Partygaming Float - interesting article

[Simmo!]

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The BBC (as ever!) have a good article on the recent float here. Also delves into US online gambling law...thought some might find it an interesting read.

Its funny but the other day i read in a paper about an investor who bought a load of shares but beleived gambling was immorla. Er...so what's investing if it's not gambling?!

My bet: Debut - sharp rise, long gradual fall, level out at half-the debut price

Cheers

Simmo!

PS. Also worth a read:

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- "The Human Cost Of Online Gambling"

 

[Webzcas]

Well they are doing okay this morning. I'm guessing they will continue to climb and be worth more 6 months down the line than their initial floatation price.

Fancy betting against me on Betfair Simmo?

 

[Simmo!]

Well they are doing okay this morning. I'm guessing they will continue to climb and be worth more 6 months down the line than their initial floatation price.

Fancy betting against me on Betfair Simmo?

Absolutely matey. 10 says in 2 years time they'll be worth half what they are at the end of this week

 

[Webzcas]

Done.

 

[Simmo!]

Done.

Cool - better bookmark this thread then. Easiest 10 i ever made

 

[Webzcas]

Cool - better bookmark this thread then. Easiest 10 i ever made

 

[spearmaster]

Anyone who knows how I can sign up with a UK broker online to get shares, let me know please. I am of the view that PG will outdo Google's performance.

It's not every day that a company cracks the FTSE 100 on debut, after all.

 

[Simmo!]

It's not every day that a company cracks the FTSE 100 on debut, after all.

Damn you spotted my theory SM. Hit the FTSE 100 on your first day and there's only 1 way to go from there

Seriously though i think this is great news for the industry in general. While it won't convince any moralists, it does kind of bring the whole online gambling thing more into the open and should hopefully go some way to showing that there is an acceptance that online gaming can be taken seriously.

 

[jetset]

Bearing in mind that the stock was three times oversubscribed by institutional investors (they were the market yesterday) and went on at 116p it did very well according to a review late last night:

"Shares in PartyGaming surged to 130.5p to finish 13 per cent above its listing price of 116p, after it completed the biggest London flotation in five years.

"PartyGaming's market capitalisation was about 5.2bn last night, making the eight-year-old company larger than Marks & Spencer, British Airways and Boots by valuation. It is set to gain entry into the FTSE 100 in autumn."

Parasol, Dikshit et al did rather well out of it:

"Anurag Dikshit, its reclusive operations director, sold 365 million of shares, and has a stake worth 1.6 billion. Thirty eight year old Ruth Parasol, the brainchild behind the company, collected 189 million from selling shares and has a stake in the business worth 832 million. Vikrant Bhargava, PartyGaming's marketing director, sold 103 million of shares and has a stake worth 468 million.

"Richard Segal, the chief executive who sold 9 million of shares in the float and has options over a tranche worth 42 million, said investors had given the company's future a ringing endorsement."

Spear have you tried Charles Schwartz for purchasing - they're big online in the brokerage field and although based in the States do global deals.

 

[Simmo!]

"Anurag Dikshit, its reclusive operations director, sold 365 million of shares, and has a stake worth 1.6 billion. Thirty eight year old Ruth Parasol, the brainchild behind the company, collected 189 million from selling shares and has a stake in the business worth 832 million. Vikrant Bhargava, PartyGaming's marketing director, sold 103 million of shares and has a stake worth 468 million.

Truly frightening.

 

[spearmaster]

Jetset - I assume you are talking about Charles Schwab - I did check there, but, as with every other place I've checked so far, you have to be a UK resident (or have a UK bank account) to register.

This is proving a bit more difficult than I thought - perhaps on my next trip to London at least I should get a bank account.

Simmo - want another tenner?

 

[Simmo!]

Simmo - want another tenner?

Thanks Spear. Just transfer it to my NETeller account - it'll save hassling you in 2 years time

 

[Simmo!]

Ah my 10 from you two is getting ever closer. Go to Starluck or Planetluck and try emailing them from their Help pages. Both bounce like babies

Oddly (i would have thought?), both bounce from "MAILER-DAEMON@yahoo.com". You reckon the Stock Exchange haven't coughed up yet so they're using Free Email til they do?

-----------
Hi. This is the qmail-send program at yahoo.com.
I'm afraid I wasn't able to deliver your message to the following addresses.
This is a permanent error; I've given up. Sorry it didn't work out.

<Info@PlanetLuck.com>:
195.10.44.13 does not like recipient.
Remote host said: 550 User unknown.
Giving up on 195.10.44.13.

 

[spearmaster]

That doesn't explain why PartyGaming has hit 149p from its opening at 122p... and only today is showing its first downturn (of 1p)

I still reckon my 10 quid is as good as my last Golden Goose hit...

 

[Webzcas]

Yes Simmo, you might as well pay us now.

 

[Simmo!]

That doesn't explain why PartyGaming has hit 149p from its opening at 122p... and only today is showing its first downturn (of 1p)

I still reckon my 10 quid is as good as my last Golden Goose hit...

It "peaked" at 152.25p today - all downhill from there Spear. Thinking about it you might be best donating your 10 to Party so they can afford an email hosting provider for a month while the money goes thru

 

[spearmaster]

The drop is the result of a common Friday phenomena called "profit taking".

Another tenner says it will finish next week above 160p.

 

[Webzcas]

Currently 1.39 - looks like you may owe Simmo a tenner Spear.

I on the other hand am looking safe for my bet with Simmo. 2 years is a long time mind

 

[Simmo!]

Currently 1.39 - looks like you may owe Simmo a tenner Spear.

yeah baby

 

[mary]

I want in on this action. I think it will be down 30% in six months. $10 American.

 

[Webzcas]

I want in on this action. I think it will be down 30% in six months. $10 American.

Done. You have been

 

[spearmaster]

Easy way to collect from me - find me a way to buy the stocks - and then sell short while I buy up

 

[Simmo!]

Well it opened at $1.29, the $1.52 marker was set a week after trading. It's now dropped to $1.20 Oh yeah....roll on down to $0.76 baby

 

[TrickyNicky]

Easy way to collect from me - find me a way to buy the stocks - and then sell short while I buy up

can't you get a UK broker to buy them on your behalf? Thats what most people I know who invest would do...
otherwise don't you know anyone in the UK who could buy them in your name?
TN

 

[spearmaster]

Actually, I'd like to see the shares drop further as well - then I would personally fly into UK and find a way to get a trading account.

Not to mention paying Simmo a few quid for a lost bet.