party is pulling out

[jimmysnow]

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1308926&source=RNS

[ridonkulous]

Mother [censored]

[ncray]

Holy [censored]. Didn't expect it to be this [censored] fast.

[Jooka]

Fu ck, not unexpected, but fu ck.

[epiLog]

[ QUOTE ]
Mother [censored]

[/ QUOTE ]

[repulse]

I would like to go on the record as being the first to express being disappointed about this decision.

[pipedreamz]

summama bitch! i just withdrew all my money. off to poker stars for the time being.

[dibbs]

well at least i dont have to wonder til tomorrow. vomit.

I love you alcohol.

[ZBTHorton]

I knew it was coming, and it still made me sad to read it.

[Semtex]

Any chance this is just posturing on their part? Kind of like telling people they have no intention of shutting down when they know they will.

[breaktwister]

cant believe they bottled it this quickly

"the Board respects the laws of the US government" - why da fuc should they? LOL - bunch of idiots Party - just shot themselves

[Chrysiptera]

Well.. That is just spiffy.

[jimmytrick]

Cashout.

[aba20]

Wow I am getting scared.

[QuarterTon]

i cant believe this is happening.

[nhtool]

they said they were pulling out but didn't give a timetable.

my impression from the tone is that it'd be immediate after the signage (i cashed out an hour or so ago in anticipation).

it's odd in an almost conspiratal way that they're rolling over so easily and did so little to fight it in the first place.

i really hope stars doesn't bail as easily.

[Tofu_boy]

this is suck

[weewees]

does this mean all my mining for the weak is a waste? DAMMIT!

[blueodum]

Wow.

WSEX couldn't be happier right now.

[MYNAMEIZGREG]

I don't want to be skeptical, but, OP, who are you?

[HOWMANY]

[ QUOTE ]
Wow I am getting scared.

[/ QUOTE ]

Tinfoil hat time.

[DanJ.]

wow, any idea how much of parties player population is American?

[catalyst]

Dikshit is a sissy

[Tofu_boy]

thank you very much for your shi t Party VIP
didn;t even try to fight for us

[ZBTHorton]

[ QUOTE ]
I don't want to be skeptical, but, OP, who are you?

[/ QUOTE ]

You don't need to be skeptical.

I had heard all day yesterday that it was happening from insider sources. This is completely true.

[Nate tha\\\' Great]

Note the language in the first paragraph.

"On 30 September 2006, the United States Congress passed The Safe Port Act. That measure also contained certain provisions known as the ‘Unlawful Internet Gambling Enforcement Act of 2006’ that will affect the processing of payments between US customers and online gaming companies, including PartyGaming, that are publicly traded and licensed and regulated in respected jurisdictions."

There's nothing in the new US law that applies to public companies any more than private ones, or companies in the UK any more than companies in Antigua. Nevertheless, I think this is reflective of some of the reasons why Party chose to suspend operations in the US. By extension, it would be more surprising to see some of the private offshore sites (UB, PokerStars, FullTilt et. al.) suspend operations to the US immediately.

[ridonkulous]

He got the info, direct from the london stock exchange press release, this is as legit as it gets.

[Phil123]

I really can't believe they've done this. I thought they would at least put up some sort of a fight.

[Lawman007]

"The Act is expected to be signed into law by President Bush within the next two weeks. If signed into law, it will immediately make unlawful the receipt by a gambling business of proceeds or monies in connection with unlawful internet gambling. The Act does not clarify the definition of unlawful gambling. However, as the first piece of Federal legislation dealing explicitly with internet gaming, it does make clear that the US government intends to stop the flow of funds from Americans to online gaming operators through criminal sanction. The Act also asserts that, under US law, a wager must be permitted under the laws both of the customer’s place of residence and that of the operator.

After taking extensive legal advice, the Board of PartyGaming Plc has concluded that the new legislation, if signed into law, will make it practically impossible to provide US residents with access to its real money poker and other real money gaming sites."

This is just the beginning. If they came to this conclusion, the other sites probably will, as well.

[Nate tha\\\' Great]

[ QUOTE ]
wow, any idea how much of parties player population is American?

[/ QUOTE ]

75-80%.

[poisonxfree]

[ QUOTE ]
does this mean all my mining for the weak is a waste? DAMMIT!

[/ QUOTE ]

My thoughts exactly when I heard about this.

[Mike Jett]

The end.

[DWarrior]

2 weeks dudes.

Do you think any of the bigger sites will try to [censored] over the US players and just flat out refuse cashouts?

[metsandfinsfan]

un [censored] in believable

[kevin017]

i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[LesJ]

I just did a google news search and found a comparable article on Rueters.

Not good news at all

Les

[Phil123]

[ QUOTE ]
2 weeks dudes.

Do you think any of the bigger sites will try to [censored] over the US players and just flat out refuse cashouts?

[/ QUOTE ]No way, if they did that then none of their customers outside the US would trust them with their money.

[Tofu_boy]

I did cashout my $$$ from party 3days ago until yesterday I just got it.
before it oly took 2hrs back to my neteller.
stop play there and cash out your $$$ now before [censored] thing happen

[srjunkacct]

I know this has been discussed before, but does anybody else suspect that PartyPoker implemented the Monster in order to increase their rake, anticipating that this sort of thing would happen?

[monkeyman]

[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

that is one cool tv you have. shows future broadcasting?

[UATrewqaz]

Alot of the big big sites have scared CEO's, they don't want to wind up in American jails.

However there are some people out there, owners of small rooms, who are licking their chops at the prospect of becoming the next "big" guy in the online poker market and are willing to risk going to jail.

Regardless, it appears the online poker world is going to go through a big shake up.

[ZBTHorton]

[ QUOTE ]
[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

that is one cool tv you have. shows future broadcasting?

[/ QUOTE ]

He's probably in England, genius.

[iggymcfly]

What's the better option here?

1) Cash all money out of Party immediately.

2) Put in a 48-hour session immediately while it's still allowed.

I'm leaning toward the latter, but would like some advice from others.

[absoludicrous]

So when they say two weeks, that's referring to when Party will official decline all US players deposits? What about cashouts?

I have 2 weeks to clear a bonus, or would it be to the wise to take my money out now?

[LesJ]

[ QUOTE ]
I did cashout my $$$ from party 3days ago until yesterday I just got it.
before it oly took 2hrs back to my neteller.
stop play there and cash out your $$$ now before [censored] thing happen

[/ QUOTE ]

I cashed out (normal weekly cashout) earlier tonight and it was in Neteller in less than 2 hrs.

Stop the panic

Les

[anacrime]

FWIW, I just got off the phone with Pay-Pro and they assured me that everyone will be able to cash out. The Pay-Pro rep also told me that PartyGaming will be releasing their official statement on "the webpage" (I'm guessing he meant PartyPoker.com??) later "this evenining" (so where ever I called we should be hearing something from PP very quickly).

[ZBTHorton]

I will be playing every second on Party until the games dry up and suck.

They are not going to take your money. So until President Bush signs that damn bill...play play play.

[UATrewqaz]

I would cash out, I suspect a "run on the bank" as hundreds of thousnads of users will probably all be cashing out in a big glut.

Of course this just ADDS to the problem....

[Leader]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

that is one cool tv you have. shows future broadcasting?

[/ QUOTE ]

He's probably in England, genius.

[/ QUOTE ]

CNBC world ch357 on direct tv

[Lawman007]

[ QUOTE ]
Alot of the big big sites have scared CEO's, they don't want to wind up in American jails.

[/ QUOTE ]

Exactly.

[Spechel EDD]

[ QUOTE ]
So when they say two weeks, that's referring to when Party will official decline all US players deposits? What about cashouts?

I have 2 weeks to clear a bonus, or would it be to the wise to take my money out now?

