stylez09 0 Posted March 30, 2005 Share Posted March 30, 2005 Just wondering if anyone knows what group or corporation owns party poker or any other online poker site. I have heard they make something like 400 million dollars a year in pure profits. Do you think they will eventually be taxed and regulated by the US government? Just wondering... Link to post Share on other sites
Wingmaster05 0 Posted March 30, 2005 Share Posted March 30, 2005 use the trusty google and try to find out. i dont even know where party poker is based, but they should have the highest profit out of all of them. Link to post Share on other sites
....Ian.... 0 Posted March 30, 2005 Share Posted March 30, 2005 Do you think they will eventually be taxed and regulated by the US government? Just wondering...(i could be wrong) but if the servers and actual business (or parent co.) is out of the US then they cant tax the corporation. Link to post Share on other sites
TejasPoker 0 Posted March 30, 2005 Share Posted March 30, 2005 Heard some rumors lately, about online poker going before congress or ? to be legalized & controlled/taxed by the states? Some would like to outlaw it, thats waaaaaay too many tax $$$'s though, if they can get a piece of the action! Link to post Share on other sites
mcpickie 0 Posted March 30, 2005 Share Posted March 30, 2005 party poker makes $3M per day in revenues. They are owned by a large corporation that is going public very soon.The company is overseas so they cant be taxed and regulated easily by the US government.If they really wanted to they could make some FCC regulation that would ban online gaming altogether. But I doubt they will.They're too busy playing god to people in vegetative states. Link to post Share on other sites
KidKanuck 0 Posted March 30, 2005 Share Posted March 30, 2005 Thier major servers if not all are just down the road from me on the Kahnawake Reserve just outside of Montreal...I guarantee that thier money in in so many offshore accounts that it would be impossible to know profits etc. Link to post Share on other sites
Guest Posted March 30, 2005 Share Posted March 30, 2005 http://www.guardian.co.uk/business/story/0...1441390,00.html Link to post Share on other sites
KDawgCometh 2 Posted March 30, 2005 Share Posted March 30, 2005 I heard something about PP maybe floating on an exchange(don't know where though) Link to post Share on other sites
KidKanuck 0 Posted March 30, 2005 Share Posted March 30, 2005 party poker makes $3M per day in revenues. They are owned by a large corporation that is going public very soon.The company is overseas so they cant be taxed and regulated easily by the US government.If they really wanted to they could make some FCC regulation that would ban online gaming altogether. But I doubt they will.They're too busy playing god to people in vegetative states.$3M per day...what legitimate audited source did you get this number from? Unless you work for them as thier controller I cannot see where you would get that info from. Frankly if they were in fact going public it would be a violation to divulge critical financial data on the eve of a public offering...just ask Martha Stewart, she knows there are rules.If they were going public which I cannot see, they won't be going public with any part of thier business that contains online gambling...no legit exchange would allow for a company that could not possibly be regulated trade publicly.these of course are just my opinions and based on no facts whatsoeverKK Link to post Share on other sites
....Ian.... 0 Posted March 30, 2005 Share Posted March 30, 2005 i heard the devil,some wall street investors, and william hung formed a pact and used ancient Aztec magic to make it a success, and are using the money to fund a project to make the biggest flushable toilet in the worldtrue story Link to post Share on other sites
RISINGSHARK 0 Posted March 30, 2005 Share Posted March 30, 2005 Ian, is your avitar a picture of you ?Read the link above, I think that tells you all you need to know.Please ban that avitar, ITS VERY WRONG !!!!! :!: Link to post Share on other sites
....Ian.... 0 Posted March 30, 2005 Share Posted March 30, 2005 Ian, is your avitar a picture of you ?hahhaha no its a guy named don vito from a show called 'viva la bam' Link to post Share on other sites
beernivore 0 Posted March 30, 2005 Share Posted March 30, 2005 I think they're in Gibraltar, at least that's the government that "regulates" the site.There was a proposal before the North Dakota legislature to allow online poker sites to locate their "physical nexus" in that state. It was pitched as a potential economic boon, but the legislators backed off and killed the bill in the state senate.There's no national movement to legalize online gambling. In fact, the justice department has pressured some of the credit card companies not to accept charges from known online gambling sites. I think the U.S. govt is pretty wary of the phenomenon but is not sure what to do about it.Maybe Bill Bennett can tackle the issue!PP's customer service ops clearly are in India.I wouldn't be surprised if at some point there was a crackdown a'la Napster and the other file-sharing sites where a few players were targeted as a scare tactic. Fortunately for the online poker players, I'm not aware of any lobbying by brick-and-mortar casinos to get these sites shut down in the U.S. It certainly could happen though because it's competition for them. Link to post Share on other sites
