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Technology Stocks : Gemstar Intl (GMST)

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To: scott who started this subject	3/5/2004 3:14:05 PM
From: LLLefty	of 6516

Beaucoup rumors on the backstretch over TVG's plans. I found most interesting--in the wake of an arbitration award (which I posted earlier) to TVG against UBET--that TVG kicked upstairs its founding boss and has brought in a bSkyb vice president as COO of TVG; apparently he's versed in interactive wagering From what I gather bSkyb is doing well with Account Deposit Wagering in the UK. TVG has until May to decide whether to exercise its option (at 1.69 against UBET's presently 4 dollar range). Official 4th quarter handle figures from the State of Oregon hub, had UBET slightly ahead of TVG; each was in the $60M-plus range. A privately-held ADW, Greenwood, was in the same range. To make it more interesting, Churchill Downs (still the best cachet in racing) said at its recent cc that it is most interested in entering the ADW game and bringing about some form of rationalization among the many sparring factions involved in a flat industry.. If I had a vote that's where I would go but the conventional wisdom seems to be that TVG will exercise its warrants and, ultimately, spin off a combined TVG-UBET There are many possible permutations which, since I'm a long-time follower of Occam's Razor, I won't even try to list.

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