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Old 10-08-2006, 09:17 AM
Kamakize Kamakize is offline
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Join Date: Oct 2006
Posts: 34
Default Re: Odds of Party collapsing on Saturday?

This is intresting.. as reported in barrons and other parts of this forum:

MORE TROUBLE COULD LIE ahead for PartyGaming. Gamblers anxious to clear out their accounts could cause a run on the bank. For according to the company's June 30, 2006, balance sheet, PartyGaming owes its clients $192.6 million in liabilities and prize pools, while having only $132.9 million in cash and cash equivalents to meet that obligation. And those cash holdings are likely to have fallen sharply, because of $130.5 million of cash spent on an acquisition in August. Meanwhile, The Financial Times reported the cancellation of a $500 million bank credit line that the company had made some use of. PartyGaming recently cancelled a $115 million special dividend to shore up its cash.

They may go belly up if every american cashes out.
but again if you have less than $50 you are SOL.
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