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PartyGaming Plc (LSE: PRTY) is an online gambling company, best known for its online poker room PartyPoker.com. It is headquartered in Gibraltar and quoted on the London Stock Exchange. PartyGaming Plc was founded in 1997 with the launch of Starluck Casino. Prior to passage of anti-online gambling legislation by the U.S. Congress, PartyGaming Plc was the world's largest online poker brand (based on ring game revenue and number of players); though its total number of active players has diminshed with the loss of its U.S. customers, the company continues to grow with a solid European presence. Image File history File links No higher resolution available. ...
A public company usually refers to a company which is permitted to offer its securities (stock, bonds, etc. ...
1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ...
Image File history File links Flag_of_Gibraltar. ...
Multiplayer is a mode of play for computer and video games in which multiple people can play the same game at the same time. ...
Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ...
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The United States dollar is the official currency of the United States. ...
A fiscal year (or financial year or accounting reference date) is a 12-month period used for calculating annual (yearly) financial reports in businesses and other organizations. ...
Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ...
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A Web site (or colloquially, Website) is a collection of Web pages, images, videos and other digital assets that is hosted on a Web server, usually accessible via the Internet or a LAN. A Web page is a document, typically written in HTML, that is almost always accessible via HTTP...
The Source by Greyworld, in the new LSE building Paternoster Square. ...
Online gambling is a general term for gambling using the Internet. ...
Online poker is the game of poker played over the Internet. ...
The Source by Greyworld, in the new LSE building Paternoster Square. ...
Ring games, also called cash games, are live poker games played with real chips and money on the line, usually with no predetermined end time. ...
PartyGaming was founded in 1997 as a network of gambling sites operated by Ruth Parasol in the Caribbean. The network eventually operated under an umbrella company called iGlobalMedia, which then changed its name to PartyGaming. PartyGaming's flagship site, PartyPoker.com, was launched in 2001. Its primary shareholders are Parasol, Group Operations Director Anurag Dikshit, Marketing Director Vikrant Bhargava (who joined the company in 1998 and 1999, respectively), and Russ DeLeon (Parasol's husband, Harvard attorney and serial entrepreneur). The foursome sold over 23% of their combined shares to take the company public on the London Stock Exchange in 2005. Dikshit and Bhargava stepped down from the company's board in May 2006. Dikshit announced that he will remain with the company as COO; Bhargava will continue as an advisor and shareholder of the company while pursuing other business interests.[1] Ruth Parasol is a co-founder of PartyGaming with her husband Russ DeLeon. ...
Anurag Dikshit (अनà¥à¤°à¤¾à¤— दीकà¥à¤·à¤¿à¤¤) (born 1973, in New Delhi), pronounced Dix-it,[1] is a billionaire Indian businessman, the richest man in Gibraltar and the 207th richest man in the world. ...
Image:Vikrant Bhargava. ...
Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ...
Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ...
Russ DeLeon is a co-founder of Timber Cove and PartyGaming with his wife Ruth Parasol. ...
The Source by Greyworld, in the new LSE building Paternoster Square. ...
PartyGaming's holdings include the PartyPoker.com poker site, PartyCasino.com, PartyBingo.com, and Starluck and Planet Luck Casinos. In February 2006 PartyGaming introduced a new integrated platform, enabling multiple games to be played without requiring customers to log in each time and deposit funds in separate accounts. An online backgammon site, PartyGammon.com, was launched in mid-2006. In August 2006 PartyGaming acquired Antigua and Barbuda registered sports betting operator Gamebookers which focuses on the European market. Media:Example. ...
Backgammon is a board game for two players in which pieces are moved according to the roll of dice and the winner is the first to remove all his pieces from the board. ...
 Party Gaming Revenue from poker in the years 2002-2006 Due to concerns about the legality of online gambling in various jurisdictions around the world, the company is incorporated in Gibraltar. At one point, U.S. consumers represented around 75% of PartyGaming's revenues. In October 2006, PartyGaming pulled out of the US market following the passing of anti-gambling measures in the Safe Port Act, and the company's share price dropped 60% as a result. Image File history File links This is a lossless scalable vector image. ...
Image File history File links This is a lossless scalable vector image. ...
The Security and Accountability For Every Port Act of 2006 (or SAFE Port Act, Pub. ...
PartyGaming IPO
In June 2005, some of the top shareholders of PartyGaming plc sold 23% of the company's stock in an initial public offering on the London Stock Exchange. The initial offer price of 116p valued the company at £4.64 billion ($8.46 billion). Within a month the share price rose to make the value of the company exceed twelve billion dollars. In early September 2005 a cautious statement about future growth prospects saw the shares fall by a third in a day, but the same week the company was promoted to the FTSE 100 Index. By the end of November 2005 the stock had regained its original IPO value. Profits for 2005 were $325 million before tax. An initial public offering (IPO) is the first sale of a corporations common shares to public investors. ...
