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Edwards Lifesciences Corp. Message Board

kidecar 108 posts  |  Last Activity: Jul 29, 2014 11:50 AM Member since: Sep 19, 1999
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  • "...After decades of political mismanagement and civil war, Cambodia has recently begun to capitalize on its economic potential. Since adopting free-market economic policies in the 1990′s and increasing its integration within the international community, Cambodia’s economy has flourished. From 1998 to 2007, Cambodia’s GDP growth ranked sixth in the world (9.8%) and fastest in the Far East after China. Cambodia’s continued upward trajectory will be driven by several factors. Cambodia is resource-rich with newfound offshore oil and gas deposits in the Gulf of Thailand and mineral deposits in the northern provinces. Tourism is also growing quickly, as Cambodia is home to pristine beaches, world-class cultural relics (Angkor Wat) and a burgeoning eco-tourism sector. Cambodia also benefits from a young and cheap workforce, and a growing middle-class....'

    SOURCE; website

  • From GGRAsia Article dated 7/24

    "...Credit Suisse says some current site work at NagaWorld was likely to have had a short-term negative effect on the resort’s electronic games business.

    “We estimate the EGM [electronic gaming machines] business (target mainly local market) to see slower growth in [the first half of 2014] due to the business interruption by construction work of NagaCity Walk (reduced footfall) and renovation of a new EGM hall,” stated the Credit Suisse note...."


    The question is who will get the contract for the Naga "EGM Hall"?

  • Reply to

    mgmt pt 2

    by jssurfer Jul 21, 2014 11:42 AM
    kidecar kidecar Jul 21, 2014 12:16 PM Flag

    Mangini's email sounded like a auto-reply from Charlie Brown's teacher,

    "Whaaa whaa wha wha whaaaaaa wha whaaa"

    In the nREAL WORLD, the clock is ticking and the deadline will come around if EGT Management does nothing more than "examines all possible options" and the stock is delisted, or they actually take some well thought out effective strategic action, or they resort to a last-minute, last-ditch, Oh #$%$, hail-Mary action like another R/S.

    Might as well order one more box of popcorn because we don't have much longer to wait before we find out how this movie ends.

    On with the show!

  • Reply to


    by shufflewatcher Jul 16, 2014 6:55 PM
    kidecar kidecar Jul 21, 2014 9:20 AM Flag

    There's "buddy-buddy" and there's "business". When it comes to a 10s of millions of dollars over the life of the contract, you don't have "Buddies" in business - only Partners. The high bidder will win the contract. I just hope that the high bidder is EGT.

    Re: delisting I was shocked that it was not acknowledged in the last CC. Well come October if the problem is not resolved, they will have no choice but to admit that the Emperror has no clothes.

  • Reply to


    by shufflewatcher Jul 16, 2014 6:55 PM
    kidecar kidecar Jul 20, 2014 10:28 AM Flag

    JS -

    We only got a pitiful 500K total back on the deal. The buyer paid 100K up front, and will (hopefully) pay sixteen $25,000 monthly installments commencing within one month of the signed agreement. Are you are suggesting that EGT buy 15K-30K shares a MONTH (@.75-1.5/share PPS range) for 16 months? I don't think that it is enough volume to make a difference and the way that the stock has languished, over the past few years it is not and attractive ROI. To be honest, I am still not sure that Management will come out of their coma in time to keep us from being delisted in 80 days. I would rather have them pay some of that $$ to an investment bank and get some analysts covering (and pushing) EGT stock to get the PPS above 1.00 so we do not get delisted in the next 3 months.

    We are going to need to save up ALL of our pennies because when the Naga contract comes up for renewal in 20 months it is going to cost us a TON in guarantees/commitment fees to ante up for the next deal. The revenue stream is proven and there is more competition in this market now, and some of those guys have deep pockets. Naga represents about 65% of our gaming revenue and has kept this company afloat to whatever degree is is 'floating'. However the Nagaworld contract renewal deal goes (up or down), so goes EGT. If a competitor could pull this contract out from under us, they would not only win the jewel of Cambodia, but could probably also buy our other venues at firesale prices as we go into BK in the year that follows. A Win-Win for them and a fatal blow to us.

  • Reply to


    by shufflewatcher Jul 16, 2014 6:55 PM
    kidecar kidecar Jul 19, 2014 11:45 AM Flag

    I guess it is all in how you view things. You see the reaction, I see the cause

    You say, Saved the company from bankruptsy. I say drove the company to the edge of bankruptsy and sold it for pennies. The sale process bloated the number of issued shares to point a level where the company would have to fight just to show ONE PENNY of EPS...which it finally has but ONLY after a reverse split and all options from the sale expiring worthless or being forfited by Melco/Elixir.

