party is pulling out

[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]

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

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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]

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

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Yes, I'm shocked by this too.

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

[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]

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Whats Stars position?

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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]

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

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[Colonel Kataffy]

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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.

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the WTO supported the U.S. in its decision to discriminate against online gambling on everything except for horse racing. link

[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.