JS -Why do you worry about what others think? their opinion should mean nothing to you. You have been here a while, done your DD, and you have your own opinions and personal investment goals. What else is there?
We have had posters here that post hyperbole both positive and negative. We can agree or disagree and state why in a reply if we choose to....but at the end of the day most of it is just wasted bandwidth.(including this post LOL)
Exactly. You have to question if the $2 million charge they took on the move was worth it and if they would have been better off just selling the business.
An analyst would call the chip business non-core which means no benefit. The fact some are hanging their hat on this shows how disappointing the company is.
Not to worry though, it is perfectly fine that our CEO spends most of his time working for MPEL in the Philippines.
We need a full time CEO or we need the company to be sold. I'll take $2 a share.
What will drive new Chip business?
IMO...It will take EGT's ability to sell to NON MELCO-Affiliated casinos . We have just about milked the brother-in-law cow dry. THE dominant casino chip maker in the world is GPIC. Of that there is no question. Until we can go toe-to-to with GPIC and WIN big deals in new markets that have no boardroom relationship to EGT or MELCO, the casino chip business will slow down to a trickle. We have already gone through nearly every property that the Ho family is affiliated with and even THEN, GPIC was able to capture some of the business.
From Last 10Q: "For the three-month and six-month periods ended June 30, 2013 and 2012, in the gaming products segment, the largest customer represented 59% and 43% and 37% and 38%, respectively, of total gaming products sales. "
I wonder who that single "largest customer" is? Sands? Wynn? MGM? Harrah's? Somebody else?,,,,,hmmmmm who could it be?
I have to ask the question, "without the automobile/medical plastics business to prop them up, can EGT/Dolphin be a growing profitable significant contributor to EGT's bottom line based on reorders alone?"
I think not.
What are your thoughts?
Company did $1.9M in chips revenue in December 2012. $1.4M in first qtr 2013. Move to HK in the second qtr. $2M this 3rd. Is it not possible to do back to back $2M in the future? City of Dreams Manila will probably be booked first qtr of 2014 if it opens middle 2014. That will probably be close to $2M since it is bigger than Solaire which ordered $1.4M. The fact that they moved chips ops in HK shows that it is an important growth business. Doesn't make sense?
Isnt it funny that everytime anyone has a positive post they recv. a thumbs down... wonder why such negatives bothers stayin on the board.. [shorts?].. so ignorant and petty. bet anything the #$%$" gives this one a thumbs down.... go for it...... earn that label
Your opinion re future chip/plaque business ?
" " " " WHAT factor(s) will drive consummation of new chip/plaque business ?
It is good he reinvested, but I think that he should of kept the investments to a limit to keep the eps in the positive ... I think it would attract more investment , -08 isnt that attractive to new blood.. do you agree or do you think it was better to let the price drop that low and if so why. I always like new points of view; its refreshing to actually have positive imput.
Im holding a bit over 75k shares @ pre split .22/.23...... had around 300k before the split. I started buying about 7 years ago at 1.40 before the drop in 2008 then at .08 I DCA to = .22 then bought a few more here n there..... for the very last 40 shares I paid $3.90+ a share during the I-hub hype [but not caus of it] ,so my average now is .about .88 each and Im in the hold mode. I have a really good feeling about this company... all my shares are sitting in a roth IRA so when it flys it will be that much sweeter not having to pay taxes on it. patience patience patience it WILL happen payday will be sweet.... yes it will
Why would you assume 2M in chip bussiness per quarter going forward based on ONE quarter's production when this company has NEVER demonstrated a history of back-to-back 2M Quarters in the chip business, that does not make sense.
the downturns of last quarter have not been an issue this time around and earnings should reflect it ... you might be very well rewarded for buying those cheap shares good luck
Clarence mentioned a $2M order this 3rd qtr. Assuming a normalized $2M order per qtr with a conservative 20% net profit. Chips business will bring in $0.05 a year in eps alone. Chips are like currency. They need to be replenished on a periodic basis so there is repeat business. markets include Australia, PI, Cambodia and biggest Macau.. Thank you again for the cheap shares short sellers!
poofie, there is no need to resort to insults. I didn't cause the stock to drop, those who bought into the hype did. It's ok though, Clarence very, very good man...... for Lawrence Ho. He knows where his egg roll is made.
