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GTECH Holdings Corp. (GTK) Message Board

  • zincomez zincomez Aug 2, 2004 8:19 AM Flag

    Stock Split

    This stock is a bargain. The original split was announced when the stock was at 60. Now at 42 the split makes this very affordable to the small investor. Buy now and hold for two to five years.
    Remember, small investors, buy enough to make a change in your life style five years from now.
    King

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    • If the Caixa problem had been small, local, isolated and done without any involvement from RI HQ, GTECH would have tried to limit damage by explaining it as such with much more speed, clarity and possibly corporate credibility (the old "blame it on a few bad apples" approach). Now while $700 M in market cap has evaporated, the company is trying to walk a very fine line with their vague and incomplete explanation about what happened and what is happening in order to protect RI management, whose explanations will be bad either way when the full story comes out ("Yes, we were somewhat involved" or "No we weren't involved and we had no idea such a terrible thing could happen").

      In any event, GTECH is "cooked" long-term in Brazil as long as Caixa can figure out a way to get rid of GTECH without harming themselves in the process. Look for Caixa to eventually protect their self-interest by requiring GTECH to sell the existing fully-depreciated Caixa on-line system either directly to Caixa or a new operator designated by Caixa. That way, Caixa can buy some time and reduce the significant implementation risk associated with installing a new non-GTECH system. Nice opportunity for SciGames if they can handle the capital requirement and the political/legal nature of the negotiations (kind of like Camelot after the GBS/Branson thing a few years back). Can Alex, Terry and Steve pull it off?

    • Your right about the commute, Pennsylvania is a pain in traffic.

    • When you watch your companies stock drop almost daily, and for weeks, I think they get the idea something is wrong. 1 up day out of 5 for this week... But who's keeping score?

    • ...are you talking about our 20 minute traffic jam that we experience twice a day coming and going. Hardly a factor.

    • I think the Providence HQ delays has more to do with the upper management not willing to commute from the RI burbs to Providence every day. The traffic is a little brutal for people who have so far been able to drive to work in 5 minutes.

      That and using the HQ as a pawn in the political games with the RI and Providence legislators. Give us slot contracts, and we'll build 13 floors...

    • They must feel that there is financial liability re Brazil as they have twice moved back the start of constructing their building in Providence. In the paper today are some plans about the intended gardens, but they have gone from using 13 to 4 stories of the building. Some people feel the building will never be built, as they have leased space closer to the airport and have put a lot of money into it, more money than an occupant normally would, who had plans to move in the near future.

    • GTK already admitted of wrong doing by the senior VP some time ago. Depending on the outcome of the investigation will we know who ALL are at fault and what the criminal charges will be. Also depending on what is stated in the contract with Brazil, if GTK violated it in any way then they may very well be liable to pay back the Brazilian those hundreds of millions asked for in the law suit. I'm guessing the Brazilian have a good case because the Brazilian court recently froze GTK payments until the outcome of the investigation. I hate to say this but bribery is nothing new in the business world. Just don't get caught... However this is no excuse for GTK senior management because this mistake is a repeat. I wonder if all of them went through the Code of Conduct training yet? If they haven't then it's time to sign up... :)

    • ...said the spider to the fly!

    • Please explain to me how 2 shares at $21 are a bargain compared to 1 share at $42. I'm a little puzzled by your logic here.