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Party Poker news/rumor (?!)

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  1. pachanga74 pachanga74 is offline

    Fairfax, VA
    United States

    Posts: 112
    Joined: Jan 06

    Jun 27th, 2007 (6/27/2007 2:37pm)

    this from pokernews.com:

    Rumor
    PartyGaming Buyout Speculation Increases
    The recent sale of 4.3 million shares of PartyGaming stock (worth approximately Ł1.7 billion) by CEO Mitch Garber has fueled speculation that the online gaming giant is ripe for acquisition — perhaps by an American land-based casino enterprise — while other reports indicate that party itself may be looking to acquire other companies. Garber also allocated 300,000 shares of Party stock for distribution as employee bonuses, with the firm’s share price also climbing in recent days. What is known is that Party willingly entered talks with the U.S. Department of Justice over its business practices, and the company’s stock was recently elevated from ‘neutral’ to ‘buy’ status by one market-investment watcher, Deutsche Bank.
  2. FortuneMeyers FortuneMeyers is offline

    United States

    Posts: 1,454
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    Jun 27th, 2007 (6/27/2007 2:59pm) in reply to pachanga74

    oooooooooo weeeeeeeeeeeeeeeeee party is coming back maybe?
  3. darkcheck_ darkcheck_ is offline

    Costa Rica

    Posts: 5,007
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    Jun 27th, 2007 (6/27/2007 3:05pm) in reply to pachanga74

    plz god come back
     
  4. boggs boggs is offline

    Shorewood, IL
    United States

    Posts: 457
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    Jun 27th, 2007 (6/27/2007 3:07pm) in reply to darkcheck_

    Come back!
  5. cmitch cmitch is offline

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    Jun 27th, 2007 (6/27/2007 3:23pm) in reply to pachanga74

    party + Harrahs = Weeeeeee!!! (Fingers crossed)
  6. Nova2000 Nova2000 is offline

    Ny City, NY
    United States

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    Jun 27th, 2007 (6/27/2007 3:34pm) in reply to cmitch

    If party is acquired by Harrah's don't expect them to come back online right away (or at all for that matter)...I have met some very interesting people during my first year of business school and to think that this kinda of partnership will lead to Party coming back to the US is misguided...I hope I am incorrect as I would love to see the hey-day of online poker return because I miss Party, Paradise, and Intertops as much as the next guy, but I just don't know if it's gonna happen...
  7. lordxixor101 lordxixor101 is offline

    Westland, MI
    United States

    Posts: 6,364
    Joined: Mar 06

    Jun 27th, 2007 (6/27/2007 3:37pm) in reply to pachanga74

    If party is bought by a US based gambling organization, isn't the odds of it coming back remote (without a change in the law)? Heck, the CEO's will be here, ripe to be picked up and prosecuted. Now, if they were bought and taken private by someone in Europe, the odds of them coming back are probably far more likely (and, the company would be more valuable to someone in that position, since 50%+ of the market is in the US) than it would to a US based company, unless that company has a feeling they can persuade Congress to change the law.
  8. FortuneMeyers FortuneMeyers is offline

    United States

    Posts: 1,454
    Joined: Jan 05

    Jun 27th, 2007 (6/27/2007 3:38pm) in reply to Nova2000

    I am curious to what people miss the most about party poker. It is no secret that I miss the step sit and gos. What about everyone else?
  9. ZeeDustin ZeeDustin is offline

    San Antonio, TX
    United States

    Posts: 9,458
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    Jun 27th, 2007 (6/27/2007 3:40pm) in reply to lordxixor101

    i heard a rumor BigGunX is 6ft tall
  10. butterfly9 butterfly9 is offline

    Apollo Beach, FL
    United States

    Posts: 66
    Joined: Mar 06

    Jun 27th, 2007 (6/27/2007 4:03pm) in reply to ZeeDustin

    Well, well - that shows how believable these rumors are.
     
  11. Nova2000 Nova2000 is offline

    Ny City, NY
    United States

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    Jun 27th, 2007 (6/27/2007 4:23pm) in reply to lordxixor101

    Agreed if it is a US PE shop or Harrah's (owned by US PE shops now)...But even if a European PE shop buys them out I wouldn't expect to see them back in the States immediately, if at all...While they don't have the public "fiduciary responsibility" to investors they certainly have a lot of people who want 20+% returns and it would be damn risky to re-enter this market the way it is now...
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