[/ QUOTE ]

Yes I'm also very much interested in this and I even fired off an email about it to support. I dont know what they will say if anything at all but if anyone knows please tell me. I dont want my accounts funds lost.

[N 82 50 24]

[ QUOTE ]
[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

that is one cool tv you have. shows future broadcasting?

[/ QUOTE ]
do you have any idea what time it is in london? lol

[HOWMANY]

In all seriousness, is it time to withdraw my Party money and move on to another site, or am I safe for a while?

I honestly didn't think I would have to worry about this kind of thing for a few months.

[heater]

[ QUOTE ]
[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

that is one cool tv you have. shows future broadcasting?

[/ QUOTE ]

London Stock Exchange

[Jooka]

[ QUOTE ]
[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

that is one cool tv you have. shows future broadcasting?

[/ QUOTE ]


you're a smart one, I need to avoid you on the tables so name/site you play on?

[Triumph36]

[ QUOTE ]
I know this has been discussed before, but does anybody else suspect that PartyPoker implemented the Monster in order to increase their rake, anticipating that this sort of thing would happen?

[/ QUOTE ]

I always suspected this - seemed fairly transparent. I paid [censored] $1K to that BS.

[Falang]

anybody need bodog or FTP rakeback? lol

[crzylgs]

It's 7:46 AM in London.

Get your real-time party quotes here (http://uk.finance.yahoo.com/q?s=PRTY.L) when the market opens.

Although they may have extended-hours and that may be what previous posters are referring to. I don't know.

[pokerraja]

i just want to cry. my life sucks now. i was planning on getting this new house and now this....... /images/graemlins/confused.gif

[Sniper]

[ QUOTE ]
FWIW, I just got off the phone with Pay-Pro and they assured me that everyone will be able to cash out. The Pay-Pro rep also told me that PartyGaming will be releasing their official statement on "the webpage" (I'm guessing he meant PartyPoker.com??) later "this evenining" (so where ever I called we should be hearing something from PP very quickly).

[/ QUOTE ]

Official PartyGaming Press Release (http://www.partygaming.com/images/docs/061001_USLegislation2.pdf)

[whiteladder81]

[ QUOTE ]
FWIW, I just got off the phone with Pay-Pro and they assured me that everyone will be able to cash out. The Pay-Pro rep also told me that PartyGaming will be releasing their official statement on "the webpage" (I'm guessing he meant PartyPoker.com??) later "this evenining" (so where ever I called we should be hearing something from PP very quickly).

[/ QUOTE ]

It will be released on partygaming.com.

[martindcx1e]

So what's the deal with WSEX? Are Americans expected to be able to play there until it's not physically possible to do so anymore?

[piiop]

So....are they actually gonna let everyone cash out or just freeze accounts that dont cashout in time??

What's gonna happen to all the amateur players who don't know what's going when all their money is gone?

This sucks

[chopstick]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

that is one cool tv you have. shows future broadcasting?

[/ QUOTE ]

He's probably in England, genius.

[/ QUOTE ]

CNBC world ch357 on direct tv

[/ QUOTE ]


http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?ti=PRTY

That's the website for the London Exchange, with a direct link to the Partygaming stock details. I think that OP was referring to pre-open trading, since they don't open until 0800 GMT.

[Vavavoom]

[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

LSE isn't open yet !

I work in the city and its not open here

[Osprey]

Yes, Canada, home of legal poker, sultry women, beach culutre and suave sophisticated cuisine! Canada, where the love between two men is a beautiful thing to see! Canada, the home of the brave and the land of the free... oh wait, damnit..

[martindcx1e]

From partygaming.com...

"As a result of this development, the Board of PartyGaming has determined that if the President signs the Act into law, the Company will suspend all real money gaming business with US residents, and such suspension will continue indefinitely, subject to clarification of the interpretation and enforcement of US law and the impact on financial institutions of this and other related legislation."

Suspend all real money gaming business indefinitely???

[erastank]

Our government [censored] sucks.

That is all.

[kevin017]

i am in america. i can watch england from america (to OP).

yes i was watching directv 357, those were the numbers the guy gave. perhaps he said those were the anticipated opening numbers, but i REALLY didn't hear it.

edit: sorry for the ridicule from others objector, i guess he said anticipated, i just really didn't hear it.

[monkeyman]

[ QUOTE ]
[ QUOTE ]
i'm watching it live on tv

party opened down 40%, 888 down 33%

party gets 75% of customers from the US, 888 gets 70%

[/ QUOTE ]

LSE isn't open yet !

I work in the city and its not open here

[/ QUOTE ]

get it now geniuses? morons....

[SoCalRugger]

[ QUOTE ]
So when they say two weeks, that's referring to when Party will official decline all US players deposits? What about cashouts?

I have 2 weeks to clear a bonus, or would it be to the wise to take my money out now?

[/ QUOTE ]
since when do you need 2 weeks to clear a bonus? 8 table 1/2 6-max, and you would have cleared it in the time it took you to type that post.

[Phil123]

[ QUOTE ]
i am in america. i can watch england from america (to OP).

yes i was watching directv 357, those were the numbers the guy gave. perhaps he said those were the anticipated opening numbers, but i REALLY didn't hear it.

[/ QUOTE ]Yes they are predicted falls in the Party stock. I'm watching CNBC Europe here in the UK, Sky channel 505 for any UK viewers who want to watch.

[bluey]

what about my VIP bonus that Im suppose to get oct 14?

[martindcx1e]

[ QUOTE ]
what about my VIP bonus that Im suppose to get oct 14?

[/ QUOTE ]
lol

[Phil123]

Party gaming opening down 42% at 62p/share

[Osprey]

A good question is about which of the big poker sites is going to survive this I assume it's whoever was doing the best in acquiring players outside the USA....

[Leader]

[ QUOTE ]
Party gaming adown 42% at 62p/share

[/ QUOTE ]

I just saw -58%

[ZBTHorton]

I just saw:

Party down 57%
Sportingbet down 62%
888 down 48%

[Phil123]

Sporting Bet down 69% at 56p/share

[Phil123]

888 down 47% at 76p/share

[monkeyman]

opened at 45p down 62p from the close. i saw it live.

[bader71]

http://uk.biz.yahoo.com/061002/323/gno31.html

[Phil123]

Party still dropping now 45p/share

[orange]

[ QUOTE ]
Party still dropping now 45p/share

[/ QUOTE ]
LET THEM SINK ALL THE WAY DOWN FOR ALL I CARE [censored] PARTYPOKER JESUS CHRIST

[HumanACtor]

Now there's a silver lining in this whole mess.

[ QUOTE ]
I just saw:

Party down 57%
Sportingbet down 62%
888 down 48%

[/ QUOTE ]

[veganmav]

sadface

[DWarrior]

I wish I could short party right now /images/graemlins/frown.gif

[HumanACtor]

[ QUOTE ]
Party still dropping now 45p/share

[/ QUOTE ]

still dropping, 43

[blueodum]

First listed trade today was at 43 GBP. Closing on Friday was 107 GBP.

[DuderinoAB]

Let it drop all it will and then start buying...if they get into Asia you will make serious coin

[beachbum]

[ QUOTE ]
I wish I had shorted party right last Thursday

[/ QUOTE ]

[Eaglesfan1]

Damn it I don't want to get a job working at [censored] McDonald's

[MattSuspect]

Why didn't I short Party, we could have made $$$$. /images/graemlins/frown.gif

[monkeyman]

neteller is taking a good beating also.

[beachbum]

My friend I was talking to tonight about it had a wonderful idea. He said I should've hedged my "Long position" in poker as an income, with shorting these stocks or buying puts on them. Would've been a brilliant hedge.

