Party shares

[breaktwister]

Stock market opening soon in London - PartyShares are going to plummet. At the end of today Ill see what price they are - if low enough Ill buy 'em all!

This pathetic piece of legislation has no mission of defeating a $12Billion a year industry.

[IceColdAces]

Are there any online brokerage sites that I can fund instantly from my bank account and start to trade (short) Party Poker and some of the other gaming stocks? I'm sure they are going to open much lower, but I would anticipate there could be some money to be made in these stocks today if you shorted them at the start of trading.

[mntbikr15]

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Are there any online brokerage sites that I can fund instantly from my bank account and start to trade (short) Party Poker and some of the other gaming stocks? I'm sure they are going to open much lower, but I would anticipate there could be some money to be made in these stocks today if you shorted them at the start of trading.

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iirc US citizens cant trade party stock

[IceColdAces]

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Are there any online brokerage sites that I can fund instantly from my bank account and start to trade (short) Party Poker and some of the other gaming stocks? I'm sure they are going to open much lower, but I would anticipate there could be some money to be made in these stocks today if you shorted them at the start of trading.

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iirc US citizens cant trade party stock

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You sure about this? We can't trade any stocks on the London Stock Exchange??

[DrewOnTilt]

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Are there any online brokerage sites that I can fund instantly from my bank account and start to trade (short) Party Poker and some of the other gaming stocks? I'm sure they are going to open much lower, but I would anticipate there could be some money to be made in these stocks today if you shorted them at the start of trading.

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iirc US citizens cant trade party stock

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Party is traded on the Nasdaq pink sheets, ticker symbol PYGMF.PK It's not the exact same thing as directly owning Party stock, but is priced to mirror the movement of PRTY on the FTSE.

Most brokers will perform this transaction for you, though in many cases (such as with Scottrade) you have to place the order by phone with a trading specialist.

[Vern]

Not directly, most US financial institutions won't trade in these, even mutual funds for foreign stocks. You could get an account with a UK brokerage house and trade all you want. It is not illegal for a USA citizen to own Partygaming stock.

Edit: Except what Drew said, as an indirect bet on the stock price w/o actually owning equity.

[mntbikr15]

No, not sure. But thought I heard it somewhere

[cowboy.up]

I could be off a few miles here - but I honestly don't think Party will take a huge dive. A few points is to be expected but I believe that most rational, informed investors should have seen the legislation coming a few miles away. I also believe that the losses can be minimized by quick statements of action from the gaming sites (which I hope to see at the open of the day in London - approx. one hour from now).

Of course like all things in dealing with this bill - only time will tell.

[monkeyman]

i use hsbc to trade on the LSE from Canada. i am getting ready to make some money (hopefully), there should be some pretty nice swings in the price today.

[monkeyman]

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Not directly, most US financial institutions won't trade in these, even mutual funds for foreign stocks. You could get an account with a UK brokerage house and trade all you want. It is not illegal for a USA citizen to own Partygaming stock.


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i see a few american institutions listed.

http://partygaming.com/images/docs/060919_HoldingsinCompany.pdf

they might let you do it, but then again, who knows.

[IceColdAces]

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I could be off a few miles here - but I honestly don't think Party will take a huge dive. A few points is to be expected but I believe that most rational, informed investors should have seen the legislation coming a few miles away. I also believe that the losses can be minimized by quick statements of action from the gaming sites (which I hope to see at the open of the day in London - approx. one hour from now).

Of course like all things in dealing with this bill - only time will tell.

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No chance. I bet PP's stock closes at least 25% down, and I wouldn't be shocked if it lost at much as 35-40%. I hope I'm wrong though. /images/graemlins/ooo.gif

[MannyIsGod]

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I could be off a few miles here - but I honestly don't think Party will take a huge dive. A few points is to be expected but I believe that most rational, informed investors should have seen the legislation coming a few miles away. I also believe that the losses can be minimized by quick statements of action from the gaming sites (which I hope to see at the open of the day in London - approx. one hour from now).

Of course like all things in dealing with this bill - only time will tell.