MilesZS 0 Posted March 30, 2005 Share Posted March 30, 2005 Here's onehttp://www.playwinningpoker.com/guides/party-poker/http://www.pokernews.info/news/2005/03/par...-ipo-update.htmthere's another.The parent company of Party Poker is going public on the London FTSE (PartyGaming). However, the US is a hurdle at this point. Read the articles, they're short. Link to post Share on other sites
jonnyhockey 0 Posted March 30, 2005 Share Posted March 30, 2005 http://www.guardian.co.uk/business/story/0...1441390,00.htmlLeave it to me to reduce this topic to potty humour, but anybody else see the name of the dude in this article? Dikshit? You can't make that stuff up.I think you could make a very rough estimate with regards to how much PP makes if you spent a week or two doing some math. Average hands/hour, rake/hand, tournaments/hour, rake/tournament, blah blah blah.One of you guys do it and let me know. Link to post Share on other sites
beernivore 0 Posted March 30, 2005 Share Posted March 30, 2005 the above article says they make $1 million a dayno need to crunch the numbers Link to post Share on other sites
711Buddha 0 Posted March 30, 2005 Share Posted March 30, 2005 The statements they have $3MM / Day in revenues -and-they make $1MM / Day don't have to be mutually exclusive. They could clear about $1MM/day on revenues of $3MM. I suspect they have a more global presense, prob. Gibralter, Costa Rica, Reservation/Canada - no sense in putting all your eggs in one basket (or all your servers on one backbone.) If they are making $1MM / Day why go public? The purpose of going public is to raise capital for expansion - how much expansion can they really do?Here's a couple ideas I had in just the two secs I was sitting here writing this. How about PARTY CRUISE LINES - a steady stream of on line feeder tourneys to fill up some local boats for 1 day tourneys (river boats and barges) and a cruise ship in the Caribbean, the Mediterranean, and Pacific that are floating card games/destinations.How about a B&M chain of cardrooms across the country? Use your Party Chips live? You're looking at just tip of the iceberg folks. Link to post Share on other sites
darksung 0 Posted March 30, 2005 Share Posted March 30, 2005 In this articlehttp://www.guardian.co.uk/business/story/0...1441390,00.htmlOne of the partners is called Anurag Dik's'hit Link to post Share on other sites
MilesZS 0 Posted March 30, 2005 Share Posted March 30, 2005 In this articlehttp://www.guardian.co.uk/business/story/0...1441390,00.htmlOne of the partners is called Anurag Dik's'hit O yeah, the actual Party Gaming execs don't like to use their real names, if I remember right. Therefore, they end up being quite comical. I'm sure they are having a ton of fun with it. I was wondering if they were gonna go public and then make moves on some of their competitors -- like buying out some of the other rooms. That's just my first instinct. There are a crap load of rooms, and somehow (why or how I don't know) they all have at least a few thousand players. Might as well buy them up and line your pockets while thinning out the competition.I don't claim to be business minded. Link to post Share on other sites
superchuck 0 Posted March 30, 2005 Share Posted March 30, 2005 mike sexton adn shana hyatt own party poker and there yearly income is around 15 million dollars each. Link to post Share on other sites
MilesZS 0 Posted March 30, 2005 Share Posted March 30, 2005 mike sexton adn shana hyatt own party poker and there yearly income is around 15 million dollars each.Is there a comedy game going on I don't know about? If so, I'll be the judge.[ 1 ]Congratulations, you didn't get the worst score possible. Well you did. But congratulations on... existing. There a millions of people who don't exist, but you do, so that's good. Link to post Share on other sites
Bravado2112 0 Posted March 30, 2005 Share Posted March 30, 2005 $3M per day...what legitimate audited source did you get this number from? Unless you work for them as thier controller I cannot see where you would get that info from. Frankly if they were in fact going public it would be a violation to divulge critical financial data on the eve of a public offering...just ask Martha Stewart, she knows there are rules.If they were going public which I cannot see, they won't be going public with any part of thier business that contains online gambling...no legit exchange would allow for a company that could not possibly be regulated trade publicly.these of course are just my opinions and based on no facts whatsoeverKKThey are going public in London, but this is completely incorrect if you are talking about the US. Audited financials are a REQUIREMENT to be listed on any major exchange (ie - non pink-sheets) in the US. A registration statement must contain audited financials and they must be from within 135 days I believe from the date of the filing as well as each subsequent amendement. A registration statement absent current financial statements won't be declared effective by the SEC. Link to post Share on other sites
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