[chopstick]

http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?ti=PRTY


Last 5 trades

Time/Date Price Volume Trade value Type
08:02:15 02-Oct-2006 45.00 9,606 4,322.70 Ordinary Trade

07:54:58 02-Oct-2006 43.00 500,000 215,000.00 Ordinary Trade

16:46:18 29-Sep-2006 107.00 127,344 136,258.08 Non Protected Portfolio


Sorry for the formating. Last trade before open was at 107, first two trades at 43, then 45.

[Phil123]

There is some serious volume going through there.

[Spechel EDD]

wow. im just [censored] speechless

08:06:00 02-Oct-2006 45.00 3,300,000 1,485,000.00 Ordinary Trade

dropped to 40 after this

[bluey]

40

[beachbum]

Where are you guys getting your real time quotes? Yahoo is delayed.

[heater]

http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?ti=PRTY

[Phil123]

Jesus, how low can they go?

[chopstick]

keeps falling, now at 40..


Last 5 trades

Time/Date Price Volume Trade value Type

08:06:09 02-Oct-2006 40.00 430 172.00 Ordinary Trade

08:06:09 02-Oct-2006 40.00 430,000 172,000.00 Ordinary Trade

08:06:09 02-Oct-2006 40.00 430 172.00 Cancelled

08:06:00 02-Oct-2006 45.00 3,300,000 1,485,000.00 Ordinary Trade

08:05:32 02-Oct-2006 43.00 250,000 107,500.00 Ordinary Trade


Bid Offer Volume High Low Last Close
43.25 40.00 10,831,133 45.00 40.00 107.00 on 29-Sep-2006


As at 02-Oct-2006 8:06:26
45.000 -62.00 -57.94%

[iSTRONG]

The day the world ended.

[Phil123]

Sell sell sell!

[RNiner]

Are these guys going to go bankrupt? I just put in a cashout request on Pacific, and I really need it. Son of a goddam bitch. [censored] Frist, that stupid [censored]. Makes me want to vomit, what the Reps have done to freedom all over the world. /images/graemlins/frown.gif

[HOWMANY]

[ QUOTE ]
The day the world ended.

[/ QUOTE ]

THE SKY IS FALLING

[chopstick]

[ QUOTE ]
Where are you guys getting your real time quotes? Yahoo is delayed.

[/ QUOTE ]

Mine are 15 minutes delayed as well - all the ones from the LSE website are. I think a few people are watching it realtime on financial channels.

[martindcx1e]

any publicity is good publicity?

[Lawman007]

If they do go bankrupt, they will have no one to blame but themselves. They and the other poker sites did nothing to stop this bill..............nothing.

[plj8624]

Holy [censored] neteller stock down 60%

[metsandfinsfan]

hopefully these stock plummets will get the remaining sites to tell the us govt to [censored] off

[martindcx1e]

time to make a movie about this

[pokerraja]

[ QUOTE ]
If they do go bankrupt, they will have no one to blame but themselves. They and the other poker sites did nothing to stop this bill..............nothing.

[/ QUOTE ]

im sure their hands were tied. only thing they could of did was remove Frist somehow, because as long as he was involved, we were effed.

[Anacardo]

[ QUOTE ]
[ QUOTE ]
If they do go bankrupt, they will have no one to blame but themselves. They and the other poker sites did nothing to stop this bill..............nothing.

[/ QUOTE ]

im sure their hands were tied. only thing they could of did was remove Frist somehow, because as long as he was involved, we were effed.

[/ QUOTE ]

I'm sure a competent hit man could have been purchased for a miniscule fraction of what these companies make in rake every hour.

[Hiltonian]

How safe is money in PP right now? Should I play a ton over the next few days or cash out everything right now? I am so confused by this [censored]... How likely is it that they go bankrupt? What happens if they do???? Man this is bad...

[Spechel EDD]

[ QUOTE ]
How safe is money in PP right now? Should I play a ton over the next few days or cash out everything right now? I am so confused by this [censored]... How likely is it that they go bankrupt? What happens if they do???? Man this is bad...

[/ QUOTE ]

i asked this several pages ago and i dont know what to think. I cashed out most of my roll just to be safe and left a bit in just in case i was able to still play.

[bluey]

i did the same

[Phil123]

I can't see them going bust. They can still make a profit without US players, the profit is just going to be a lot less. I can't see a company that is making profit going bust. But don't quote me on that!

[Jimmy James]

i cashed out all but 300 bucks...dont want to risk my whole roll just in case party doesnt pay out to US customers because it's "illegal."

i hated our government enough before, now they go and kill my passion, this is such bs. i need to move out of this f'cking country, it's going to the crapper. government wants to control every god damn thing we do, so much for freedom.

[Phil123]

[ QUOTE ]
i cashed out all but 300 bucks...dont want to risk my whole roll just in case party doesnt pay out to US customers because it's "illegal."

i hated our government enough before, now they go and kill my passion, this is such bs. i need to move out of this f'cking country, it's going to the crapper. government wants to control every god damn thing we do, so much for freedom.

[/ QUOTE ]
I have a spare room, £50/week and I'll through in a PC and internet access /images/graemlins/laugh.gif
Seriously though I feel your pain. The US government has really over stepped the mark here. Land of the free my backside!

[BenKT68]

[ QUOTE ]
I have a spare room, £50/week and I'll through in a PC and internet access

[/ QUOTE ]

might take you up on this...

[Tofu_boy]

Party still dropping now 45p/share


--------------------------------------------------------------------------------


LET THEM SINK ALL THE WAY DOWN FOR ALL I CARE [censored] PARTYPOKER JESUS CHRIST
I hope they will drop 80% then they will see how US customer effect them.
maybe thing will get better for us that way

[JohnnyHumongous]

I want to frigging scream

[ripped]

[ QUOTE ]
[ QUOTE ]
i cashed out all but 300 bucks...dont want to risk my whole roll just in case party doesnt pay out to US customers because it's "illegal."

i hated our government enough before, now they go and kill my passion, this is such bs. i need to move out of this f'cking country, it's going to the crapper. government wants to control every god damn thing we do, so much for freedom.

[/ QUOTE ]
I have a spare room, £50/week and I'll through in a PC and internet access /images/graemlins/laugh.gif
Seriously though I feel your pain. The US government has really over stepped the mark here. Land of the free my backside!

[/ QUOTE ]

They didnt just kill it for you guys but they screwed it for the entire world. Im in Canada and what am I supposed to do without all my American fish friends?

[SkandarAkbar]

[ QUOTE ]
Our government [censored] sucks.

That is all.

[/ QUOTE ]

[Phil123]

According to Gambling911 Poker Stars are soon to be making an announcement to say they will no longer be allowing US players:

http://www.gambling911.com/Party-Gaming-Poker-Stars-100206.html

[blueodum]

First we (Canada) had the Empire loylists, then blacks fleeing slavery, then Vietnam draft dodgers. Now, poker refugees!

You folks are all welcome here (assuming you aren't evangelicals).

[Jimmy James]

[ QUOTE ]
First we (Canada) had the Empire loylists, then blacks fleeing slavery, then Vietnam draft dodgers. Now, poker refugees!

You folks are all welcome here (assuming you aren't evangelicals).

[/ QUOTE ]

Free healthcare and I can play online poker all day...SOLD!

Seriously though, I live in Arizona, I need some place warm to go (if it gets below 50, that's very cold to me). Does Canada have any warm proviences?

[Leader]

[ QUOTE ]
[ QUOTE ]
First we (Canada) had the Empire loylists, then blacks fleeing slavery, then Vietnam draft dodgers. Now, poker refugees!

You folks are all welcome here (assuming you aren't evangelicals).

[/ QUOTE ]

Free healthcare and I can play online poker all day...SOLD!

Seriously though, I live in Arizona, I need some place warm to go (if it gets below 50, that's very cold to me). Does Canada have any warm proviences?