    You say, fixed manufacturing problems, I say released buggy products that had manufacturing problems and gave the company a bad name in the industry related to QC. The shufflers, chip counters and chip washers ALL ended up being sold to the #1 competitor for a net of pennies. The litigation expenses surrounding the shufflers amounted to significant lost revenue. That money copuld have been applied to debt or towards the purchase of revenue generating EGMs.

    You say put indirect distribution channels in place, I say that both the direct sales channels and the indirect (TCSJOHNHUXLEY) channels were ineffective or the company would have booked a profit at some point in its history...which it did not....ever.

    You say, it went from 1.34 to 4 in its time, but that 4 buck price was when all gaming stocks were rising on the Macau bubble. Those 4.00 shares eventually ended up as penny stock in a desparate last gasp fire sale.
    I *will* give VNX credit for getting licensing rights for High Freq. RFID and to a lesser degree the Dolphin aquisition. Dolphin (non-gaming sales) held this company's nose just above the waterline for several quarters in th past before the auto sector meltdown. Now the non-gaming pieces have been sold, the manufacturing moved to a new location and historically the gaming chip sales have been minor contributors to net revenue.

    VNX was unfocused in its direction, took risks that did not pay off, and did not generate enough profitable sales to survive. All of that = RIP VNX

  • Reply to


    by shufflewatcher Jul 16, 2014 6:55 PM
    kidecar kidecar Jul 18, 2014 10:21 AM Flag

    I am a little fuzzy on that VNX ancient history....So remind me again why the crack VNX management team sold VNX to Elixir for pennies + a bazillion shares of stock and options just weeks ahead of going BK and after running out of sources for life-support emergency bridge loans ?

    Kinda like asking, ....."Other than the shooting, how did you enjoy the play Mrs. Lincoln? "

  • kidecar kidecar Jul 10, 2014 10:18 PM Flag

    EGT gets a positive mention in Bangkok Post article re: influx of gamblers into Poipet...

    "...They are flocking to Poipet," according to Sungsidh Piriyarangsan, an expert on gambling at Thailand's Rangsit University.

    "There are nine casinos in Poipet and gamblers like to try their luck at different ones... It's hard to stop them from crossing the border although (Thai) authorities know why they go there."

    While there are no recent studies of what remains a controversial topic in the kingdom, Sungsidh estimates Thailand's illegal gambling sector to be worth anywhere between $9-12 billion annually.

    The money that flows into Cambodia and its casino operators is dwarfed by revenue in Asia's gambling mecca Macau, which hit a record $45 billion in 2013.

    But Poipet is growing amid a wider gaming boom in Asia over the past decade.

    Last year, US-listed Entertainment Gaming Asia opened the doors to a new $7.5 million slot machine hall in the border town.

    And in a town already geared towards its Thai guests -- World Cup odds are written in Thai and croupiers speak the language -- the casinos are flinging their doors open to exiled gamblers from across the border. ..."

  • Wife of Pailin Governor Reaps Benefits From Casino Deal
    By Simon Lewis and Hul Reaksmey | August 23, 2013
    Venturing into Cambodia’s casino market in May 2011, Macau-backed gambling firm Entertainment Gaming Asia (EGA) promised tens of thousands of dollars to the wife of Pailin’s provincial governor in order to lease land for the construction of a new casino, documents filed with the U.S. financial regulator show.

    EGA is part of Macau’s Melco Group but is registered and listed in the U.S., and therefore subject to U.S. laws and regulations.

    The firm officially opened Dreamworld Pailin in May 2012, a casino containing 26 live gaming tables and 58 slot machine seats that relies on Thai visitors crossing the border.
    According to filings made to the U.S. Securities and Exchange Commission (SEC), EGA in May 2011 signed a deal to build the first Dreamworld casino on land in Pailin rented from Ban Sreymom.

    Ms. Sreymom is the wife of Y Chhean, who has held the powerful local position of governor in Pailin for more than a decade and was the chief bodyguard of Khmer Rouge leader Pol Pot.

    Ms. Sreymom is herself the CPP lawmaker-elect for Pailin province, having been the winning party’s only candidate for the province’s seat in last month’s national election.

    The deal saw a new company, Dreamworld Leisure (Pailin) Limited, formed between EGA, represented by chairman Clarence Chung, and Ms. Sreymom, and included a cash payment to the land owner.

    “[EGA] will…pay BSM [Ban Sreymom] an [sic] one-off lump sum of US$180,000,” according to a shareholder agreement filed with the SEC in 2011.

