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PS Makes $20,000,000,000 a year

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  1. pokerproplaya08 pokerproplaya08 is offline

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    Mar 25th, 2011 (3/25/2011 7:49pm)

    http://www.gambling911.com/poker/big...oser-032411.ht

    ^^

    Pretty sure this is why the US Gov't wants to be regulating internet gambling.

    Discuss.
  2. wackyJaxon wackyJaxon is offline Admin X

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    Mar 25th, 2011 (3/25/2011 8:28pm) in reply to pokerproplaya08

    That's just revenue. With marketing and fpps, number is smaller, but still going to be a sick huge number. Must be nice for the private owners. I am now wondering what The Wynn paid to get in bed with PS.

    http://www.pocketfives.com/f10016/wy...ership-631776/
      1 
  3. pokerproplaya08 pokerproplaya08 is offline

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    Mar 25th, 2011 (3/25/2011 8:32pm) in reply to wackyJaxon

    yeah obv revenue is different than profit, but, i'm sure they're raking in billions a year from profits alone.

    N yeah, I'd like to know more about the Wynn deal myself.
    Thread Starter
  4. bonflizubi bonflizubi is offline

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    Mar 25th, 2011 (3/25/2011 8:53pm) in reply to pokerproplaya08

    net is a lot lowr than you think. party poker, which has more expenses as a public company only makes like 13% margin on poker. If stars had same margin that is only 360Milly a year profit. Which is hardly obscene
     
  5. tyson219 tyson219 is offline Moderator

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    Mar 25th, 2011 (3/25/2011 8:55pm) in reply to bonflizubi

     
    Originally Posted by bonflizubi View Post

    net is a lot lowr than you think. party poker, which has more expenses as a public company only makes like 13% margin on poker. If stars had same margin that is only 360Milly a year profit. Which is hardly obscene

    Did I miss something? Wouldn't that be $2.6 billion?
     969 
  6. pokerproplaya08 pokerproplaya08 is offline

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    Mar 25th, 2011 (3/25/2011 9:01pm) in reply to tyson219

     
    Originally Posted by tyson219 View Post

    Did I miss something? Wouldn't that be $2.6 billion?

    According to my calculator, it is.
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  7. bonflizubi bonflizubi is offline

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    Mar 25th, 2011 (3/25/2011 10:33pm) in reply to tyson219

     
    Originally Posted by tyson219 View Post

    Did I miss something? Wouldn't that be $2.6 billion?


    i stand corrected. didn't see teh 1B chips out there ;)

    also, everyone fails reading comprehension. even me. the 200Bill is not a correct number.

    quoting from the article:
     

    "This information was disseminated from a PR firm we used two months ago and these numbers are completely wrong," a spokesperson for the company told Gambling911.com Friday. "They completely botched the release up and we are notifying all news organizations of this today."

     
  8. tyson219 tyson219 is offline Moderator

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    Mar 25th, 2011 (3/25/2011 10:41pm) in reply to bonflizubi

    Haha. Well done bon. 20 billion in revenue (mostly rake, right?) per year does sound way too high.
     969 
  9. norv norv is online now

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    Mar 26th, 2011 (3/26/2011 4:33am) in reply to tyson219

    well considering FT made about 46m profit for the last financial year........that figure is so over-rated it is not possible, from FT's results I would put them back into Bon's range - prolly about 350 million, not bad though
  10. pokerproplaya08 pokerproplaya08 is offline

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    Mar 26th, 2011 (3/26/2011 7:48am) in reply to norv

     
    Originally Posted by norv View Post

    well considering FT made about 46m profit for the last financial year........that figure is so over-rated it is not possible, from FT's results I would put them back into Bon's range - prolly about 350 million, not bad though

    350 mill is still heaps to get tax from
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  11. bonflizubi bonflizubi is offline

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    Mar 26th, 2011 (3/26/2011 8:40am) in reply to pokerproplaya08

     
    Originally Posted by pokerproplaya08 View Post

    350 mill is still heaps to get tax from


    true. But that's my estimate based on a number that stars said was completely incorrect.

    Amazing this thread keeps trying to analyze a wrong number. And even if it was correct as their global income the US wouldn't likely be taxing a US facing site on worldwide income if it wasn't based here, but rather some function of US based play. And obviously that number is much smaller.