[/ QUOTE ]

Something wrong with Mexico? lol

[db9db9db9]

British Columbia is supposed to be heaven-on-earth. I've heard nothing but raves about both Victoria and Vancouver. Not too warm, not too cold. But there's a bad poker element likely to invade and foul things up.

[CostaRicaBill]

Boy, those poor Party support people are gonna earn that $4 an hour tommorow!

[tagtastic]

[ QUOTE ]
Does Canada have any warm proviences?

[/ QUOTE ]

For someone who thinks anything below 50 is "very cold" - definitely not.

[Jimmy James]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
First we (Canada) had the Empire loylists, then blacks fleeing slavery, then Vietnam draft dodgers. Now, poker refugees!

You folks are all welcome here (assuming you aren't evangelicals).

[/ QUOTE ]

Free healthcare and I can play online poker all day...SOLD!

Seriously though, I live in Arizona, I need some place warm to go (if it gets below 50, that's very cold to me). Does Canada have any warm proviences?

[/ QUOTE ]

Something wrong with Mexico? lol

[/ QUOTE ]

Yeah...why do you think all the Mexicans flee that country? I refuse to go anywhere that I have to carry bribe money for the police. Ya dig.

[Leader]

[ QUOTE ]
Boy, those poor Party support people are gonna earn that $4 an hour tommorow!

[/ QUOTE ]

LOL

[dibbs]

[ QUOTE ]
I want to frigging scream

[/ QUOTE ]

Fortunately I had two old CRT PC montitors and an old TV out back I have been putting off taking to the dump, smashing the [censored] out of those is nice.

I would also recommend sex/head/pills.

[ripped]

[ QUOTE ]
[ QUOTE ]
First we (Canada) had the Empire loylists, then blacks fleeing slavery, then Vietnam draft dodgers. Now, poker refugees!

You folks are all welcome here (assuming you aren't evangelicals).

[/ QUOTE ]

Free healthcare and I can play online poker all day...SOLD!

Seriously though, I live in Arizona, I need some place warm to go (if it gets below 50, that's very cold to me). Does Canada have any warm proviences?

[/ QUOTE ]

British Columbia is nice the warmest pretty much in Canada.

[kabouter]

I've got another room I can rent out here in Amsterdam, high speed internet, only $1000 a month /images/graemlins/wink.gif.
Besides that I'm also ready to cash out your funds for a 10% share /images/graemlins/laugh.gif

For real this sucks though...

[Phil123]

Party bouncing back a little, now at 53p/share.

[martindcx1e]

we should all mega-spam frist with hatemail

[jap613]

[ QUOTE ]
we should all mega-spam frist with hatemail

[/ QUOTE ]

i'm up for anything to make frists life a living hell, the more the merrier

[Spechel EDD]

remember when people were talking about how horrible delay was? yeah i bet none of you thought it could get worse

[beachbum]

I'd rather know how it'll shake out, asap. I'm glad these responses from poker rooms are happening now, rather than next month.

[~~~]

why the hell now? just started playing online,.,.,.,

[anacrime]

[ QUOTE ]
why the hell now? just started playing online,.,.,.,

[/ QUOTE ]most depressing 1st post ever...

[beachbum]

I'd rather know now rather than later so I can plan to move professionally in another direction instead of waiting around sitting on my hands.

[chicagoY]

Whatever site holds out and serves us will have one heck of a 270 days of business!

[dibbs]

[ QUOTE ]
Whatever site holds out and serves us will have one heck of a 270 days of business!

[/ QUOTE ]

They could charge twice the rake and Id still [censored] rock it assuming the games were still good.

[chicagoY]

We're looking for legal loopholes, the sites will just quit.

[FastForward7]

[ QUOTE ]
[ QUOTE ]
why the hell now? just started playing online,.,.,.,

[/ QUOTE ]most depressing 1st post ever...

[/ QUOTE ]

I just left my cushy manager position of 5 years and turned pro 2 months ago so I could go back and get my bachelors. Beat that /images/graemlins/laugh.gif /images/graemlins/mad.gif /images/graemlins/frown.gif

[tagtastic]

[ QUOTE ]
Whatever site holds out and serves us will have one heck of a 270 days of 2+2ers nitting it up!

[/ QUOTE ]

[HesseJam]

[ QUOTE ]
[ QUOTE ]
Alot of the big big sites have scared CEO's, they don't want to wind up in American jails.

[/ QUOTE ]

Exactly.

[/ QUOTE ]

Correct. Party has 2 US-American Co-founders. Their net worth is hundreds of Million $ even if Party takes that hit. It must be worth something to them that they can go back home without being arrested immediately.

[chicagoY]

I hope not but they know our government won't protect us either way.

[chicagoY]

What kills me is that it hasn't even been signed into law yet.

[~~~]

[ QUOTE ]
[ QUOTE ]
why the hell now? just started playing online,.,.,.,

[/ QUOTE ]most depressing 1st post ever...

[/ QUOTE ]

well i've to say that i'm from europe and as the things are online poker will be much less ev now since the most players are americans and hence the most fishes are americans as well.
the jury is still out though.

[thetruest]

[ QUOTE ]
[ QUOTE ]
If they do go bankrupt, they will have no one to blame but themselves. They and the other poker sites did nothing to stop this bill..............nothing.

[/ QUOTE ]

im sure their hands were tied. only thing they could of did was remove Frist somehow, because as long as he was involved, we were effed.

[/ QUOTE ]


oh STFU. You people don't get involved with politics and take your freedoms for granted and this is what happened. And now America isn't even the same country it was 7 years ago. WAKE UP.

[SneakrFreakr]

There were so many people saying "pff everyone is overreacting, nothing serious is going to happen". Now what you guys have to say this time?

[xxThe_Lebowskixx]

What are they doing? Why would they follow US laws? Why would they lock our accounts. OMFG...

[Jons]

"What kills me is that it hasn't even been signed into law yet."

Isn't this really what makes this whole thing a bit odd?
They wouldn't have had to do anything until after these 270 days, just hold out and say nothing and earn rake to the bitter end.
But they decide to tell us even before it is signed they're suspending the US.
Don't you think they'll just want to raise opinion before the sign comes on paper? Sure, the stock drops and people withdraw their funds but if the bill is rejected everything will be back to normal again within two weeks.
I think they just want to have people raise their voices before it's too late..

[xxThe_Lebowskixx]

[ QUOTE ]
There were so many people saying "pff everyone is overreacting, nothing serious is going to happen". Now what you guys have to say this time?

[/ QUOTE ]

All of you guys who said the sky was falling. Congrats. You were write. The sky has fallen. We are all [censored]. Take pleasure in the fact that you were right, and we were wrong. Once again congrats. Write it on your mother [censored] forehead. [censored] me!

[el_dusto]

[ QUOTE ]
oh STFU. You people don't get involved with politics and take your freedoms for granted and this is what happened. And now America isn't even the same country it was 7 years ago. WAKE UP.

[/ QUOTE ]

oh, i'm sorry. i've voted democrat and volunteered for every election since i turned 18. (a fat lot of good it's done me.) obv my fault that the senate majority leader gets canned because it looks bad that he's a racist, and they replace him with some christian fundie prick. obv my fault that fearmongering works on 1/6 +1 americans. so very sorry.

[thetruest]

[ QUOTE ]
[ QUOTE ]
oh STFU. You people don't get involved with politics and take your freedoms for granted and this is what happened. And now America isn't even the same country it was 7 years ago. WAKE UP.

[/ QUOTE ]

oh, i'm sorry. i've voted democrat and volunteered for every election since i turned 18. (a fat lot of good it's done me.) obv my fault that the senate majority leader gets canned because it looks bad that he's a racist, and they replace him with some christian fundie prick. obv my fault that fearmongering works on 1/6 +1 americans. so very sorry.