    The May 2011 deal also stated that Ms. Sreymom would acquire a 45 percent share in any profits coming from the casino venture.

    But two months after the deal, EGA announced the parties had agreed to “favorably amended terms,” under which Ms. Sreymom would only get 20 percent of profits, but an increased rental fee of $5,000 per month.

    And now she owns it all..Imagine that...

  • kidecar kidecar Jun 27, 2014 5:37 PM Flag

    Can't wait to hear the justification for bonuses at the end of the year.

    I just LOVE a good comedy routine.

  • 6/27/2014

    Nasdaq-listed Entertainment Gaming Asia Inc, a company linked to Macau casino operator Melco Crown Entertainment Ltd, is selling its assets in Cambodia.

    The company is selling 100 percent of the issued shares of Dreamworld Leisure (Pailin) Ltd to Ban Kea, a Cambodian citizen, for US$500,000, it announced in a regulatory filing on Thursday. The purchaser is a family relative of Entertainment Gaming’s partner in Cambodia.

    The sale includes all assets of Dreamworld Leisure with the exception of all electronic gaming machines, and prohibits any use of the Dreamworld brand name by the buyer.

    The move comes as the government in Cambodia is in the process of amending its gaming laws in a bid to draw major casino operators.

    In the filing, Entertainment Gaming said it had been exploring strategic alternatives “due to an inability to secure a long-term third-party table game operator, [due to] a low level of natural player traffic and the political unrest in Thailand”.

    The company owns and operates Dreamworld Pailin, a casino with 26 gaming tables in the Pailin province of northwestern Cambodia, near the Thailand border. It also operates Dreamworld Poipet (pictured), a standalone slot hall in an existing casino in Poipet.

    Entertainment Gaming in January reported an impairment charge of US$2.5 million as of the end of December 2013 related to Dreamworld Casino operations, which represented the entire capital expenditure incurred as of that date.

    The parties said they expect to complete the deal within the next few months.

  • kidecar kidecar Jun 23, 2014 11:10 PM Flag

    The other side of the casino chip....(from GGRAsia article)

    ....The last time Thailand’s army took the reins of power in 2006, the junta imposed cross-border controls on capital movement. If that happens this time and the borders are also sealed to Thai nationals for more than a few days, it could severely inhibit the ability of players to take part in cross-border casino trips. Casino gambling is not legal inside Thailand, but many Thais visit border establishments in Cambodia, Myanmar and Laos for their gaming entertainment....

    Caveat emptor!

  • kidecar kidecar Jun 23, 2014 11:00 PM Flag

    We have 300 EGMs in Poipet what this means to me is that there is absolutely NO EXCUSE for EGT not to have a positive EPS in 3Q2014. Hopefully this will boost them over the 1.00 PPS and get us off of the NASDAQ sh*tlist for a little while longer...

    It also MIGHT be a good opportunity for a reasonably quick 20% pop. As always, do your own DD. EGT is both a casino stock AND an investment gamble. We have seen this stock swing quickly and significantly in BOTH DIRECTIONS and it could happen again (in either direction) with little/no notice.

    I'll say it again because it is more important than the news article, always do your own DD.

  • Thais swarm into Cambodian casinos to beat junta's betting ban
    Monday, 23 June, 2014, 3:25am
    Agence France-Presse in Poipet
    Desperate for a flutter during a junta crackdown on gambling at home, Thais are making a beeline for casinos in a seedy Cambodian border town - which has already been deluged by migrants also fleeing the kingdom.

    For over a decade Poipet, a scruffy, vice-ridden frontier town studded with casinos and online gambling booths, has lured customers from Thailand, where betting is all but banned.

    Casino staff in Poipet said the chips have been changing hands at an unusually fast rate since the Thai army seized power across the border on May 22.

    A junta blitz on organised crime has seen raids on underground casinos, dozens of arrests and access to a number of online gambling sites blocked.

    In its get-tough message to illegal gamblers - and any local officials caught in cahoots with casino operators - the army rulers cited the need "to safeguard the public and uphold social order".

    The warning brought a boon to Poipet's card tables, slot machines and 24-hour online gaming booths - key for live betting on World Cup football matches being played in Brazil.

    "We cannot play these games in Thailand now," 32-year-old Nan said as she laid a 100 Thai baht (HK$24) stake at a baccarat table at the Crown Resort Casino.

    "Police will arrest us ... the military has shut down illegal gambling."

    Thais can only gamble on their state lottery or at a handful of horse racing meetings, prompting punters to splurge millions of dollars each year overseas. Much of it funnels into Poipet, a four-hour drive from Bangkok, and the fastest-growing of Cambodia's casino towns.

