At Party: January 2005 sign-ups, less than 30% still play there(+more

[grinin]

I think Dikshit and whoever his advisors are were geniuses in their timing of the IPO. Their only mistake was not to sell 49% of the company and net 2 Bill instead of 25% and 1 Bill.

We probably are going to see a couple things in order to placate the new minority owners. I think the rake increase in short handed was one. It is an immediate increase in profitability. Unfortunately for us there will be efforts to increase Party's profitability across the board. Fortunately, there will also be increased effort to bring in new players.

Games will get tighter and more difficult to beat as the growth of the industry slows. Fewer TAGs will be profitable and will get "real jobs". As the growth rate stabilizes there will become an equilibrium of TAGs who will be able to beat the game and new fish arriving daily to support them.