[/ QUOTE ]


uhh, Was i talking to you? I don't think i was talking to you.

I understand your point. As you should be able to see, I probably feel the same way.

My real point is about the state of apathy as WHO I WAS TALKING TO so showed in this country; which means you should ACTUALLY be agreeing with me instead of looking to start a fight.

[wuarhg]

So the armies of multitabling TAGs will now be gone? I wonder how many of those we have in europe.

This does suck tho, I will miss the US fishies /images/graemlins/frown.gif You guys need to fix this...

[xxThe_Lebowskixx]

Guys,

We ALL should have hedged and shorted party.

I am embarrassed for my own shortsightedness. the future looks gloomy.

choke-dee (good luck)

[xxThe_Lebowskixx]

Are they going to lock accounts when he signs it, or after it becomes a law?

[New001]

I guess now I don't have to get angry everytime I sit at a Monster table.

And doesn't it go into law as soon as it's signed?

[New001]

Also, I doubt any of us knows but whatever, any idea what will happen with Party VIP points?

[beeny]

[ QUOTE ]
Also, I doubt any of us knows but whatever, any idea what will happen with Party VIP points?

[/ QUOTE ]

If no good news comes up in the next few days I'm picking up a pair of shades with my PartyPoints.

[ohead]

Nice going guys, you can be proud over your country, god bless america..

[el_dusto]

[ QUOTE ]
I understand your point. As you should be able to see, I probably feel the same way.

[/ QUOTE ]

sorry. still a little sore over all this. i'm sure you understand.

[Eme]

come on guys, have some perspective. the worst consequence of all is no more tuff_fish videos!

[Spechel EDD]

[ QUOTE ]
come on guys, have some perspective. the worst consequence of all is no more tuff_fish videos!

[/ QUOTE ]

Tony doesnt play on party anymore.

[Eme]

[ QUOTE ]
[ QUOTE ]
come on guys, have some perspective. the worst consequence of all is no more tuff_fish videos!

[/ QUOTE ]

Tony doesnt play on party anymore.

[/ QUOTE ]

tru dat, and now he won't be playing anywhere.

[kiwi]

This makes me sad. Spechel - can I have your poker tracker if you aren't gonna be using it?

[Spechel EDD]

I'll see how this whole thing plays out first. It's only been several hours and I dont know yet what the long term income is and if any of the sites, if I have to move, will have PT supported.

[Colonel Kataffy]

[ QUOTE ]
Nice going guys, you can be proud over your country, god bless america..

[/ QUOTE ]

how is it that our congress is too christian to allow gambling on the internet, but we aren't christian enough to avoid war-mongering and torture?

[SneakrFreakr]

[ QUOTE ]
[ QUOTE ]
There were so many people saying "pff everyone is overreacting, nothing serious is going to happen". Now what you guys have to say this time?

[/ QUOTE ]

All of you guys who said the sky was falling. Congrats. You were write. The sky has fallen. We are all [censored]. Take pleasure in the fact that you were right, and we were wrong. Once again congrats. Write it on your mother [censored] forehead. [censored] me!

[/ QUOTE ]

http://img100.imageshack.us/img100/7118/asdur9.jpg

done

[tagtastic]

[ QUOTE ]
[ QUOTE ]
Nice going guys, you can be proud over your country, god bless america..

[/ QUOTE ]

how is it that our congress is too christian to allow gambling on the internet, but we aren't christian enough to avoid war-mongering and torture?

[/ QUOTE ]

warmongering & torture are some of the are the building blocks on which christianity rose to power.

[Eme]

[ QUOTE ]
[ QUOTE ]
Nice going guys, you can be proud over your country, god bless america..

[/ QUOTE ]

how is it that our congress is too christian to allow gambling on the internet, but we aren't christian enough to avoid war-mongering and torture?

[/ QUOTE ]

good lord, you rule.

[Koss]

[ QUOTE ]
"What kills me is that it hasn't even been signed into law yet."

Isn't this really what makes this whole thing a bit odd?
They wouldn't have had to do anything until after these 270 days, just hold out and say nothing and earn rake to the bitter end.
But they decide to tell us even before it is signed they're suspending the US.
Don't you think they'll just want to raise opinion before the sign comes on paper? Sure, the stock drops and people withdraw their funds but if the bill is rejected everything will be back to normal again within two weeks.
I think they just want to have people raise their voices before it's too late..

[/ QUOTE ]

All that has to happen before this becomes "Law" and Prty stops taking American transactions is for George Bush to take out his pen and sign a piece of paper. And if Bush becomes incapacitated and can't do it, then Cheney comes in and does it. I'd rather give up 10 extra days of poker than have Cheney running this Country.

What I really want to know is what happened to Congress representing the people? Does anyone under the age of 35 really give a [censored] about gambling in this Country? How many people actively want to ban online gambling? And the nerve of that [censored] to use terrorists laundering money as a way to justify this crap. Let's just outlaw [censored] money while we're at it. Otherwise the terrorists could launder it and use it to blow up a shopping mall or some [censored]. [censored]. Seriously, for this country to take change politics as usual has to change. That means no more [censored] 70 year old representatives that barely know what the [censored] internet is. [censored] IT, JUST [censored] IT.

[RunDownHouse]

[ QUOTE ]
I'm sure a competent hit man could have been purchased for a miniscule fraction of what these companies make in rake every hour.

[/ QUOTE ]
Remember, its not law until Bush signs it.

[00Snitch]

im not american, and i dont know how it all works, but it does seem really strange that somehow you arnt allowed to gambool any more because of a new law introduced with the intention of national security....

like, how can they just mash two un-realted laws togeather like this...

[nitramee]

I am not an american, put this law will effect me no the less.
For some years i have wondered why your countries leagal structure is so [censored] up.There is always an option to cut yourself shaving and sue the razor company for milions.
It is [censored] up indeed.

[Dory]

There still seem to be people with USA locations playing on party. Any idea how Party are policing this?

I just talked to one guy at the table and he hadn't heard anything about it.

It's going to be an interesting few days I think.

[mmbt0ne]

[ QUOTE ]
Sell sell sell!

[/ QUOTE ]

http://www.eng.umu.se/city/weronica/main_essay/homele2.jpg

[gila]

[ QUOTE ]
There still seem to be people with USA locations playing on party. Any idea how Party are policing this?

I just talked to one guy at the table and he hadn't heard anything about it.

It's going to be an interesting few days I think.

[/ QUOTE ]

Their "new" policy will be effective when the bill is signed by our great president Bu (ll) sh (it)

[Reef]

xpost:

so when is Bush expected to sign this thing?

[mosuavea]

[ QUOTE ]
xpost:

so when is Bush expected to sign this thing?

[/ QUOTE ]

Berge said in the sticky

[ QUOTE ]
President Bush is expected to sign this bill in the next week or two.


[/ QUOTE ]

[adios]

Bush will sign it soon, there's no doubt about that.

From Party's statment:

After taking extensive legal advice, the Board of PartyGaming Plc has concluded that the new legislation, if signed into law, will make it practically impossible to provide US residents with access to its real money poker and other real money gaming sites. As a result of this development, the Board of PartyGaming has determined that if the President signs the Act into law, the Company will suspend all real money gaming business with US residents, and such suspension will continue indefinitely, subject to clarification of the interpretation and enforcement of US law and the impact on financial institutions of this and other related legislation. Access to PartyGaming's online gaming sites for the Group's US free play customers will be unaffected. Access for all of PartyGaming’s non-US customers will also be unaffected.

It's unclear to these companies what their legal alternatives are and how it will play out. The WTO agreements the U.S. has signed on to are the best hope of continuing on with this gravy train.. The WSEX position basically reflects this.

