Currently most favoured among the potential laws is HR 2366, which is at present under consideration in Congress. It would permit internet poker, granting five-year licences to operators and at first would be present only in casinos, racetracks or available from manufacturers with 500 machines, 250 tables or over $200m in annual revenue. It would also prohibit the use of credit card transactions.
Although the industry as a whole is contracted, PartyPoker has suffered significantly more than its competitors. According to the latest figures from PokerScout, cash games action at PartyPoker is down a staggering 50% compared to the same time last year. This is compared to 35% at iPoker, 22% at Ongame and 12% at PokerStars. Across all sites cash game activity is down only 16%.
Really not a sell at this price, it’s got to be worth holding for the day Nevada announce our licence. This WILL happen as a couple of the panel deciding on the applications are from MGM and Boyd so it would be a BIG shock if they blocked there own joint venture from getting in on the act. The day that happens we will get our annual 25% jump, only to fall slowly back down again probably. Reduce holding on the jump and wait and see is my plan, if I do that it’s bound to keep going up!!!!
Think you are touching a nerve I hope. Really worried now about my holding here. Have we got any USA State Licenses agreed yet. Is our stock cyclical now and we have to wait till November for an upside. Sell or Hold is the question. Not inclined to buy any more. Regulation seems to be taken a stranglehold and Bpty seem to keep losing legal battles. The Financial director sold at 1.35 early in the year - obviously had great vision.
The BOD blame current poor trading on Pokerstars fast poker and regulatory uncertainty. Funny that, 888’s update seems to be in a very different world (share price up 14% this morning) as results will be far ahead of expectations!!!!
Amazing what a well run and competent BOD’s can achieve…..TAKE NOTE BPTY OR HEADS WILL ROLL.
Bwin is likely to face additional sports betting taxes in the German market which will hit full year earnings by around €5-10m. On top of that, the group will have to invest more in its social gaming initiative.
We'll get more detailed numbers from bwin.party when it publishes its full half year results at the end of August.
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