A party involving many or one keg. Either can be a party with admission (everyone pays per cup or at the door for a bracelet) or a free party put on my a host who buys it
A party in which ketamine, ecstasy and GHB, K-E-G, are available instead of alcohol. The term is used in conversation around those not in the know about what kind of party you are really talking about.
"I'm gonna get goofed up, roofed up and drop inside a dark black hole at the KEG party!"
"I'm glad I brought my sunglasses to the KEG party."
An situation which is generally in MMO/RPG's where the gameplay is based on the consumption of Health/Mana/Status of your Choice potions or the players find themselves with an excess collection of potions to the point where they could hold a Keg Party, invite all their mates and imitate a Beer Keg Party.
"I got so many Health Potions left over we could throw a Potion Keg Party, invite our entire guild and get wasted!"
Utility beer is the beer you keep around for the day-to-day moments when beer is a necessity to assist in pedestrian activities (golf, plumbing, yardwork, babysitting, staff meetings, Zoom calls). For the beer snob it is the beer you save for neighbors when they drop in at 3 p.m. on a Tuesday. It is differentiated from the actual high-end beer you save for special events, holidays, and special tastings.
Person 1: Dave, did you bring along those hazy craft IPA's so we could drink while cleaning Lyle's pool?
Person 2: Nope. I just have a bunch of utility beer that Steve dumped on me. Good enough for this. It is only 10:30 a.m.