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tjp
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06-21-2005, 09:22 AM
Post subject: Worrying thought about Party Poker going public
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#1 (permalink)
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Join Date: Apr 2005
Posts: 50
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If party poker goes public and floats on the London stock exchange, the auditing requirements for the company will become more stringent as it will be a Public Limited Company under UK durisdiction. I'm wondering if UK players will see a change in the law and the possibility of being taxed on winnings the same as in the US.
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ChezJ
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Full House
Join Date: Oct 2004
Location: Washington, D.C.
Posts: 1,456
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it's no longer a question of "if" but "when"... next monday!
http://www.reuters.com/newsArticle.j...toryID=8841483
PartyGaming plans to go public by June 27 in what promises to be the London Stock Exchange's largest IPO in four years.
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whileone
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Flush
Join Date: Nov 2004
Posts: 306
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I set up an etrade account and tried to buy EOL.
It turns out you can't buy on a forign exchange through etrade, unless they have some sort of special setup (being so new, empire dosn't have that setup). so, I call a broker, and eat the $45 so I can have them buy the stock. No trades alowed for the first 45 days. 
I'm thinking i'll close the us.etrade.com account and open a uk.etrade.com account. they ought to let me buy some frickin' stock. I'll have to file a w9 with etrade and the irs apparently or they keep 39% 
anybody actualy set up to buy UK stock?
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Noooooooooooooooo!!
--Darth Vader
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Gatlin Dan
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Flush
Join Date: Nov 2004
Location: Wild Bill's Backyard
Posts: 504
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Playing on party poker has to be way more lucrative than investing in it. Just cause it's a publicly traded stock that happens to be a poker company, doesn't mean it's a good investment.
Are there any independant certified financial advisors out there recommending this? Risk:Reward ratio seems shitty.
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"A lot of fortunes are made on what you don't play."--"Miami" John Cernuto
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Red_Squirrel
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Join Date: Jun 2005
Posts: 10
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Anyone have information on the likelihood of the UK seeing tax laws introduced on gambling wins? The popularity of poker has grown exponentially over here, particularly with the introduction of a poker channel for digital/cable TV and some events televised on terrestial so maybe the govenrment will step in with "Hang on we can make some money here"?
Thoughts? I love the tax-free system 
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Legendash
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Full House
Join Date: May 2004
Location: Crypto 6max 100NL
Posts: 611
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Well they only removed the tax on it a year or two ago and they knew exactly how much they were losing by doing it, they're not going to bring it back just because poker gets popular.(I hope)
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"[This theory] is only useful for helping to calculate your luck odds. If you have a good read that you have a numerical advantage against your opponent, that your hand is "luckier"..."
Copyright, Youngdro 2007.
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