..

PartyGaming Share Price Shoots Up 11.4% on News of Full Tilt Poker’s Like Demise

Written by:
Aaron Goldstein
Published on:
Jun/29/2011
PartyGaming

Following news that Full Tilt Poker, the world’s second largest online poker company, had its license yanked Wednesday afternoon, PartyGaming’s share price shot up to 148.20 on the day or 11.43 percent.

PartyGaming is home to the third largest online poker room, PartyPoker.  Investors may have sensed an increase in business with Full Tilt Poker players in Europe and other parts of the world now without a home.

The Alderney Gambling Control Commission (AGCC) suspended Full Tilt’s license under increasing pressure from the US Justice Department and players Stateside who are yet to be paid after more than two months of waiting.  US law enforcement indicted Full Tilt Poker and two of its executives on April 15, freezing accounts and charging both men with money laundering and bank fraud. 

The AGCC said in a statement this morning: “The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney General’s Office in the Southern District of New York on 15thApril 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation."

The FTP site remained down heading into Thursday with a notice that said they were “down for maintenance”.

PartyPoker indeed appeared to be benefitting from Full Tilt’s closure already on Wednesday with “real cash” traffic up 3 percent according to PokerScout.com

- Aaron Goldstein, Gambling911.com Publisher

Business/Financial News

Jeff Ifrah: US Regulators Odds-On to Approve In-Game Tokens

Jeff Ifrah: US Regulators Odds-On to Approve In-Game Tokens

On this week’s CoinGeek Conversations, we spoke to the Founder of Ifrah Law, Jeff Ifrah as he discussed NFTs, possible US regulations in the Gaming and Cryptocurrency industries.

The Bitcoin White Paper: Timestamp Server

The Bitcoin White Paper: Timestamp Server

Continuing to review the series of dialogues between Dr. Craig S. Wright and Ryan X. Charles, where they discuss the Bitcoin White Paper line-by-line, we come to the section concerning the Timestamp Server. Dr. Wright is the inventor of Bitcoin and the Chief Science officer at nChain while Ryan is the founder of Money Button. 

The Bitcoin White Paper: Stealing Bitcoin

In the video discussion about the second paragraph of the Bitcoin white paper between Dr. Craig S. Wright and Ryan X. Charles, the topic of honesty arose with regards to nodes and the security of the system. While there are a number of security features built in to blockchain, the idea of a rogue or criminal node stealing transactions is thwarted from an economic standpoint.  

The Bitcoin White Paper: Proof of Work and Network

The Bitcoin White Paper: Proof of Work and Network

In a series of YouTube videos, Dr Craig S. Wright and Ryan X. Charles discuss the Bitcoin white paper line by line. Their discussions both clarify the original purpose and intent of Bitcoin as well as inspire additional thoughts about and future uses of it. Having the creator of Bitcoin explain it in his own words certainly clarifies some of the areas that have been misunderstood by many for a very long time. 

The Bitcoin White Paper: Part One

The Bitcoin White Paper: Part One

Who better to discuss the nuances and mapping of Bitcoin with than the creator himself, Dr. Craig S. Wright. That’s exactly what Ryan X. Charles was able to do in an interview discussing the Bitcoin white paper, line by line. It was an opportunity to share with the world in an open discussion Dr. Wright’s creation and vision. Let’s take a look at some of the takeaways from that interview.

Syndicate