    There are few available figures on the sums spent by Thais in Poipet in an opaque industry clouded further by the restrictions on both Thais and Cambodians gambling on home soil.

    But Cambodian government figures from 2011 showed gambling brought an annual tax b

  • kidecar kidecar Jun 21, 2014 1:17 AM Flag

    Nice return on your 60 bucks. So if you can turn 60 bucks into $72,600.00 over ANY time span, then what in the hell are you doing on *THIS* MB??

  • kidecar kidecar Jun 6, 2014 3:42 PM Flag

    JS -

    The question is ALWAYS this the best place to have my money so that I get the best return on my investment? It seems like the general consensus of the market as evidinced by the lack of significant MF and Inst investment (way to do absolutely NOTHING IR ), is a great big NO!

    If I just wanted to park money somewhere and not expect a return, I would put it in a bank savings account paying .5% interest + it would be guarenteed not to lose principal (up to 250K). At this point, EGT is not looking like a good investment for ANY timeframe. If it gets delisted you may get another chance to buy at .32 (= .08 pre-RS)

    Question: If you bought @ .08 and didn't sell @ 1.25 (all pre-RS prices) what is your exit target PPS?

    You have always been a reasonable level-headed poster so please don't say 6-8 bucks.

  • kidecar kidecar Jun 4, 2014 1:47 AM Flag

    Actually, thanks to iHub's hype I sold 1/2 of my position in the high 3s, covered ALL of my costs and banked a nice profit.

    |ihub, Come on back with the magic BS hype one mo time so I can sell the other half of this pig I'm tired of waiting for Clarence to get clearance from his Hos

  • This is going to be a longer decent into oblivion than I first thought. I was under the impression that 10/14/2014 was 'come to Jesus day' for EGT, but it looks like they could get a 2nd 180 day final chance if they cannot make the first cut...which is getting harder and harder to see them doing based on performance and PPS trend.

    From Phnom Penh Post online article 4/29/2014

    "...EGA has been given 180 days – until October 14 – to lift its share price from $0.87 to the Nasdaq’s minimum of $1 and must hold that price for at least 10 consecutive days, according to the April 23 announcement. If, however, the company fails to reach the target within this period, a second 180-day grace period may be granted before EGA’s stock could be delisted from the exchange...."

    Final Last Gasp Date: Sunday, April 12, 2015

  • Cambodian casino operator NagaCorp reported a 16% bump in Q1 gaming revenue but analysts are questioning the company’s emphasis on VIP gamblers. Unaudited results covering the first three months of 2014 show NagaCorp earned revenue of $76.8m, up $10.5m over the same period last year. Mass market table game buy-in was up 24% to $115.6m, electronic gaming turnover rose 10% to $273.2m while junket and VIP rolling chip drop was up 14% to $946m.

    NagaCorp operates Phnom Penh’s only casino, NagaWorld, where the company plans to add 63 new VIP tables this year. NagaCorp recently set up a marketing office in Macau in a bid to lure high-rollers to Cambodia’s capital and plans to introduce regular chartered flights between Macau and Phnom Penh. But Q1′s VIP turnover failed to match analysts’ expectations and has sparked warnings that NagaCorp is vulnerable to changes in the region’s casino landscape.

    Citigroup’s Citi Research division warned that any perceived slowdown in Macau’s VIP market would force junket operators to become more competitive, which would “threaten Naga’s strategy of targeting the ‘Poor Man’s VIP.’” Analysts at Morgan Stanley echoed these concerns, noting that regional competition for VIPs would intensify later this year following the opening of the Philippines’ second large scale resort casino, Melco Crown Entertainment’s City of Dreams Manila.

    Analysts also expressed concern over the future of NagaCorp’s mass market traffic, noting that any change in neighboring nations’ approach to casinos – such as Vietnam finally allowing its citizens to enter local casinos – could take a significant bite out of NagaWorld’s cross border traffic. NagaCorp is in the process of building the $369m Naga2 facility, which is set to open next door to NagaWorld in 2016, and is also building a $350m casino in Russia’s Primorye region, which isn’t expected to open before 2018.

  • That's the delisting date. We basically have 1 quarter (Q2) to get this pigs nose above the 1.00 PPS waterline. Given that we hit .69 yesterday (17.25 pre split) and two of the last six trading days were 1000 shares or less.....that is going to be a difficult task. By the time Q3 is reported, it will be too late, we will have already been delisted and MFs and Institutions will have bailed per their charters.

    Happy Memorial Day Weekend. This may be the last one we see on this Message Board.

92.88+8.44(+10.00%)Jul 30 4:00 PMEDT

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