 09:28

From above....

"Several of software provider Boss Media's top online casinos have pulled out of the Canadian market. Bwin is the biggest of those online gaming companies, and they are claiming they have left due to Canadian regulations. etc. etc.

It appears that overseas operators might not be getting licences in Canada - I hope this is not the model the US use."


The WTO have ruled against the US, not they have taken a blind bit of notice, so in theory the US "have" to allow some overseas operators in - but it is the US and they are a law unto themselves. Surely the sensible thing for them to do would be to allow one or two compliant operators in, raising the taxes and jobs they desperately need, and maintain world wide political correctness.

Hello Boggle, how are you doing? long time no speak/hear.

[bogg1e] 01/11/2010 09:26

Leon yes, while they are still based in Gibralter. However i dont know where the merged company will be HQ'd after the merger, if it remains in Gibralter all well and good.

[leoneobull] 30/10/2010 09:03

can 1 still trade these stamp duty free?

[alistair50] 30/10/2010 08:05

I suspect that the prospect of Republican gains in both American houses is raising the chances of Barney Franks legistlation on internet gambling being blocked. Hence the drop in share price. I hold prty shares mainly on the huge potential of the American market re-opening. If it dosn't I cant see major growth.

[memory_leak] 29/10/2010 19:06

PartyGaming Plc: 50% upside potential say Numis

WRITTEN BY SAM COVENTRY
THURSDAY, 28 OCTOBER 2010 10:00

PartyGaming Plc (LON:PRTY) has been tipped to hit 400p a share by the team at Numis Securities.

Numis have today maintained their Buy rating on PartyGaming - there is therefore an upside potential of 50% from the current trading range.

PartyGaming shares are 0.79% higher at 268.10 in London at 10:40 AM.

On the 22nd of October PartyGaming said its merger with sport-focused operator Bwin was proceeding as planned, as it saw a 9 per cent rise in revenues in the three months to the end of September.

The deal with Bwin – due to complete at the end of March – will create one of the world's biggest internet gaming groups and give poker- and casino-focused PartyGaming further exposure to the growing field of online sports betting.

Looking at the markets we see strong support for equities this morning across Europe.

European shares bounced back in morning trade on Thursday, with forecast-beating company results underpinning the market and firmer metals prices on supply concerns and a weaker dollar boosting mining shares.

[bogg1e] 29/10/2010 12:54

Hi Shay, been eyeing up sbt myself, i think we bought in a wee bit too early, but in spite of warnings of a general downturn thatnks to QE concerns etc, at least we are close to a likely reversal point. GL.