The Source by Greyworld, in the new LSE building Paternoster Square. ...
For details of notes and coins, see British coinage and British banknotes. ...
ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ...
The Financial Times Stock Exchange Index of 100 Leading Shares, or FTSE 100 Index (pronounced footsie), is a share index of the 100 largest companies listed on the London Stock Exchange. ...
During the IPO, no new shares of PartyGaming were issued, and the company did not receive any additional capital as a result. Rather, shares merely changed hands with the four shareholders reducing their shares to benefit employees. The company remains a volatile stock and a growth situation as so little of gaming revenue is currently online. It is estimated that the online gaming market generated revenue of approximately $8.2 billion in 2004, representing just over three per cent of the total global gaming market. In 2004, casino and bingo games represented approximately 29 per cent of the online gaming market, and poker represented approximately 13 per cent. Dresdner Kleinwort Wasserstein Limited serves as PartyGaming Plc's financial advisor. // Dresdner Kleinwort Wasserstein (DrKW) is the investment bank of Dresdner Bank AG, part of Allianz since July 2001. ...
PartyPoker.com
 PartyPoker.com is PartyGaming's best-known brand. PartyPoker.com was launched in 2001 and has since grown to be one of the largest online poker card rooms. At peak times, over 100,000 players can be found playing on the site's virtual poker tables. The site is endorsed by Mike Sexton, the host of the World Poker Tour television show. This is a copyrighted and/or trademarked logo. ...
This is a copyrighted and/or trademarked logo. ...
Year 2001 (MMI) was a common year starting on Monday of the Gregorian calendar. ...
Online poker is the game of poker played over the Internet. ...
Mike Sexton (born September 22, 1947) is an American professional poker player and commentator. ...
The World Poker Tour (WPT) is a series of poker tournaments featuring most of the worlds professional players. ...
Games include Texas Hold 'em (No Limit and Fixed Limit), Omaha and Omaha Hi-Lo, Seven-card Stud and Seven-card Stud Hi-Lo. Stakes range from 0.05/0.10 to 100/200 for limit games, and 0.02/0.04 to 25/50 for No-Limit/Pot-Limit games. Texas hold em Texas hold em (also holdem, holdem) is the most popular of the community card poker games. ...
// Wikibooks Poker has more about this subject: Betting This article describes the common terms, rules, and procedures in the game, but does not cover the strategic impact of betting. ...
// Wikibooks Poker has more about this subject: Betting This article describes the common terms, rules, and procedures in the game, but does not cover the strategic impact of betting. ...
Omaha holdem (or Omaha holdem or simply Omaha) is a community card poker game based on Texas hold em. ...
Seven-card stud is a variant of stud poker. ...
Players can play for either real money or play money. All poker variants offered at real money tables are offered at play money tables. Party Poker offers a bad beat jackpot, which has at times grown to over $700,000 USD. In poker, bad beat is a subjective term for a hand in which a player who had what appeared to be strong cards nevertheless loses. ...
Party Poker makes money by taking a percentage of each ring game pot (this is known as the rake) and approximately 10% of entry fees for each real-money tournament. The site has dealt over six billion real money hands and over fifty billion play money hands, including tournaments. Ring games, also called cash games, are live poker games played with real chips and money on the line, usually with no predetermined end time. ...
The rake is the scaled commission fee taken by a casino operating a poker game. ...
An amateur poker tournament in progress. ...
Tournaments
Screenshot of PartyPoker software. The site offers a variety of tournaments, ranging from ten to thousands of participants with some very lucrative prize pools. Image File history File links Pokerpartyscreen. ...
Image File history File links Pokerpartyscreen. ...
Single-table and multi-table tournaments are offered. Furthermore, there are both scheduled tournaments (which begin at a specified date and time) and tournaments which are offered 24 hours a day and begin as soon as the table is full. The latter type of tournament is commonly called a "Sit 'n Go" or "SNG" tournament.
The flagship tournament is the PartyPoker.com Million, now in its fifth year. This is a Limit Texas Hold'em Tournament. The second, third and fourth Party Poker Million tournaments were World Poker Tour events. The tournament begins with online qualifiers but the final stages are held at actual poker tables aboard a cruise ship. The winners of previous Party Poker Million events were Kathy Liebert, Howard Lederer, Erick Lindgren, Michael Gracz, and Mike Schneider. Pacific Sky sails under Sydney Harbour Bridge A cruise ship or a cruise liner is a passenger ship used for pleasure voyages, where the voyage itself and the ships amenities are considered an essential part of the experience. ...
Kathy Liebert in the Ultimate Poker Challenge Kathleen (Kathy) H. Liebert (born October 1, 1967 in Nashville, Tennessee) is an American professional poker player. ...
Howard The Professor Lederer (born in Concord, New Hampshire), is a professional poker player and brother of poker professional Annie Duke. ...
Erick E-Dog Lindgren (born August 11, 1976 in Burney, California) is an American professional poker player. ...