[Colonel Kataffy]

[ QUOTE ]
im not american, and i dont know how it all works, but it does seem really strange that somehow you arnt allowed to gambool any more because of a new law introduced with the intention of national security....

like, how can they just mash two un-realted laws togeather like this...

[/ QUOTE ]

I wouldn't have a problem with it so long as they also tacked on statute prohibiting republicans and kindergarten teachers from refering to the U.S. as a free country.

[wezvidz]

I can't view PDFs here, what does the press release say?

Basically, are they going to warn us in advance of when the ban on US players will be in effect? Or is this gonna be like "suprise, no cashout for you!"

I don't want to cashout now if nothing will happen for a while. But I don't want my bank to get pwned either.. /images/graemlins/frown.gif

[Teetster]

[ QUOTE ]
Cashout.

[/ QUOTE ]

Already done. Now, where are we going to move to? What site isn't going to buckle to stupid laws?

[Teetster]

[ QUOTE ]
It's 7:46 AM in London.

Get your real-time party quotes here (http://uk.finance.yahoo.com/q?s=PRTY.L) when the market opens.

Although they may have extended-hours and that may be what previous posters are referring to. I don't know.

[/ QUOTE ]

Holy [censored]. Had you known this release was going to come out today you could have made a mint in short selling last week friday... I wonder who's getting rich from a little insider information today?

[stewartkev]

Looking at LSE news:


Mitch Garber – option exercised in respect of 1,749,999 shares

Martin Weigold – options exercised in respect of 684,448 shares

David Abdoo – options exercised in respect of 427,780 shares

That's some Party executives bought nearly 3 MILLION shares. They must have a plan so cunning you could stick a tail on it and call it a weasel.

[JuntMonkey]

[ QUOTE ]
Looking at LSE news:


Mitch Garber – option exercised in respect of 1,749,999 shares

Martin Weigold – options exercised in respect of 684,448 shares

David Abdoo – options exercised in respect of 427,780 shares

That's some Party executives bought nearly 3 MILLION shares. They must have a plan so cunning you could stick a tail on it and call it a weasel.

[/ QUOTE ]

Nice.

[Ray Of Light]

[ QUOTE ]
...They must have a plan so cunning you could stick a tail on it and call it a weasel.

[/ QUOTE ]

LOL... Blackadder right? /images/graemlins/smile.gif

[stewartkev]

You got me

[Vuron00]

You'd think the worthless WTO would finally have to do something. The American Gov't just ignored a WTO ruling and crushed a major company on the London Stock Exchange.

[HumanACtor]

I cant believe you havent been banned yet

[HumanACtor]

http://img100.imageshack.us/img100/7118/asdur9.jpg

http://www.cartracingupdate.com/Images/Photos2006/Newsphotos2006/John_Elway.jpg

[Utah]

I find this whole thing to just be a huge pain in the ass. Poker will continue.

However, I am really shocked that Party has such distain and disregard for the players/customers that made them rich. That is as disgusting as the act by congress.

[PsYcHo-ScHnAuZeR]

[ QUOTE ]


However, I am really shocked that Party has such distain and disregard for the players/customers that made them rich.

[/ QUOTE ]

Oh come on, we knew they had disdain for their customers. The shocking thing is that they are willing to give up so much profit so easily.

[jrz1972]

[ QUOTE ]
However, I am really shocked that Party has such distain and disregard for the players/customers that made them rich.

[/ QUOTE ]

Yes, I'm shocked by this too.

Of course, I was also shocked to learn that that stripper didn't really like me. /images/graemlins/frown.gif

[breaktwister]

Party and their legal advisors are complete idiots. The new legislation does not "ban internet poker". If their directors were so afraid of extradition or arrest in USA they could set-up "stooge" directors who will never set foot in USA, while they themselves take a less formal role in the company while still calling the shots.

Complete morons. Unless they of course are bluffing completely, want a big dive in prices so that the directors can buy all the shares themselves then say "hang-on we made a mistake - on-line poker is not illegal in the UK or the county where we are based so we arent doing anything wrong - we will contiune to accept customers from all over the world!".

It could happen (fingers crossed).

Either way - I dont care. Its Party's mistake and other companies will capitilise and come to the forefront. Whats Stars position?

[Dunkman]

[ QUOTE ]
Whats Stars position?

[/ QUOTE ]

Well, word in the rumor mill is that they're pulling out as well. However, I for one hope they pulled a smooth one on Party and now posture for all those new customers.

[moradh]

269 days left. Get them chips in while you can!

[curious123]

[ QUOTE ]
2-9 days left. Get them chips in while you can!

[/ QUOTE ]

[Colonel Kataffy]

[ QUOTE ]
You'd think the worthless WTO would finally have to do something. The American Gov't just ignored a WTO ruling and crushed a major company on the London Stock Exchange.

[/ QUOTE ]

the WTO supported the U.S. in its decision to discriminate against online gambling on everything except for horse racing. link (http://www.wto.int/english/tratop_e/dispu_e/285abr_e.pdf)

[DING-DONG YO]

I think another thing to consider is that online gambling probably will be a legal, regulated business at some point in the US. I would say sometime between 10-20 years from now. So, no time soon to be sure.

When and if that happens, the US will remember which entities went quietly and respected US laws and which ones gave them the finger.

For a company like party (huge and listed on one of the world's major stock exchanges), this move makes sense.

Pull out of the US market, focus on the emerging EU and world markets. When and if it becomes legal in the US, they'll be in great position to hop back in.

[IcyHotMonkey]

amazing how red hot the post got. Party is popular. I hope I have time to get my Sept. affiliate money and run.

"We have a substantial gaming business outside the US, one that is highly profitable and growing rapidly on one of the most technologically advanced platforms available. In the first half of 2006 our non-US business generated revenues of $150 million"

What a HUGE sigh of relief for them, considering their poker revenue alone was $859.1 million last year.

[JPFisher55]

Ok now I believe it. This company will not be a publicly traded one for long.

[Suigin406]

[ QUOTE ]
Our government [censored] sucks.

That is all.

[/ QUOTE ]

[censored] frist

[RunDownHouse]

[ QUOTE ]
[ QUOTE ]
I'm sure a competent hit man could have been purchased for a miniscule fraction of what these companies make in rake every hour.

[/ QUOTE ]
Remember, its not law until Bush signs it.

[/ QUOTE ]
We're all just waiting for the crazed 20-year old internet pro to come out of the woodwork.

[Chrisman886]

[ QUOTE ]
Looking at LSE news:


Mitch Garber – option exercised in respect of 1,749,999 shares

Martin Weigold – options exercised in respect of 684,448 shares

David Abdoo – options exercised in respect of 427,780 shares

That's some Party executives bought nearly 3 MILLION shares. They must have a plan so cunning you could stick a tail on it and call it a weasel.

[/ QUOTE ]

Hold on a second. You don't know what kind of options those are. They may have been executable at 1p/sh or some crazy price. The problem is, we don't know based on that information you have provided. That information may be elsewhere however. Alot of the time employee stock options are virtually free money no matter where the share price is. Unless you see a purchase in the open market I wouldn't get too excited yet.

[pokerstudAA]

[ QUOTE ]
Mother [censored]

[/ QUOTE ]

[Copernicus]

[ QUOTE ]
Looking at LSE news:


Mitch Garber – option exercised in respect of 1,749,999 shares

Martin Weigold – options exercised in respect of 684,448 shares

David Abdoo – options exercised in respect of 427,780 shares

That's some Party executives bought nearly 3 MILLION shares. They must have a plan so cunning you could stick a tail on it and call it a weasel.

