It's all or nothing in homerun derby

[Kevin]

I'm an idiot and I couldn't be more giddy about it.

I've broken all the rules of investing having to do with diversification and taken a large % position of my IRA in PYGMF.

The stock is party gaming. It's 4.05 a share at purchase.

I'm not sure if any of you have followed the online gaming saga of "is it legal or illegal" but when the laws started barking louder party gaming (party poker and it's other sites) quickly jumped ship and stopped catering to u.s. players.

With that being said, they've been in talks with the govt from what ive heard, paid fines and been a "good boy" lately. I imagine this puts them in good graces with uncle sam. When online poker becomes legal, it wouldn't surprise me one bit to see them COME BACK in some capacity to the u.s. market and be a major player in the online poker industry.

Another thing that makes me raise eyebrows is that a bigwig there, Mitch Gerber, left and guess where he went to work? HARRAHS! It's been rumored and known that Harrah's is already ready to go online whenever the law allows them to.

It wouldnt surprise me one bit if party got either bought out or contracted with a major u.s. casino company, NAMELY HARRAHS and made fistfuls of loot.

Then again, none of this may happen and I may be left holding my dick in my hand along with an empty bag in the other hand!

Anyhoo. I am confident about two things. Online Poker IS INDEED going to be legalized in teh states within the next 1-5 years. I dont know who will run it, if u.s. companies will be the only ones allowed or if Euro companies will be allowed to take on american players.

The second thing I know is that party gaming has really busted tail to become a full service online poker room, online casino, sportsbook, bingo hall etc. They are so well positioned to be a frontrunner and they have the experience to boot.

Anyhoo, I don't have a crystal ball (as evidenced by my position in citibank at 40 bucks!) and I've eaten crow before, but chit, you can't hit a homerun if you don't swing the bat!

Taking a fat position in this stock and am gonna ride the wave even if it makes me look dumber than I already am by posting this LOL.

I do not recommend that anybody ever put more than 5% of their portfolio in any one stock. Diversification is surely the proper way to invest and I won't be the one who reinvents the wheel by diving into what may end up being a kiddie pool, but that's life for me. F it. Im old and need some excitement in my boring life LOL

[snowman]

good luck with it i have been playing a little lvs whenit dips doiwn below 8 i buy an when it gets around 10 i sell

[USFMD82]

Not a bad thought, if you look at prty the Britain counterpart, the stock is ridiculous. Wish I had an idea when they were gonna go with allowing the online stuff.. wonder if you'll be able to rack up points for the casinos if Harrahs goes on line.

Edit: Just put in a order for a few shares at $4.10

[Guest]

I agree with your prediction on the future but why is the stock have such low volume and no movement lately. What other stocks does this company offer?

[USFMD82]

Kevin any thoughts on this, do you still have yours holding there? was up to $4.40 yesterday today down to 3.85

This is the latest Online Gambling Billionaire Cashes In - Forbes.com

LONDON -
Anurag Dik**** is well on his way to severing all ties with the online gambling company that catapulted him to billionaire status.

PartyGaming, the world's largest online gambling firm, announced Tuesday that Dik**** was selling 66% of his stake in the company (or 75 million shares) for about 250 pence a share, to net some 213 million pounds ($350 milIion). This will reduce the size of his holding to 9.5% from 28%.

But it won't stop there. Dik**** (pronounced Dix-it) is also planning to sell his remaining stake in the coming months, according to his spokesman.

He'll be donating the proceeds from both sales to the charity he founded several years ago, the Kusuma Trust, which provides welfare support and educational opportunities to at-risk children in Gibraltar, India and the U.K. The money will be transferred to the charity "as soon as it is practically possible" said Shimon Cohen, who represents Dik****. There is already about 50 million pounds (or about $80 million) in the trust.

News of Dik****'s stake sale sent PartyGaming's shares plummeting by 15.6% in London on Wednesday, to close at 240.10 pence ($3.92).

But selling down his stake may actually improve PartyGaming's chances of getting a license to operate in the United States, assuming the 2006 federal ban on online gambling is eventually repealed and the sector regulated. Under current law gambling operators are unlikely to get licenses if one of their beneficial owners has a criminal record, which Dik**** does.

He pleaded guilty in December last year to violating American Internet laws and was slapped with a $300 million fine, which he paid off in June.

PartyGaming has meanwhile been positioning itself so that U.S. authorities can look favorably on it ahead of a law change. In April it reached an agreement with the U.S. Department of Justice in which it confessed to having previously violated American laws and said it would pay a $105 million fine, in exchange for protection from prosecution.

"We're keeping a close eye on all developments in the United States," PartyGaming spokesman John Shepherd said. Barney Frank recently introduced a proposal to legalize online gambling in the U.S. (See "Gambling Operators Bet On Barney Frank.")

Dik****'s representative insists he is not trying to make amends for his past involvement in the gambling sector by giving the proceeds from his stake sale to charity, adding that he has always intended to put as much money into his charitable trust as possible.

In terms of the timing of his sale, it is probable that Dik****'s financial advisors suggested selling his stake now to take advantage of the stock having doubled in the last year.

The notoriously private Dik**** has lived a rather modest life in Gibraltar for the last eight years. He doesn't own a car (though his wife does), preferring to walk around the small island, and eschews the typical trophy assets owned by billionaires, like boats and sports teams.

Dik****, 38, has also been gradually distancing himself from PartyGaming over the last few years. He resigned from the board in May 2006, just a few months before the Bush Administration outlawed online gambling in the U.S. Since then he has barely been involved in day-to-day management activities of the company.

Last year Dik**** was ranked at No. 701 on the Forbes list of the World's Billionaires, with a net worth of $1.0 billion. He had joined PartyGaming in 1998, a year after it was founded by American entrepreneur Ruth Parasol, and wrote the company's software that allowed gamblers in different parts of the world to pay poker with one another.

On a side note, I cant imagine going through life with the last name Dik****

[Kevin]

Dik**** selling his shares surely caused a dent in the current stock price. I have no details on the situation but am still gonna sit on my position.

All I can figure is that he's not a real high profile guy and it appears that he's satisfied with his current bankroll and is moving on to do good things for others with his loot.

If I was a billionaire, I'd probably sell out too. Not much else to achieve.

The article noted that he's in his mid to late thirties. Having been through that age myself, I can say that you start becoming more copable to the fact that time/family is what is truly important in life. You always know that, but it becomes a BIGGER thought at that age. I'd bet that dude has spent plenty of 100 hour weeks working and missing out on the finer things in life.

Just my personal opinion of course.

[USFMD82]

Hey, just wondering if your still holding onto this. haven't seen it move much either way