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Non-Tech : Multimedia Games Inc. (MGAM)
MGAM 0.122-0.8%Nov 5 11:48 AM EST
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To: Jack A. Berg who wrote (34)1/19/1997 9:46:00 PM
From: Craig Stevenson   of 197
 
I agree that the government could certainly clamp down as the tribes make more money. It would be interesting to see exactly how much they actually make, but since they are really independent nations, that's almost impossible to do.

The Class II classification allows the game to be played via a proxy. MegaMania is actually a bunch of halls linked together, so you have hundreds of players playing a single game. This increases the prize amount, which creates greater interest in the game.

My broker got the $50.00 per night figure from the CFO, but I don't know how to confirm it. If MegaMania revenues are broken out of revenue on the reports, we could get a pretty good idea. There were about 1,000 machines in the field last quarter.

Several items look good going forward, but I don't know if they will happen in 1997. My understanding is that Multimedia Games was originally started to put together TV shows. Evidently, they haven't forgotten about that, and are still looking at doing something along those lines. The most exciting thing that I see (profit wise) is their push onto the Internet. That would be a way to generate world-wide revenue, even if they run into some regulatory hurdles in the U.S. One thing I like about Gordon Graves (CEO) is that he tries to get any potential legal problems taken care of before he pushes forward. (The U.S. Attorney investigation caught everyone off guard, however.)

There is a ton of information in their year-end report at sec.gov.
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