TO ALL - I just received the following letter which, I presume, was sent to all shareholders (or at least those sending in the memo we drafted a few weeks ago):
May 28, 1998
Dear Tod:
Thank you for the interest expressed with American Bingo & Gaming.
Being with the Company only a matter of days, your questions and the ones from your fellow shareholders have been a blue print for my short term in office.
In the future, I will have monthly conference calls with shareholders, as well as a fairly detailed quarterly report and comments.
The Internet being probably the main communication medium of tomorrow, I will keep up with shareholders through Silicon Investors.
Keep the questions coming and I will try to answer them on one format or the other. It is your Company, we are only managing it on your behalf.
Thanks for your interest and support.
Andre M. Hilliou
P.S. I believe that the stock is a bargain at today's price!!!
This letter appears to be hand-signed (as opposed to a signature stamp) by Mr. Hilliou. I really like Mr. Hilliou's attitude. He confirms, in writing, statements made during the last conference call about frequent conference calls and detailed reports. He is making an effort to demonstrate a willingness to address shareholders concerns and re-establish good communications.
If he (and the Board) can follow this up by making good on the promises in this letter and show some real commitment to shareholder value by scaling back Director's compensation (among other things), I think there is good reason to be optimistic about the future of this company. I hope there will be some significant announcements coming out of the annual meeting.
If there are some serious cost-cutting steps and perhaps a more detailed explanation of Mr. Hilliou's plans for company growth announced at the annual meeting, next Monday could be a very good day for BNGO. It is also possible we could get some good news from SC (both on the end of the legislative session and the Supreme Court case) next Monday.
Thank you for the letter, Mr. Hilliou.
TKA |
