party is pulling out

[Utah]

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How hard is it to change your address to some other country on Party? Do you have to provide proof of residence? Or are they going to just not accept play from computers with IP addresses from the US? Isn't there a way to work around both of those?

I don't even play Party but I'm curious.

[/ QUOTE ]I already set up an offshore account today + IP masking. Took 30 seconds. However, I have a lot of friends in Eastern Europe that I trust. As long as party still has games I will still be able to play.

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how did you do this

[/ QUOTE ]My business partner is Russian and our offshore team is Russian. I know about 500 Russians as a result of this. They simply set up account for me under their name (they are not players now) and I use their account. I am using http://www.ufasoft.com/socks/ in case party blocks U.S. IPs.

[QUADS4444]

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"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.

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I don't want to "cry wolf", but I wouldn't be surprised if Party goes under. A company can not lose 80% of its revenue without incurring massive losses.

Many people will mistakenly assume that since Party has lost 80% of its revenue that it will lose 80% of its bottomline juicy profits (IE..still be profitable). Nope...doesn't work that way. Many of their costs are "fixed costs" and these are very hard to cut.

I expect Party to incure heavy losses for at least a couple of years until they can get their expenses inline with their much reduced revenues.

[Colonel Kataffy]

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"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.

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I don't want to "cry wolf", but I wouldn't be surprised if Party goes under. A company can not lose 80% of its revenue without incurring massive losses.

Many people will mistakenly assume that since Party has lost 80% of its revenue that it will lose 80% of its bottomline juicy profits (IE..still be profitable). Nope...doesn't work that way. Many of their costs are "fixed costs" and these are very hard to cut.

I expect Party to incure heavy losses for at least a couple of years until they can get their expenses inline with their much reduced revenues.

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Compared to any other business, I would think there fixed costs are non-existant. Wouldn't there biggest expense be advertising? Wouldn't that be pretty easy to drop out of?

[Autocratic]

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question: If I have money at party, is now the time to cash it out... or do I have time?

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You probably have a little time. I didn't take any chances, and cashed out today. I don't really trust Party not to seize my funds. I basically plan on getting my money into my bank and waiting all of this out to weigh my options (if playing poker online is still fun and profitable at this juncture).

[gumpzilla]

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Compared to any other business, I would think there fixed costs are non-existant. Wouldn't there biggest expense be advertising? Wouldn't that be pretty easy to drop out of?

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Between this and fewer satellites coming from online, I have to think the WPT is going to be toast very soon.

[semsorok]

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question: If I have money at party, is now the time to cash it out... or do I have time?

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You probably have a little time. I didn't take any chances, and cashed out today. I don't really trust Party not to seize my funds. I basically plan on getting my money into my bank and waiting all of this out to weigh my options (if playing poker online is still fun and profitable at this juncture).

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thanx man

[Utah]

There was an interesting article on gambling911 that said party and 888 may be doing this simply to set itself up as a takeover target.

[invisibleleadsoup]

surely the fact that party is a publicly traded company registered in england and subject to their laws is going to prevent them from running off with anyone's money?

[Obfuscation]

Brick and Mortar gaming stocks waaay up.

[hoterdoc]

where does the 270 days (269 remaining) figure come from?