World Poker Tour Supports Bill!

[olivert]

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Regardless of whether WPTE supported the U.S. online gaming ban or not, the passage of the new law has accomplished what WPTE has wanted: WPTE's online gaming rivals, notably PartyGaming, just had 75% of its "air supply" "choked off" by the U.S. Congress.

The common tactic used by all Bill Gates-wannabes who want to achieve TOTAL GLOBAL DOMINATION in their respective industries is "choking off your opponents' air supply".


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Olivert, what you're missing here is that Party has done this to themselves. The only reasonable explaination for this would be their own long-term interests. Once Bush signs the bill, allowing US players won't be any more or less legal than it was 2 weeks ago. The void left by Party (and the revenues that go with it) will be filled in a very short time period. The real question for the US players is what the legistlation will do to Neteller/FirePay or their replacements. If depositing is relatively easy and games are offered the demand is still there.

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I expect the US Federal Reserve Banking system, after consultation with the Treasury Department and the Federal Trade Commission, to flag the likes of Neteller and Firepay as entities that faciliate transactions with offshore online gaming companies.

The new law will allow the Federal Reserve to block all outbound transactions between banks/stock brokerages in the U.S. and the likes of Neteller and Firepay once he Federal Reserve has flagged Neteller and Firepay for outbound transaction blocking.

Furthermore, Neteller and Firepay are public companies listed in the U.K. The U.K. government has been one of the strongest allies of the U.S. government in recent years. Neteller and Firepay executives, employees, and shareholders have to protect themselves from potential U.S. Federal prosecution.

[Gomez]

Do you recommend buying their stock?

[olivert]

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Do you recommend buying their stock?

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The Security and Exchange Commission will NOT allow me to answer that question, as I am not a registered investment advisor.

[mhcmarty]

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Regardless of whether WPTE supported the U.S. online gaming ban or not, the passage of the new law has accomplished what WPTE has wanted: WPTE's online gaming rivals, notably PartyGaming, just had 75% of its "air supply" "choked off" by the U.S. Congress.

The common tactic used by all Bill Gates-wannabes who want to achieve TOTAL GLOBAL DOMINATION in their respective industries is "choking off your opponents' air supply".


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Olivert, what you're missing here is that Party has done this to themselves. The only reasonable explaination for this would be their own long-term interests. Once Bush signs the bill, allowing US players won't be any more or less legal than it was 2 weeks ago. The void left by Party (and the revenues that go with it) will be filled in a very short time period. The real question for the US players is what the legistlation will do to Neteller/FirePay or their replacements. If depositing is relatively easy and games are offered the demand is still there.

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I expect the US Federal Reserve Banking system, after consultation with the Treasury Department and the Federal Trade Commission, to flag the likes of Neteller and Firepay as entities that faciliate transactions with offshore online gaming companies.

The new law will allow the Federal Reserve to block all outbound transactions between banks/stock brokerages in the U.S. and the likes of Neteller and Firepay once he Federal Reserve has flagged Neteller and Firepay for outbound transaction blocking.

Furthermore, Neteller and Firepay are public companies listed in the U.K. The U.K. government has been one of the strongest allies of the U.S. government in recent years. Neteller and Firepay executives, employees, and shareholders have to protect themselves from potential U.S. Federal prosecution.

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Now this is pure supposition on your part. We shold know more with in the next 270 days.

Even in that case there could be replacments to Neteller/Firepay. For example the question might become how easy a site could make it for me to open an account with a foreign bank and then transfer funds from there to Neteller/Firepay.

There's no argueing that the demand from the US players exists. Ease of use will be one of the main factors that determines continued demand.

[jalexand42]

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Do you recommend buying their stock?

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The Security and Exchange Commission will NOT allow me to answer that question, as I am not a registered investment advisor.

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LOL. You are hilarious.

[ricdaman]

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...Adam Pliska, General Counsel of WPTE. "This law clarifies the rules and makes it possible for everyone to move forward on an even footing."

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I think this pretty much says it all. They see this bill as allowing them to grow their business. Dog eat Dog world. Except one problem....

The poker community is a pretty tight group, and the PPA (nevermind the views of our 2+2 hosts for the moment) is making the poker community an even tighter group. We have the power to boycot the WPT. Now... us little unkown online players can't do much, but the pros can. How do you think Daniel Negraneu is going to feel about playing in a tournament that supports the bill he hates so much?

[FoxwoodsFiend]

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Do you recommend buying their stock?

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The Security and Exchange Commission will NOT allow me to answer that question, as I am not a registered investment advisor.

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So I'm concerned here: I have actually discussed whether to buy certain stocks with my father, and he is not a registered investment advisor. What kind of jail time is he looking at?

[stormy455]

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How do you think Daniel Negraneu is going to feel about playing in a tournament that supports the bill he hates so much?

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If he thinks he can make a buck, he'll be there. I think you said it best "it's a dog eat dog world".

[StrayBullet]

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I sound like a broken record .....

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I know it's in there somewhere.....D R I N K F'rs

[olivert]

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Do you recommend buying their stock?

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The Security and Exchange Commission will NOT allow me to answer that question, as I am not a registered investment advisor.

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So I'm concerned here: I have actually discussed whether to buy certain stocks with my father, and he is not a registered investment advisor. What kind of jail time is he looking at?

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I am a member of the media, and I specifically write about the entertainment BUSINESS.

Everything I write regarding the BUSINESS of entertainment is monitored by the Security and Exchange Commission (SEC).

Because I am not a registered investment advisor, I cannot make specific stock recommendations.

I can only say that as an individual investor myself, WPTE is a much more interesting company to me as an individual investor now at $3.50 a share ($70 million market cap, with $40 million in cash on its books, plus its political connections in Macau and China) than when it was at $30 a share ($600 million market cap).

For the record: I have never owned, traded, or shorted any WPTE stock or any derivative financial instrument (options, futures, etc.) that is based on the value of WPTE stock.

That will be all I can say without getting into trouble with the SEC, which obvious holds me to a much higher standard than what the standard that applies to your relatives.