Partygaming Share Discussion Threads

[brownie69] 08/12/2010 20:59

Apologies if I've missed the obvious but a quick look through the RNS's hasnt found anything.


Do Party have a B2B deal with MGM in the US? I can find reference to such a deal being suggested back in Nov 2009, but not confirmation that it occured.
FWIW I'm told by an insider that such a deal has been done and thus I'm wondering if its already priced in.

Would bne important according to my contact because the bill is moving anmd has a chance of getting through but will not allow non US based operators into the market for two years thus B2B going to be the route for the likes of Party.

[bleepy] 08/12/2010 16:11

An article in Egaming states that the legislation proposed by Barney Frank has been listed for debate twice in the current lame duck session( www.GovTrack.US)
Calendar no. 398.
It is possible for one bill to be absorbed into another,at the moment Reid's bill is a set of proposal's that could be added to or taken from if passed.

Lawmakers in Washington are pushing to introduce online poker services to their residents before year end.

There's seems to be an exerted push by lawmakers to get online poker sites up and running for US customers be it at State or FED level.

[mechanical trader] 08/12/2010 16:06

cwertainly medium term support at 240p.

[mechanical trader] 08/12/2010 16:04

refering to brokers copied this from above.

looks to me like we will gain the lost ground
back very quickly.

Its very interesting to see what Buys brokers have recently pencilled in for this going forward.

PartyGaming PLC

FORECASTS 2010 2011
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
01-12-10 BUY 92.30 19.00 103.00 21.30
Peel Hunt
30-11-10 BUY 71.98 15.24 81.85 16.95
Shore Capital
26-11-10 BUY 48.91 16.76 62.77 18.37
Evolution Securities Ltd
24-11-10 BUY 69.14 14.30 75.48 15.57
Numis Securities Ltd
17-11-10 BUY 82.94 18.65 94.13 20.51
Execution Noble
16-11-10 BUY 78.16 16.97 91.51 19.66
Collins Stewart
08-11-10 BUY 19.04 18.18
Daniel Stewart
28-06-10 BUY 73.24 19.09 88.95 21.30

2010 2011
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 68.02 16.19 66.79 15.89
1 Month Change -4.92 -0.79 -16.75 -2.53
3 Month Change -7.19 -0.77 -20.29 -2.73


GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS -13.52% 39.47% -1.86%
DPS % % %

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA £77.93m £88.13m £109.40m
EBIT £51.64m £59.55m £65.48m
Dividend Yield % % %
Dividend Cover x x x
PER 21.71x 15.56x 15.86x
PEG -1.60f 0.39f -8.50f
Net Asset Value PS -11.52p 42.68p 51.21p

[hubshank] 08/12/2010 14:39

they also have 8 Strong buy recommendations against them

[hubshank] 08/12/2010 14:38

I use Digital Look. For 2010 they have swung from 18.51 p/s at start of yr up to 21.41p 6 months ago and are now 17.42 with a 2011 forecast of 17.29p which reached 23.62p 6 months ago.

[bleepy] 08/12/2010 11:49

With so many unpredictables surrounding the regulatory enviroment both in EU and US combined with their tax regimes and costs any forecasts for 2011 are going to be speculative imho.
Where did you get EPS of 17p from and what date.

[hubshank] 08/12/2010 09:57

Hi Bleepy, whatis the combined PRTY BWIN EPS for 2011? the site I use for that info doesn't appear to have been updated, still showing an EPS of around 17p

[srpactive] 07/12/2010 16:38

Hubshank

Lets hope so, I did say 325p for starters.

dyor

regards

active

[bleepy] 07/12/2010 15:42

With Italian cash poker and casino likely to swell the coffers of PG+Bwin early 2011 i see £4.50 - £5.00 should interest be shown.

Latest on Ried's proposals...

[hubshank] 07/12/2010 15:08

Also Srpactive, if they currently have a top end target price of £3.70 I would hope for at the very least upward of that.

[srpactive] 07/12/2010 13:56

325p for a starting point imho.

dyor

[hubshank] 07/12/2010 13:05

Should Prty get bought up by the US, at what price would they pay, as surely they would have to pay a premium. Does anyone have an opinion?

[bleepy] 07/12/2010 11:55

Thanks srpactive

PG+Bwin would be top of most wanted i'd imagine.

[srpactive] 07/12/2010 11:32

Excellent posts bleepy as always.

Re prty, I think the US operators will be rewarded
first, and purchase the eu operators in the meantime.

dyor

regards

active

[old joe1] 07/12/2010 08:41

Good to put some share price targets to the broker buy recommendations:

Date Broker name New Price Old price target New price target Broker change

24-Nov-10 Evolution Securities Buy 238.50p - 303.00p New Coverage
12-Nov-10 Shore Capital Buy 213.10p - - Upgrade
12-Nov-10 Panmure Gordon Buy 213.10p - 302.00p Restart Coverage

[bleepy] 06/12/2010 23:13

The following extract appears along the same lines as Frank's bill.Is Reid's bill actually a draft of Frank's or similar to?



The Internet Poker Act bars existing sites that service the U.S. market from obtaining a license for two years, potentially shutting out Full Tilt Poker, PokerStars, and others. This feature of the bill has drawn the ire of many in the online poker community, while land-based casinos like Harrah's and MGM have come out in favor of Reid's proposal.

[bleepy] 06/12/2010 17:20

As i understand it Reid's proposed bill is "The Prohibition of Internet Gambling, Internet Poker Regulation and UIGEA Enforcement Act" and hoping to push through during the lame duck session.There's a lot of work gone into the draft and certainly wasn't hatched "yesterday".

What of Frank's bill,HR 2267, legislation proposed by Congressman Barney Frank (D-Mass), would amend title 31, United States Code, to provide for the licensing of Internet gambling activities by the Secretary of the Treasury, to provide for consumer protections on the Internet, to enforce the tax code, and for other purposes.
If Frank's bill is separate from Reid's then what is stopping HR 2267 from passing during the lame duck session as many were expecting.
Is there a possibility of both bills being proposed,is one being used to distract attention from the other....anybody?

Where does PG stand if either of these bills are passed,still a little vague at the moment.

[srpactive] 04/12/2010 21:23

Yes I reckon the US casino's will come buying the
eu onliners before the eu operators have chance to
enter the US mkt.

AIMHO.

dyor

regards

active