[/ QUOTE ]

It depends on the strike price for the options. If they got them early on when the stock was at 20 for example, they are just buying them to resell as soon as they can flip them

[IcyHotMonkey]

"13. Price per share or value of transaction



Mitch Garber - Nil

Martin Weigold - Nil

David Abdoo – Nil"

[Mr_Donktastic]

Is there any chance that this will actually be good for online poker in the medium term?

I mean a lot of former party players are going to be shopping around for new sites to play at and competition to get those players will be huge. So couldn't this result in sites like WSEX or Paradise or whatever actually getting better (better software, bonuses, support)? And if all of these other sites get better who the f*ck neds party anyway? I say screw em - its about time for a new indistry leader anyway...

And what about if and when online poker is legalized and regulated in the states and party comes back in - then they'll have to adjust to the new market and won't have their stranglehold anymore.

Just some thoughts...of course this all still sucks - down with Bush, Frist is a moron, yada yada yada - but is there any silver lining in this somewhere?

[dlv54]

demand and supply: think new sites/rooms (or existing ones like bodog) will grow balls and take american customers clever enough to get foreign accts??

[IcyHotMonkey]

Oh crap. I forgot about all my partypoker points. Time to spend spend spend.

[breaktwister]

[ QUOTE ]


For a company like party (huge and listed on one of the world's major stock exchanges), this move makes sense.

Pull out of the US market, focus on the emerging EU and world markets. When and if it becomes legal in the US, they'll be in great position to hop back in.

[/ QUOTE ]

Sorry dink, that is absolute nonsense. If Party forgoes its US customer base then it is finished. Another site will take US customers and then the rest of the world will play there also because of the traffic mass. Party is finished. Who wants to step up the mark?

The only risk to any poker company is having your directors arrested and charged if visiting US soil. I think maximum sentence is 2 years. JUST DONT GO TO USA!

It is crazy - this new legislation is directed towards US-based banks and cc companies. Many state laws outlawing internet gambling years ago but the US authorities couldnt do anything about it.

Why Party have done this is baffling and a complete over-reaction.

[DING-DONG YO]

[ QUOTE ]
[ QUOTE ]


For a company like party (huge and listed on one of the world's major stock exchanges), this move makes sense.

Pull out of the US market, focus on the emerging EU and world markets. When and if it becomes legal in the US, they'll be in great position to hop back in.

[/ QUOTE ]

Sorry dink, that is absolute nonsense. If Party forgoes its US customer base then it is finished. Another site will take US customers and then the rest of the world will play there also because of the traffic mass. Party is finished. Who wants to step up the mark?

The only risk to any poker company is having your directors arrested and charged if visiting US soil. I think maximum sentence is 2 years. JUST DONT GO TO USA!

It is crazy - this new legislation is directed towards US-based banks and cc companies. Many state laws outlawing internet gambling years ago but the US authorities couldnt do anything about it.

Why Party have done this is baffling and a complete over-reaction.

[/ QUOTE ]

It really isn't. A huge publicly traded company like party gaming can't just thumb it's nose at the laws of a huge country like the US. Sorry.

This is a huge hit for them, to be sure. But they're not finished.

[NajdorfDefense]

The bill banned credit card companies from dealing with online poker sites, that's it. A toothless enforcement bill will make no difference unless Party and crew decide they want to avoid the US, but if they do, it won't be because this bill forced them to do so.

[DING-DONG YO]

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4pAy63wKkxA&refer=home


``The board respects the laws of the U.S. government, and will continue to analyze their applicability, but also continues to believe that a regulatory framework for online gaming, including poker and casino gaming, is the only sustainable long- term solution,''

Flame me as much as you like, but I think party would rather bide their time and wait to re-enter the market until it is regulated in the US and focus their efforts in other markets in the meantime.

[Cactus Jack]

Something I haven't heard anyone address--

What happens when Joe Carsalesman logs on Thursday afternoon and finds his account closed? Or Suzy Homemaker? Or John Q. Public who plays a couple times a week and doesn't frequent 2+2? How are they going to react?

These are the people who fund the game. Without fresh infusions of cash, the house will eventually rake off all the chips, after we've passed them around amongst ourselves.

The people who play for entertainment purposes aren't going to jump through hoops to play. They're going to find out it's "illegal" to play poker online, and find something else to do. To them, it's no big deal.

The Party's over. It is a matter of time before they turn out the lights and we're pushed out the door. No matter what, the good days are past. Not a damn thing we can do, but go on as we did ten years ago. It was good while it lasted, but to think that we can somehow stop the inevitable is screaming into the wind.

Black Monday.

CJ

[Mr.K]

[ QUOTE ]
The bill banned credit card companies from dealing with online poker sites, that's it. A toothless enforcement bill will make no difference unless Party and crew decide they want to avoid the US, but if they do, it won't be because this bill forced them to do so.

[/ QUOTE ]

Wrong. YSSCKY.

[breaktwister]

[ QUOTE ]
A huge publicly traded company like party gaming can't just thumb it's nose at the laws of a huge country like the US.

[/ QUOTE ]

Sorry, but you are wrong. The size of the country has nothing to do with it from a legal point of view.

You say that it can't ignore US laws? Why exactly not? US (aside from what it thinks) does not rule the world and has absolutely no jurisdiction over a non-US based and listed company.

[breaktwister]

Unfortunately I have to agree with Castus Jack. A sad day for poker enthusiasts.

On a brighter note however, I think that this will calm down in the space of a year or two at most and US (casual) players will be online again in force. Maybe due to new regulation or maybe just because there will always be some online poker sites ready to cater to US players and it may become easier to deposit etc after some time passes?

Speculation I know, but I just don't think that this is the end.

[Canard]

[ QUOTE ]


You say that it can't ignore US laws? Why exactly not? US (aside from what it thinks) does not rule the world and has absolutely no jurisdiction over a non-US based and listed company.

[/ QUOTE ]

Tell that to the three Natwest executives extradited from the UK to the US recently for a crime alledgedly committed in the UK against a UK bank, without any evidence being presented against them.

[NapoleonDolemite]

Party is stupid. This is nothing new. There was a time though, when Paradise Poker was BY FAR the industry leader. What this means is that the death of Party Poker is in NO WAY the death of online poker. It just means the other sites are going to get higher market share and we will probably get higher rakeback from them anyway.

PartyPoker must be run by morons. They have nothing to fear from this legislation as long as they don't come to the States. They must hate money. This is probbaly the best news imagineable for poker players.

[TimM]

[ QUOTE ]
If no good news comes up in the next few days I'm picking up a pair of shades with my PartyPoints.

[/ QUOTE ]

Yeah good luck with that, I've been waiting since July for mine.

[RYL]

Online gaming in crisis over U.S. ban By Pete Harrison
Mon Oct 2, 8:12 AM ET



LONDON (Reuters) - Online gambling firms faced their biggest-ever crisis on Monday after U.S. Congress passed legislation to end Internet gaming there, threatening jobs and wiping 3.5 billion pounds ($6.5 billion) off company values.

ADVERTISEMENT

Britain's PartyGaming Plc, operator of leading Internet poker site PartyPoker.com, and rivals Sportingbet and 888 Plc said they would likely pull out of the United States, their biggest source of revenue.

"This development is a significant setback for our company, our shareholders, our players and our industry," PartyGaming Chief Executive Mitch Garber said.

The House of Representatives and Senate unexpectedly approved a bill early on Saturday that would make it illegal for banks and credit-card companies to make payments to online gambling sites.

The measure was sent to President George W. Bush to sign into law, which most analysts see as a certainty.

"We believe that this will have a very material impact on the long-term prospects of online gambling, and in particular poker," said analyst Julian Easthope at UBS. "This will lead to a rapid decline in the use of online poker sites."

PartyGaming generates about 78 percent of its revenue from the United States, while Sportingbet gets about 62 percent there.

CRACKDOWN

Shares in PartyGaming, which rakes in nearly $4 million a day from its 19 million customers, fell 57 percent by 1155 GMT.