Maciek (Mike) Gracz (born 1981 in Warsaw) is a Polish professional poker player, based in Raleigh, North Carolina. ...
Mike Schneider is an American professional poker player. ...
Additionally, there are play money tournaments, but the offerings are not nearly as extensive as the real money tournaments and mostly consist of single table events.
Every player is limited to playing up to twelve tables simultaneously.
Split with "Skin" Partners In its early days, PartyGaming entered into several marketing partnerships that allowed companies such as Empire Online to share in a common pool of poker players. Players could access the PartyGaming network either through the PartyPoker.com software itself or through the software of one of PartyGaming's "skin" partners. Empire Online is an online marketing company traded on the London Stock Exchange under the symbol EOL. The company promotes multiple online casino, poker, and bingo properties. ...
In mid-2005, PartyGaming made various moves to ringfence its own players from those of the "skin" partners. The company began to explore mergers, buyouts, and other options. In October of that year, PartyGaming launched an upgraded PartyPoker.com software system that cut off the "skin" partners from the main pool of players, and left the "skin" players on the old system.
In November 2005, offer discussions with Empire Online were terminated, and on 6 December 2005, Empire Online confirmed that it had started legal proceedings against PartyGaming in the High Court of Gibraltar. On 14 February 2006, the two companies announced a US$250 million settlement deal; PartyGaming agreed to acquire Empire's "skin" operations, and Empire dropped the suit.[2] December 6 is the 340th day of the year (341st in leap years) in the Gregorian calendar. ...
2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...
February 14 is the 45th day of the year in the Gregorian calendar. ...
For the Manfred Mann album, see 2006 (album). ...
PartyGaming also acquired the operations of former "skin" partners IntertopsPoker and MultiPoker, in separate private transactions for undisclosed amounts.
In December 2006 the company announced it was acquiring the remaining assets of Empire Online.[3]
PartyPoker.net PartyGaming operates PartyPoker.net, a free site that, when PartyGaming offered real money gaming in the United States, was advertised on United States television as "the world's largest poker school" due to restrictions of directly advertising gambling sites. Prizes are offered for winning tournaments on the site. Although no money is exchanged, an age limit of 18 (or 21 in some states) is still enforced. Players on the .net site play the same games as players playing the free games from within the PartyPoker.com software client.
iGlobalMedia software In the 1990s, Las Vegas consultant and actuary Michael Shackleford ran a computer trial of the first blackjack and roulette games offered by iGlobalMedia. Shackleford stated that the "results clearly showed they (the games) weren't fair. Jon Mendelsohn acknowledged that the chances had "tipped too much toward the house", but attributed the problems to "software flaws", not rigging. It led to the development of their own proprietary software rather than using external platforms.[4] There was no reimbursement to the players iGlobalMedia allowed to play the unfair games. Michael The Wizard of Odds Shackleford (born in 1965 in Pasadena, California) is a professional actuary and an Adjunct Professor of Casino Math at the University of Nevada, Las Vegas. ...
US players On September 29 2006, the U.S. Congress passed the Safe Port Act. Senator Bill Frist successfully lobbied to attach unrelated anti-gambling language to the act; this language is known as the Unlawful Internet Gambling Enforcement Act. September 29 is the 272nd day of the year (273rd in leap years) in the Gregorian calendar. ...
The Security and Accountability For Every Port Act of 2006 (or SAFE Port Act, Pub. ...
William Harrison Bill Frist, Sr. ...
On October 2 2006, PartyGaming announced that it would "suspend all real money gaming business with US customers" in light of the passage of the Safe Port Act.[5] George W. Bush signed the act into law on October 13, and PartyGaming suspended offerings of real-money games to U.S. players. Free play games and non-US customers were not affected.[6] October 2 is the 275th day of the year (276th in leap years) in the Gregorian calendar. ...
October 13 is the 286th day of the year (287th in leap years) in the Gregorian calendar. ...
As a result of this news being released to investors, PartyGaming's publicly traded stock dropped almost 60% in 24 hours. The company was moved from the FTSE 100 to the FTSE 250 Index on October 11.[7] The FTSE 250 Index is a capitalisation weighted index of 250 companies on the London Stock Exchange. ...
October 11 is the 284th day of the year (285th in leap years) in the Gregorian calendar. ...
Notes - ^ Forbes: PartyGaming's Dikshit quits board
- ^ Globes Online: Empire Online reaches settlement with PartyGaming
- ^ Guardian: PartyGaming to acquire Empire's online assets
- ^ Los Angeles Times: Woman Billionaire Made Fortune Selling Vice on the Internet. Published November 27, 2005
- ^ PartyGaming: United States Legislation (PDF file)
- ^ Life Style Extra: PartyGaming Suspends All US Gaming Activities. Retrieved 13 October 2006
- ^ The Guardian: PartyGaming drops out of FTSE 100. Retrieved 9 October 2006
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