    @Norv.. source for your FTP 46MM profit figure?

    edit: IIRC when the Frank legalization bill was running through congress last time around estimates from the Govt and from the pro-poker lobby were in the billions of $$$ of tax revenue over10 years I think. Those numbers that even the government projected are why they'd be able to pass something through. Doesn't matter whether it comes from stars, tilt, cake or some new company.

    We'd all be better off explaining that in emails or phone calls to our legislators than by debating the absolute value here on a pro-poker forum.
    Edited By: bonflizubi Mar 26th, 2011 at 08:46 AM
     
  12. norv norv is online now

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    Mar 27th, 2011 (3/27/2011 9:20am) in reply to bonflizubi

    read it in the email newsletter "poker news daily" about a month ago :-)

    plus as it's an irish site, the amount referred to irish pounds? or possibly euro's?
    Edited By: norv Mar 27th, 2011 at 09:23 AM
  13. MattAKA MattAKA is offline

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    Mar 27th, 2011 (3/27/2011 1:16pm) in reply to norv

    i dont know how the tax works for this really but if stars doesn't move their company to america what can they tax from their profits? isn't it the country were the company is located right to tax their profits?
  14. wackyJaxon wackyJaxon is offline Admin X

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    Mar 27th, 2011 (3/27/2011 2:54pm) in reply to MattAKA

     
    Originally Posted by MattAKA View Post

    i dont know how the tax works for this really but if stars doesn't move their company to america what can they tax from their profits? isn't it the country were the company is located right to tax their profits?

    They did just partner with the Wynn on something. I imagine US regulation will be a little similar to France's where all servers need to be on US Soil. Could be off-base, but France's regulatioin seemed like a pure tax play.
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  15. MattAKA MattAKA is offline

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    Mar 28th, 2011 (3/28/2011 7:03am) in reply to wackyJaxon

     
    Originally Posted by wackyJaxon View Post

    They did just partner with the Wynn on something. I imagine US regulation will be a little similar to France's where all servers need to be on US Soil. Could be off-base, but France's regulatioin seemed like a pure tax play.

    increase in fees and rake maybe then to subsidize the new taxes?
  16. bonflizubi bonflizubi is offline

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    Mar 28th, 2011 (3/28/2011 7:43am) in reply to MattAKA

     
    Originally Posted by MattAKA View Post

    increase in fees and rake maybe then to subsidize the new taxes?


    the last few bills introduced in the US taxed licensed companies based on player deposits + a license fee. Something like 2% of deposit amounts or whatnot (Don't remember exact percentage) That tax couldn't come out of the player's end, it was the FTP/stars/whoever who had to pay it.

     
    Originally Posted by MattAKA View Post

    i dont know how the tax works for this really but if stars doesn't move their company to america what can they tax from their profits? isn't it the country were the company is located right to tax their profits?


    Also, does NOT matter where a company is located if the US law says that for you to accept a license from us you owe us tax/fees based on whatever rules we set. If you don't accept those terms you don't get the license. EZ game.

    And Wacky...if we do get licensed I-poker in the states anytime soon, it IS a tax and jobs grab. The French aren't the only ones to figure that out.
    Edited By: bonflizubi Mar 28th, 2011 at 07:44 AM
     
  17. MattAKA MattAKA is offline

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    Mar 28th, 2011 (3/28/2011 12:46pm) in reply to bonflizubi

     
    Originally Posted by bonflizubi View Post

    the last few bills introduced in the US taxed licensed companies based on player deposits + a license fee. Something like 2% of deposit amounts or whatnot (Don't remember exact percentage) That tax couldn't come out of the player's end, it was the FTP/stars/whoever who had to pay it.

    Also, does NOT matter where a company is located if the US law says that for you to accept a license from us you owe us tax/fees based on whatever rules we set. If you don't accept those terms you don't get the license. EZ game.

    And Wacky...if we do get licensed I-poker in the states anytime soon, it IS a tax and jobs grab. The French aren't the only ones to figure that out.

    so i guess its a matter of will getting an american license be more profitable then not getting one. ohwell at the end of the day i get to say go australia
  18. andyvanslyke andyvanslyke is offline

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    Mar 28th, 2011 (3/28/2011 2:29pm) in reply to MattAKA

    I've talked with a CEO of a major poker site (not stars or FTP) who put FTP's profits way above 46m per year and Stars profits at over $2b+ per year. That 46m number seems ridiculously low. It might be accurate in a bad month.

    Sorry but I can't tell you who it was, but it was a reliable source.
     
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