2005-06-28
Now that PartyGaming has gone public, it’s owners are billionaires. See the story here.
Short summary: Each of the two main owners (husband and wife) will immediately make $370 million. Each. They both still own shares worth $2.7 billion. That’s “billion”. With a “B”.
Un-freaking-real.
The article goes on to say that Party makes a profit of $1000 per minute.
Wow.
OK, no other content. The 200NL games at the aforementioned site have been very rockish lately. I was able to pull in a $25 profit last night before getting bored out of my skull. I may go back to the 100NL because I think it will actually be more profitable. Now that I’m cutting back on the time I play, I have to look for what is more profitable and not just play higher because I can.
June 28th, 2005 at 9:57 am
I dropped back from 200NL to 100NL on party several months ago and have increased my profit. I’ve found that I’m much more likely to get paid when I make a hand; people will bet their entire stack with TPTK (and sometimes even worse).
June 28th, 2005 at 10:11 am
Agreed. Having moved from the 50NL to 100NL, I’ve found many a session where I’m +/- less than 1 buy-in. That rarely happened at the lower limits.
June 28th, 2005 at 12:20 pm
WOW!! I can’t believe Party Poker is going to make BILLIONS!!
June 30th, 2005 at 5:55 am
great site, Cool, I’ll add you to my favorites and link up to you.
July 2nd, 2005 at 7:41 pm
I’m surprised we don’t here more about the owners on these online poker rooms. Perhaps because of online pokers semi-legal status in some places, they like to keep a low profile.
Not that I have any idea what I’m talking about.
July 11th, 2005 at 4:00 am
When you really research it looks like a very good stock to short. Their p/e seems to be based on the belief that they will sustain the same growth as they have for the past 2 years, despite the fact that they now seem to be growing very slowly. The poker fad is peaking, and while it may continue to chug on about where it is or maybe even grow slowly it is apparent to any poker player that it is not growing anywhere near fast enough to warrant such an absurd share price.