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  #161  
Old 10-09-2005, 06:07 PM
Synergistic Explosions Synergistic Explosions is offline
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Join Date: Jun 2004
Posts: 391
Default Re: PartyGaming Press Release

Mikes a genius. He figured out how to get back all the players that left for rake back. Plus he made sure Party would offer those players rake back also. So the players stay happy.

Plus he got Party to offer ten tabling to make sure the players can still play the number of games they are use to.

Mike O'Malley couldn't defend himself from attacks, but I know he has done nothing but represent the high volume player for Party in our best interests. Thanks Mike O'Malley.

PS Please let me win the name the table contest.
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  #162  
Old 10-09-2005, 06:16 PM
Jurollo Jurollo is offline
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Join Date: Mar 2004
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Default Re: PartyGaming Press Release

Side bets and intergrated deal making, to me this seems pretty cool. I won't panic yet, I will give them a chance to prove this could work first.
~Justin
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  #163  
Old 10-09-2005, 06:23 PM
Voltron87 Voltron87 is offline
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Location: checkraising young children
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Default Re: PartyGaming Press Release

[ QUOTE ]
Mikes a genius. He figured out how to get back all the players that left for rake back. Plus he made sure Party would offer those players rake back also. So the players stay happy.

[/ QUOTE ]

yeah if this works out like i think it might party will have played it like geniuses, and i will be better off as well.
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  #164  
Old 10-09-2005, 09:00 PM
A_PLUS A_PLUS is offline
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Join Date: Aug 2004
Posts: 44
Default Re: PartyGaming Press Release

Im a little curious why we are all so suprised by this.

The biggest poker room online has a deal with some smaller poker rooms to share their customer base. They do this to expand their base, with someone else footing the advertising costs.

It backfires and most of their high volume players go through the skins and party gets a % of their action rather than the whole lot.

They know and understand why these players did it.
-They love the soft party games
-They love paying with rakeback.

They can easily look at the numbers and realize that the higher % of regular who switched to a skin, the worse the deal gets for them.

So, assuming their are a few intelligent people running party poker. Why are we suprised that this happened. Seems to make sense to me.
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  #165  
Old 10-10-2005, 12:53 AM
Educator Educator is offline
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Join Date: Feb 2005
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Default Re: PartyGaming Press Release

There is a lot of nonsense on this thread.

I am somewhat of an unwilling expert as I bought a fairly big chunk or Partygaming when it was first sold in the US. I knew the business, and since Warren Buffet is a smart man and says invest in what you know, I bought. I know how important it is for there to be many players on a site and Party was the dominant site and I also thought it was reasonably well run. I knew the business could never keep growing at the same rate it had in the years since Moneymaker won the World Series, but I assumed anybody with half a brain knew that and a slowing of the growth rate would not freak people out like it did. I was wrong. There were also a couple of other issues that left a bad taste in my mouth. Before they went public they posted an earnings statement, but they never mentioned that they were paying off a $750m loan that they had made to themselves to buy what appears to be the company that supplied the software and servers, which they of course already owned under a different name. This gave them a chance to extract money through a different path than selling stock and had the effect of lowering their previous years and first 'public' quarter earnings substantially. However, this is almost completely or is completely paid off (they are taking in huge amounts of money!!!) so the next earning should look dramatically better even if they don't grow at all.

With respect to the skins, they said they were going to dump them and that they found it a horrible business model even before they went public. Party doesn't give rake backs, but I got $200 for signing, another $150 two weeks later for making another deposit, and a month later was offered another $100. Given the amount I am playing it seems it has to be a better deal than if I was getting a 30% rake back. (I never play more than two games as my earnings seem to go down with more than that as I lose too much from not knowing who should be called, but this is a personal decision). I can understand why multigamers might suffer and while it is true that you are important, like unpaid props for the site, you are probably still a relatively small percent of their business. They probably feel it is better to use cash to generate new player than to keep you kids happy. They are also interested in expanding their casino operation as this is less cyclical and more profitable and they have the capital and means to expand into a business arena which now has high barriers to entry. That is the reason for the blackjack and the sidebets and the eventual direct connection to the casino. All of these things are not so good for the professional poker player, but not being good for you is not their principal concern. I have seen brick and mortar clubs increase the rake by going from time collections to a drop, institute jackpots and do all sorts of things that aren't good for professionals and end up only increasing their business.

I assume they are quite sure this will be good for them, though of course they could be as wrong as I was when I bought their stock, but thats horseracing. I am also sure they care what you think but not enough to continue with a business model they have known for a long time was not good for a big company in their market position.

Good luck to you all.
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  #166  
Old 10-10-2005, 03:42 PM
Jim Morgan Jim Morgan is offline
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Join Date: Apr 2005
Location: SF Bay Area
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Default Re: PartyGaming Press Release

Putting BJ and side bets on poker sites is a separate issue from the split. They just happen to be taking place at the same time.

I think the Skins getting screwed. It seems like they were paying good money to get the software AND the player base.
I am guessing some lawyers are going to be very busy trying to find a way to stop this. It may be legal, but it certainly seems like it is a pretty dirty way to do business with the Skins.

I believe that it is a TERRIBLE idea for poker sites to put blackjack and other gambling so 'in your face'. It may or may not hurt the games or erode the player base, but it is still a very bad idea.

Internet gambling in the US is not a given for now and eternity. Frankly, I am surprised there has not already been a crackdown of some sort. LOTS of US dollars are flowing overseas and the bible thumpers (who are rapidly taking over) just love to burn a few witches at the stake to justify their existance.

If poker is to set itself apart from other gambling, it needs to do exatly that.

Jim
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  #167  
Old 10-10-2005, 04:43 PM
warlockjd warlockjd is offline
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Join Date: May 2003
Location: Indianapolis, IN
Posts: 165
Default Re: PartyGaming Press Release

[ QUOTE ]
Quote:
--------------------------------------------------------------------------------

Listen, this is pure and simple a bad idea for Party and its stock-holders, give it some time and this will clearly be shown to be the worst piece of financial mis-management in the history of the world.


--------------------------------------------------------------------------------



I don't want to exaggerate, but you might be the dumbest person since the Big Bang.

[/ QUOTE ]

You should read his political posts
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