party is pulling out - Page 23

breaktwister · #**221** 10-02-2006, 10:31 AM

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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.

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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 · #**222** 10-02-2006, 10:36 AM

[ 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.

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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 · #**223** 10-02-2006, 10:50 AM

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 · #**224** 10-02-2006, 11:00 AM

http://www.bloomberg.com/apps/news?p...amp;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 · #**225** 10-02-2006, 11:03 AM

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 · #**226** 10-02-2006, 11:03 AM

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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.

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Wrong. YSSCKY.

breaktwister · #**227** 10-02-2006, 11:10 AM

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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.

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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 · #**228** 10-02-2006, 11:16 AM

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 · #**229** 10-02-2006, 11:26 AM

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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.

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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 · #**230** 10-02-2006, 11:30 AM

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.