Peorth is the letter P
Anglo-Saxon Rune Poem (from ragweedforge.com)
Peorth is a source of recreation and amusement to the great,
Where warriors sit blithely together in the banqueting-hall
Just to expose another variant interpretation about this rune, I left the format that in most books about runes, they show as the stanza for Peorth. As the meaning of the word itself is contested and debated, it was left un-translated, so each person could give their own meaning.
To myself, Peorth is the Dead, those who have passed on and left the world of toil and trouble for realms filled with recreation, amusement and ease. The question of where you end up and when your time to go there, is one of chance, unknown to all who do not dwell in those realms. When I see it reversed, it shows me the open gates of the afterlife, but they are pulling things in, not letting them out. It occurs to me, this might be a rune indicative of dreams, the method most often described of interacting with the deceased, and perhaps through dream, you might enter into contact with the seemingly shadowy realm.