| Posted by: The Original Mary at February 16, 2001, 3:39 pm | | Topic: Wager Works (Silicon Gaming online) in beta Forum: Winner Online |
An offer has been made of $6 million for Wager Works, and I thought I'd compare that to the market caps of some other Internet gaming stocks. Wow. Boss Media has a P/E of 87. Their most noted land customer to date is Sun International, which is trading below book. Go figure.
Cryptologic has a p/e of 9. Starnet has a market cap of $38 mill--and that's at one tenth the market price it had last year.
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| Posted by: The Original Mary at February 16, 2001, 1:20 pm | | Topic: Wager Works (Silicon Gaming online) in beta Forum: Winner Online |
I bought into Silicon a long time ago and watched it get diluted right from under me. I still think the product is terrific, just ahead of its time and also they didn't market within the established Vegas network of business connections. (Note: do not get Steve mad at you.)
Yep, that's the games. The Wagerworks site is for promotional purposes only, ery slick, and if you're going to play for prizes a stay at the Bellagio is ok by me!
Wagerworks is privately held. Rightn ow they have crossover contracts with Silicon for intellectual properties (games)I hoave no idea how that will work out going forward. There is also an Action Gaming machine ont he site, and they are an IGT partner as well.
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| Posted by: DaiLun at February 15, 2001, 10:57 pm | | Topic: Wager Works (Silicon Gaming online) in beta Forum: Winner Online |
If IGT purchases Silicon Gaming, part of the agreement is that Silicon Gaming will sell it's majority stake in WagerWorks, except for 4.9% share.
I held about 15K shares of SGIC, trying to make some quick money on the acquisition by IGT, but it's dragging out and if not done by end of May, the deal could be kiboshed by either side.
Don't know what this would mean for WagerWorks.
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| Posted by: Jetset at February 15, 2001, 9:56 pm | | Topic: Wager Works (Silicon Gaming online) in beta Forum: Winner Online |
It certainly swings from optimism to despair!
The first anti-internet gambling Bill in this 107th Congress has been launched by Senator Leach and has the potential to be effective in the US. It's the same one which the Banking Committee liked last year and attacks the payment of gambling debts - check this report out:
"Rep. James Leach reintroduced legislation on Monday that would declare illegal the use of checks, debit and credit cards to pay debts for or to receive profits from Internet gambling.
The bill, H.R. 556, is essentially the same bill that was passed last year by the House Banking Committee, which Leach chaired at the time. The panel has since been renamed to the Financial Services Committee.
This bill would "surgically remove" the means by which anyone in the US gambling on the Net could either receive profits or winnings or pay off their debt to an Internet gambling operation, said Leach aide Dave Runkel. "People just wouldn't do t... | | Read Entire Entry |
| Posted by: Dirk_Dangerous at February 15, 2001, 9:21 pm | | Topic: Wager Works (Silicon Gaming online) in beta Forum: Winner Online |
Silicon Gaming? Makers of the famous (or infamous) Odossey (Fort Knox) slot machines?
Why the US industry isn't throwing more weight behind online gambling is beyond me. I really don't see it for at least two years, and probably longer.
Dirk
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| Posted by: The Original Mary at February 15, 2001, 9:12 pm | | Topic: Wager Works (Silicon Gaming online) in beta Forum: Winner Online |
www.wagerworks.com is up and running in a "live beta". That means you can register and play the games, but your funplay points won't count for any prizes yet. It's a good chance to see what the Big Guns of Vegas can put together when they go online. These are graphically slimmed down ersions of games from Silicon Gaming and Action Gaming.
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