The enterprise value / normalized ebidta multiple is so low that their is a lot of cash to invest relative to the stock price. Its a 3x cash flow stock with 20% long term revenue growth and a great balance sheet. Not a lot of stocks on that list.
Clarence is a brilliant silent CEO. City of Dreams Macau, Manila and Dream World aren't coincidences. The company actually reinvested its earnings from Naga to these new projects. Without those new investments and if the company held on to the $12M as cash would have been $0.40/pps. Still the stock dropped to a low of $1.14. It was too good not to buy more at that level.
I tend to agree with you as Rome also was not built in a day... Clarence is not stupid as a few unnamed persons on the board would have you believe. Iv been here a real long time and am patiently waiting for payday . This company is positioned well in the right place at the right time. Indo china is a up and coming market and we are just now emerging out of a world wide downturn.. I expect the next few years will show the fruits of our patience. Hang in there, as the world economy gets better, so shall our profits, and so shal our pps...... theres no rush.... good things happen to companies that stand the test of time, and its stockholders.
EGT has invested over $12M on trying to find growth (poipet, pailin, chips move to HK) this past year and a half. It hasn't been an instant hit as everyone was expecting. Being a long time investor i still believe in the stock. With $5M and no debt at present compared to no poipet nor pailin a year and a half ago with $6M debt with $10M in cash. The company is now in a good position to capitalize on its investments. I feel it will greatly benefit from its relationship with Melco by bringing business its way via chips or EGMs.
I bought more lately as the shares are back to $0.30 pre-split. It was prudent to sell some shares when it rose too quickly. Don't buy into the negative posts of cnointrovert. He lives a miserable life based on the negative comments he writes.
the company is faced with the potential loss of Naga, their biggest customer and the CEO is working for another company and you think that is ok? No wonder Ihub suckered so many people. You ever hear of the label of sheep?
People who think Clarence working hard for MPEL in the philippines instead of EGT are probably the same people who think Obama is doing a great job.
MPEL is also a bug customer, so maybe he's lining up some chip & equipment orders - LOL. I think the company will rebound from some of the one time problems that hit them in Q1 and Q2. If they put up some better numbers in the next few quarters. No one will care about the CEO's work schedule.
Paul, has CNO been wrong? I for one see him being the only one who has called the decline, even arguing why the company was not worth more than $50 mil. I sold out at 3.85 because of him so don't be thinking I would agree with you.
no paul, try to pay close enough attention and take your ADD pills. I said many, many times that I have a core position, bought under a quarter a spare pre-split and have traded the stock 12 times.
You seem to not want to realize that I don't really post anything anymore unless one of Ihub's minions posts their stupid, buy now $6-$8 stock soon that even someone like you would realize is not going to happen or you ramp this up again.
The difference between you and I is I am straight forward. I have always said the same thing, I am here to make money and if IHub can help me do it, when I have a trading position, more power to him but when he out and out lies and says he is buying 500,000 shares and the stock sinks 30% every day for 2 weeks on 50,000 shares of volume, I will call him out on it. When someone like you criticizes others, tells me and anyone else who said the stock was overvalued at $5, 4, 3, and $2 and then sells the stock 50% below where he said the stock was going higher, I am going to question your posts.
Sorry about that and if you want to call me a troll, thanks. At least I live in the most expensive troll house. If you think it is better to be wishy washy like you than be forthright and honest, more power to you.
Let me ask you this question since it is the real reason why EGT is in the shape that it is in, do you think it is right that EGT's CEO is spending the majority of his time working for MPEL in Philippines? Do you think that makes this stock worthy of investment?