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Entertainment Gaming Asia Inc. Message Board

  • kidonthebeach kidonthebeach Feb 27, 2013 12:29 PM Flag

    ROBBED SHAREHOLDERS BLIND!!!

    I cannot believe what EGT management just did

    Dolphin--which has been a fast growing segment of the company was sold to management for a mere 361,000 dollars!!!

    THis company has the potential to be a major competitor to Gaming Partners International (GPIC) that prettymuch has a stronghold of the gaming chip and plaque market and (reported a couple years ago) had 70% of the world gaming chip market. Dolphin has grown from 756K in 9 months in 2011 to 3.2M in 9 months for 2012 and had orders for 1.9M for the 4th q as reported in the past quarterly release. And now the company sold it to management for 361K, will move it to Hong Kong where it will be statigically located to compete in the Asian Gaming Chip Market.

    To do a comparison: Gaming partners international generates 50-60M in revenue a year and has a market cap over 60 million. Dolphin with a fast growing revenue and managemetn last quarter said there were orders for 1.9M in for Dolphin for Q4, and there was 1.7M in revenue for Q3. This company which easily can bring in 6m in revenue a year (on an absolute lowball of a revenue estimate) and is growing rapidly is worth 361K? Even if you put the 1.7M moving expenses in with the 361K--it is still a low estimate.

    I bet GPIC would pay 10M for the company right now (and they have the cash) . This transaction is nothing short of THEFT!!! Shareholders you gotta wakeup. This management just cheated you!!!!

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EGT
0.7999-0.0001(-0.01%)Jul 11 3:34 PMEDT

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