Sportingbet, which owns sportsbook.com and ParadisePoker.com, lost 60 percent, 888 was down 33 percent and Austria's bwin.com fell 24 percent.

Bwin could be pushed to the brink, having paid heavily for Swedish online poker site Ongame earlier this year to gain access to the U.S. market, said Leopold Salcher, an analyst at Austria's RCB. "This could break their neck," he said.

Online gaming exploded in 2005 with a string of high-profile company flotations in London, which has become the industry's corporate center.

The bulk of revenue has always come from U.S. players, but the firms were located in offshore jurisdictions like Costa Rica and Antigua for fear of prosecution in the United States, where the legal status of online gaming and betting was uncertain.

Shares in Sportingbet and BETonSPORTS had already been hammered after recent arrests of senior executives on charges of illegal gambling in individual U.S. states, but investors remained hopeful online betting and gaming would not be completely banned at a federal level.

Meanwhile, big American corporations like Las Vegas-based Harrah's Entertainment Inc. were forced to sit on the sidelines as gaming money streamed out of the country.

PartyGaming said in a statement, "If the President signs the act into law, the company will suspend all real money gaming business with U.S. residents."

"Any such suspension would also result in the group's financial performance falling significantly short of consensus forecasts for 2006 and 2007," it added.

MERGER SCRAPPED

Stephen Whittaker, joint chief investment officer at Britain's New Star Asset Management, said the likely ban could be challenged.

"This represents protectionism, and the WTO have said you can't do that," said Whittaker, whose portfolio includes about 2 percent of online gaming stocks. "Overall, we'll probably remain with most of our holdings."

"We'll probably reduce one, maybe two," he added. "We want to let the dust settle a bit -- it will take a few days."

Sportingbet said a ban would hit trading and it would scrap a planned merger with World Gaming as a result.

888 Plc said the move would hit its results, as did gaming software provider Playtech, whose shares fell 42 percent.

But Paul Leyland at Arbuthnot Securities said Playtech was relatively well positioned. "The only company for which you could categorically say that redeployment is easy is Playtech," he said. "But for the others it's much more difficult."

A ban would also hit payment processors such as Neteller Plc and Optimal Group's FireOne subsidiary.

(Additional reporting by Laurence Fletcher in London and Alexandra Schwarz in Vienna)

[OHFreak]

BWin = Ongame = Pokerroom and skins, correct???

[bobbyi]

[ QUOTE ]
A huge publicly traded company like party gaming can't just thumb it's nose at the laws of a huge country like the US.

[/ QUOTE ]
Isn't that what the online sportsbooks have been doing since their inception?

[DMoogle]

I think you guys need to read the article a little more carefully.
[ QUOTE ]
After taking extensive legal advice, the Board of PartyGaming Plc has concluded that the new legislation, if signed into law, will make it practically impossible to provide US residents with access to its real money poker and other real money gaming sites. As a result of this development, the Board of PartyGaming has determined that if the President signs the Act into law, the Company will suspend all real money gaming business with US residents, and such suspension will continue indefinitely, subject to clarification of the interpretation and enforcement of US law and the impact on financial institutions of this and other related legislation.

[/ QUOTE ]
This means that they're pulling out until they know exactly what they can do. It does not mean they have given up, as many of you seem to think.

Still a bitch though.

[Supwithbates]

i think this "poker banned" news is fake, i just got on my .01/.02 table fine

[bobbyi]

... and when I cash out it tells me "Support your right to play Poker! (US players only)" and encourages me to join the PPA. Thanks Party.

[breaktwister]

Canard - the Natwest three is a totally different proposition. There is an excellent thread on here in relation to extradition which explains the differences - mainly to extradite the Defendant/s must have committed a "crime" which would be punishable in law in both countries - which is clearly not the case with online poker sites which are legal in the UK.

Why do you think US gov had to wait for SportingBet and BetonSports directors to enter US soil to arrest??

[gila]

[ QUOTE ]
i think this "poker banned" news is fake, i just got on my .01/.02 table fine

[/ QUOTE ]

lol

[betgo]

Party and Pacific are two of the worst run and sleaziest sites. I certainly don't mind losing those two.

[Phoenix1010]

How hard is it to change your address to some other country on Party? Do you have to provide proof of residence? Or are they going to just not accept play from computers with IP addresses from the US? Isn't there a way to work around both of those?

I don't even play Party but I'm curious.

[wezvidz]

[ QUOTE ]

PartyGaming said in a statement, "If the President signs the act into law, the company will suspend all real money gaming business with U.S. residents."

[/ QUOTE ]

I just wish we could get a statement from Party clarifying this: the day the President signs, no further transactions (cashouts)? Or after he signs they'll announce when the ban on US players will go into effect?

I want to play on there as long as possible but don't want my monies confiscated.

[Autocratic]

[ QUOTE ]
[ QUOTE ]

PartyGaming said in a statement, "If the President signs the act into law, the company will suspend all real money gaming business with U.S. residents."

[/ QUOTE ]

I just wish we could get a statement from Party clarifying this: the day the President signs, no further transactions (cashouts)? Or after he signs they'll announce when the ban on US players will go into effect?

I want to play on there as long as possible but don't want my monies confiscated.

[/ QUOTE ]

Exactly, and I sure as [censored] don't trust Party to make this clearer. I feel bad for the thousands of players who aren't as up to date on this as we are.

[blueodum]

Does Canada have any warm proviences?

Vancouver Island rarely has snow - that's the best I can do for you.

[betgo]

[ QUOTE ]
[ QUOTE ]

PartyGaming said in a statement, "If the President signs the act into law, the company will suspend all real money gaming business with U.S. residents."

[/ QUOTE ]

I just wish we could get a statement from Party clarifying this: the day the President signs, no further transactions (cashouts)? Or after he signs they'll announce when the ban on US players will go into effect?

I want to play on there as long as possible but don't want my monies confiscated.

[/ QUOTE ]
I would get my money out of Party ASAP. However, it is very unlikely they will confiscate the money. That would kill their nonUS business and maybe subject them to criminal penalties. Dutch Boyd did it, but I don't think anyone else will have the nerve to try it.

[Utah]

[ QUOTE ]
How hard is it to change your address to some other country on Party? Do you have to provide proof of residence? Or are they going to just not accept play from computers with IP addresses from the US? Isn't there a way to work around both of those?

I don't even play Party but I'm curious.

[/ QUOTE ]I already set up an offshore account today + IP masking. Took 30 seconds. However, I have a lot of friends in Eastern Europe that I trust. As long as party still has games I will still be able to play.

[oreopimp]

[ QUOTE ]
[ QUOTE ]
How hard is it to change your address to some other country on Party? Do you have to provide proof of residence? Or are they going to just not accept play from computers with IP addresses from the US? Isn't there a way to work around both of those?

I don't even play Party but I'm curious.

[/ QUOTE ]I already set up an offshore account today + IP masking. Took 30 seconds. However, I have a lot of friends in Eastern Europe that I trust. As long as party still has games I will still be able to play.

[/ QUOTE ]

how did you do this

[CORed]

Looks like it's time for me to get my last $30 out of Party.

[By-Tor]

[ QUOTE ]
[ QUOTE ]
How hard is it to change your address to some other country on Party? Do you have to provide proof of residence? Or are they going to just not accept play from computers with IP addresses from the US? Isn't there a way to work around both of those?

I don't even play Party but I'm curious.

[/ QUOTE ]I already set up an offshore account today + IP masking. Took 30 seconds. However, I have a lot of friends in Eastern Europe that I trust. As long as party still has games I will still be able to play.

[/ QUOTE ]

Against who idiot?

[semsorok]

question: If I have money at party, is now the time to cash it out... or do I have time?