Autotote Corp (TTE) --- Computerized wagering equipment Message Board

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Microcap & Penny Stocks : Autotote Corp (TTE) --- Computerized wagering equipment

TTE 62.24

+1.0%

Oct 31 9:30 AM EST

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To: Dawgfool who wrote (98)	12/22/1998 10:08:00 PM
From: joe z	Read Replies (1) of 124

Conference Call Summary Revenues have increased but the start-up costs have taken their cut out of operations. Topics discussed include: France- PMU, the French owned agency responsible for the OTB's in France has been mandated to take in-house the Paris pari-mutual operations. This may back fire on them, however, TTE has eliminated their activities by way of a $1.5 million charge to cover these costs. Operations outside Paris will remain under Autotote. New Jersey - the OTB referendum will become clearer in the spring after the A.C. racecourse meet. Autotote has an option to buy the operations in A.C. Depreciation - will be reduced to about $22 million next year due to the extended lives of the equipment. This will add about .20 cents to the bottom line. TTE is anticipating profitability in the second half of fiscal '99. CBS lawsuit is being settled now. Nevada licensing application can now go forward. Non-compete agreement in sports wagering will lapse in June 1999 and will open other opportunities. Montana lottery will start in April 1999. Germany - 20 OTB shops now operational with about 20 shops opening each month going forward for a while. Currently only the trotter signal is operational with the thoroughbred signal expected to come on line soon. Overall, better than expected. TrackNet/NASRIN - Autotote joined Churchill in the best interests of racing and to solidify their position. Originally there were several bidders on the Network bid but, expect some consolidation now. Hopefully, when the Churchill totalister contract comes up for renewal, they will go with their partner--Autotote. Holland - expect handle in the $50 million range with some potentially new gaming(lottery?) options coming to fruition. Belgium - could turn out to be another Holland deal! Turkey - is very profitable. Ireland - operation takeover in April. Overall a rather brief conference call this go round. Profitability for second half fiscal '99 still looks like a go! Season's Greetings!

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