I'm Canadian but FUCK YOU US GOVERNMENT GO FUCKING DIE. I HOPE BILL FRIST DIES OF CANCER. FUCK YOU.

http://investing.reuters.co.uk/news/...+RNS&type=qcna

http://investing.reuters.co.uk/stock...PRTY.L&chart=1

http://investing.reuters.co.uk/stock...x?symbol=888.L

http://uk.finance.yahoo.com/q?s=NLR.L

1.) "the Company will suspend all real money gaming business with US residents, and such suspension will continue indefinitely, subject to clarification of the interpretation and enforcement of US law and the impact on financial institutions of this and other related legislation." -Reuters

I touched on this already here: Online Poker Being Banned Tonight

2.) Irresponsible thread title because they haven't pulled out yet.

3.) Of course, people will sell their stock in fear. They always do even when there's little to fear.

Yeah, I'm aware that the thread title could be a bit better considering the seriousness of this matter.

PartyGaming has said in that press release that they WILL pull out of the US market as soon as Bush signs the bill into law. The "subject to clarification..." statement explains that they won't be offering US residents access to their server until they figure out if it's going to be legal or not. From what I can understand this means that if Bush signs this into law on Wednesday at the earliest then all US accounts will be immediately suspended and mass cashouts will commence. Since PartyGaming is a publicly traded company, this means they most likely don't have enough money in cash to handle a mass cashout of this scale.

I may be a little paranoid... but why shouldn't I be? This is the worst news possible at this moment. I don't think anyone was expecting Party to just give up that easily. 80% of their revenue comes from the states. That's not exactly easy to make back. A 60% drop in stock in under an hour is a big deal.

"The Board respects the laws of the US Government, and will continue to analyse their applicability..." -Mitch Garber, Chief Executive Officer of PartyGaming

This doesn't sound like giving up to me. This sounds like a CEO willing to push the boundaries. They're saying that they respect the US Laws, but if the laws cannot be applied, they have nothing to worry about. Basically, they're inconclusive, not that they're pulling and waiting. It's highly possible that they are indeed going to pull and wait instead wait to pull, but the Board is inconclusive at this time.

Originally Posted by manifest

Since PartyGaming is a publicly traded company, this means they most likely don't have enough money in cash to handle a mass cashout of this scale.

Not sure if this applies to Poker sites but from my understanding of financial institutions, if you are going to be holding someone elses money then you legally have to have that money physically held in a seperate "client money" account incase of such an event when you have to pay it back.

Originally Posted by WotaWaster

I almost bought some shares in Party last week - thank god I didn't. Would this make it an ideal time to snap some up amidst the panic?

I'm heavily considering it. It that stock slips under $40, buying shares is definitely +EV. The boost after the panic ends including their fairly aggressive advertising campaigns will make that stack skyrocket again and will hit a point of normalcy again.

Although they haven't said they're pulling out yet, that have said if the bill becomes a law they will.

http://www.londonstockexchange.com/L...926&source=RNS