PokerStars expected to pull out as well

[fnord_too]

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Nate,

"I'm not sure that PartyPoker and 888 did themselves justice my making a decision in essentially 24 hours."

It's silly to think that PartyPoker, a multibillion dollar public corporation, just made a hasty off-the-cuff decision here. I would wager a large amount that they have had a number of top-caliber lawyers and strategists working out the relative merits of various scenarios that might take place and the actions Party could take. It is very likely that they acted this fast simply because they had already worked out exactly what they felt was their best move in this specific scenario.

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El D,

My only question is if they spent all the time and resources to develop contigency plans, meaning they obviously considered the legislation a real risk, why did they not lobby against the legislation? Also, I was under the oppinion that the exact language was not public for long enough to thouroughly analyze it before their decision. I am not saying they did not think things through, I am reasonably sure they did, but I am still left scratching my head. Oh, and bigger businessess have made hasty, ill conceived decisions (e.g. AOL/Time Warner from the TW side), so it could just be a knee jerk reaction.

About the best thought I have read on any of this was KKF's "Why didn't I hedge and short party?" The posts about the possibility of the legislation have been up for at least weeks. (Actaully I am not sure if US citizens can deal in party stock legally, so maybe it wasn't such a great thought).