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Non-Tech : SIMMD - Hot Casino Gaming Deal
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To: Whisperer! who wrote (33)4/15/1999 5:38:00 PM
From: THOMAS GOODRICH  Read Replies (1) of 80
 
Whisperer,

Thanks for the clarification. I did not take into account that the revenue stream was projected at 15% of gross wagers on average. $5 million USD per month gross revenue after 12 months of successful operation for a casino & sports betting site is achievable as evidenced by many other very well positioned web sites after a year to two years of operating history.

What has to be factored into the equation is that this year alone there will be several hundred to one thousand themed franchised operations similar to casino pirata launching. While the Internet gaming market is ever-growing the need is consistently being met with new entrants. I would also have some concern over the $1 million dollar expenditure for advertising which alone likely will supersede profits for at least a couple of years. The shell company idea makes sense in that given Simulator Systems's principal business is other than casino gaming, they will need a separate structure for insulation. Celebrities and Indian tribes are approaching Starnet Communications and other vendors en masse seeking to buy franchises. Many view Internet franchises as a viable method of shoring-up the books and enhancing shareholder value. My money however, would be on the vendors specifically as they are the ones who will likely benefit the most.

Many of the franchisees I consult with have established very profitable operations with less than $1.75 million, although many to date have not been overwhelmingly satisfied with the results they have achieved after a year of operation. As a footnote, Casinos of the South Pacific reportedly garnered $3 million in deposits within 4 days of opening with no advertising whatsoever. I am not aware of anyone else who has achieved anything like that since then.

TG
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