Reduction In Force

[777sizzler]

Just heard today that this past Wednesday IGT Laid off 340 people!.  -ouch- .

[opman]

It happens!

[jay]

Their stock took a major hit as well when they provided guidence that they would not meet their numbers.
I am thinking of buying - anyone here got any advise for/against

[ricker]

Jay, here's my 2 cents
I made lots of money on IGT, but that was before the Tribal casino's rise. Many more machines were sold during those times and they had a good share of the market. Sadly, competition has crept in and until there is a great demand for machines, as before, there main income will be replacement machines, but with a slow economy, casino's are keeping machines longer and not replacing at the same rate as the boon days.  Just my opinion.

My advise is to invest in company's you like(like IGT) and to stick with most of the vices. Gambling, tobacco, liquor, sex. Near future toys, gadgets,(things peeps will have to have, yet not avail. today). Legal online gaming will be big.
 
Richard
 
 

[UNIMAN]

What I have read is IGT is putting some of the blame on casino revenues in the last quarter due to the bad winter. IGT has more and more machines on casino floors in a profit sharing agreement. Slot games get old so quick casinos are less likely to buy and more likely to get into profit sharing.
All gaming manufactures took a hit from IGT's news. Might not be a bad time to look at Bally stock too.

[jay]

I have shares of LVS that have been doing well for me. They are anti-online.
I want some exposure to online. My conjecture is that there will be a million and one online casinos.
Consumers will want a branded online game that they are familar with....vs something random.
I do however think that there will be a lot of $$ spent on litegation protecting the brand.

[jay]

LVS dipped below $75 today - I bought in....closed 75.26....
IGT crashed at 13.31 for a 52week low, I watched it creep up over the last two weeks to 14.76 ... I put a buy in at 13.55 which I didn't think would trigger... closed at 13.45......
I am up 0.16c net.....  now only if I had 200,000 shares of each... that might mean something.... LOL

[CVslots]

Ricker's theory of sticking with vices is solid. While I have shares of IGT (@ 14.76) and other solid plays, I also have a up and coming vodka company, and I also play with the MMJ (Medical Marijuana) stocks. Almost all the MMJs are penny or sub-pennies, but you can't deny 300-400% runs! Some sleep, fall, or just trade sideways for months, but when they go, they GO BIG and FAST! It's nothing to see a 25-60% gain in a day, but I'm trying to refrain from day-trading (because I would quickly become addicted).


Oh, and here's a new one Empire Global Gaming...(EPGG). They mention slot machines under development, but all I see right now is Roulette, a new Dice game (20 sided dice?), and playing cards.


Roz 


Edit: I wonder how many members dabble or invest? Do I foresee a New Board on the Other Hobbies Forum? 

[jay]

There could easily be a million and one slot coders out there. I wrote a craps program for my grade 11 computer project.
The question is will the public trust them. IE I create Jay's online casino - if I use IGT machines which might be a simple link from IGT Bally WMS etc, then I create a trust factor. The reason people play poker etc in a casino is to get an honest game.....
 Just think of all the Cherry Masters. If I see any of these things in bars who knows how they are set,.
Regarding investing I have invested in PHOT and TRTC both have more than doubled for me.

[CVslots]

Regarding investing I have invested in PHOT and TRTC both have more than doubled for me.

Yep!    I also enjoyed the MJNA ride from last summer...currently, STEV has my attention (and a bit of my funds). It's all in good sport though. I never invest more than I can stand to lose.