[/ QUOTE ]

I would be largely suprised if it didn't lose quite a substantial portion of its share price, maybe more than half. We're talking about 70% or more of its customer base being in severe jepoardy, and when shareholders hear that they usually dump the stock.

Even if they feel there is value in the stock, I'd dump it first thing in the morning and look to pick it up at a lower price later in the day.

[Vern]

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Not directly, most US financial institutions won't trade in these, even mutual funds for foreign stocks. You could get an account with a UK brokerage house and trade all you want. It is not illegal for a USA citizen to own Partygaming stock.


[/ QUOTE ]

i see a few american institutions listed.

http://partygaming.com/images/docs/060919_HoldingsinCompany.pdf

they might let you do it, but then again, who knows.

[/ QUOTE ]
I am a lazy long term investor, I prefer index driven mutual funds. But when I looked into it near thei IPO, the two brokerages I currently have accounts with both said they would not touch a transcation with an online gambling stock directly, but refered me to several UK brokerages who I could easily set up an account with. It was just too much hassle and I dobuted my ability to have an edge buying at the IPO.

[ridonkulous]

What time does the stock exchange open?

[cowboy.up]

8am London time - thus 40 minutes.

[Sniper]

Link to thread in the finance forum (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=7488615)

[ridonkulous]

ty

[I_C_ALL]

I know you can. May be extra exchange fees, but if on the pinkies, same [censored]

[Phil123]

[ QUOTE ]
8am London time - thus 40 minutes.

[/ QUOTE ]We are sill on British summer time so it's an hour and 37mins as of now.

[blueodum]

Let's bet on what the low point for the stock will be today.

It ended on Friday at 107 GBP. I'm going to say it goes down to 62 GBP before a probable rebound. Trading might even be suspended.

It dropped about 30% after the sportsbetting arrests a few months ago, and that was only tangetially related to Party. The events of this weekend are going to hit it hard.

[sandycove]

[ QUOTE ]
The Times October 02, 2006 (UK)


Gambling online faces collapse in US after Senate ban

By Dominic Walsh



AMERICA’s $6 billion (£3.2 billion) internet gambling industry is facing meltdown after the US Senate pushed through a Bill at the weekend outlawing the processing of bets by banks and credit companies.


The surprise move, which is expected to spark a massive share sell-off, will prompt London-listed 888 Holdings to announce this morning that it is halting its entire US-facing operation, accounting for half its business.

PartyGaming, the world’s biggest internet gambling company, said last night that it was “still evaluating the situation”, although industry sources believe it will also announce a cessation of its services to American punters.



However Sportingbet, which was celebrating on Friday after a New York court released its former chairman, who had been facing gambling charges, will tell investors that it is still digesting the implications of the Bill.


One senior internet gambling executive said last night: “This is the worst form of protectionism I have ever seen. This will drive internet gambling underground and consumer protection will go out of the window. The religious groups that lobbied for this may live to regret it.”


The Unlawful Internet Gambling Enforcement Bill needs only to be signed by President Bush to become law. Legal sources predict that he will do so in the next two weeks, possibly as early as Wednesday.


The passing of the Bill in the early hours of Saturday surprised the industry. Although it had successfully negotiated Congress, its passage through the Senate looked likely to be blocked through lack of parliamentary time...


The ban may drive some small companies out of business, although big operators such as 888 and PartyGaming will highlight the strong prospects of their non-US business.


However, 888 is expected to warn its shareholders in a Stock Exchange statement this morning that its withdrawal from America will force it to pare back its cost base, resulting in a significant hit against this year’s profits.


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[dnh83]

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PartyGaming, the world’s biggest internet gambling company, said last night that it was “still evaluating the situation”, although industry sources believe it will also announce a cessation of its services to American punters.




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So if I'm reading this correctly, Jeff Feagles and Chris Gardocki won't be able to play at Party but everyone else can?

[MikeyPatriot]

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PartyGaming, the world’s biggest internet gambling company, said last night that it was “still evaluating the situation”, although industry sources believe it will also announce a cessation of its services to American punters.






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So if I'm reading this correctly, Jeff Feagles and Chris Gardocki won't be able to play at Party but everyone else can?

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Ni han sir.