As a fly, I tend to get into a little sh*t now and then.
Time to buzz off.
B4 I leave...
My only concern with GGNC is that they tend to make a lot of forward-looking statements about their business plan.
As an Internet gaming investor, I've come to realize that the major issue holding back this industry - and my investment in it - is credibility.
Consumer issues:
- Can I trust an operator with my credit card?
- Will they pay me if I win?
- Are the games rigged?
- Why are they all offshore? Who are they?
- Is this just a Mob money-laundering front?
- Etc.
...not to mention the legal uncertainty of Internet gaming right here in the good ol' USA.
Every time an Internet casino steals credit card numbers, fails to pay out winnings, etc., the fragile credibility of the industry is bruised. Two steps forward, one step back.
The credibility of the industry can ALSO be tarnished in a non-consumer manner...on the stock market, for example. A casino on the Internet sounds like (and will one day actually be) a gold mine - a super candidate for a stock play.
Without drawing things out, I hope that GGNC follows through on everything they've promised. Their business, and stock, will prosper deservedly.
But if they don't, then financing bona fide Internet gaming ventures in the public markets may become that much more difficult...kinda like gold after Bre-X.
ALL public Internet gaming companies may be scrutinized and perhaps devalued in a reactionary frenzy. Internet gaming will be dropped another bomb, yet another self-fulfilling prophecy that it's "all a scam."
I have to say that mentioning their name in the same breath as Amazon was what really set off my personal alarm bell on GGNC. A very, very ambitious comparison.
Nonetheless, good luck to everyone associated with GIC, and hats off to those who got in at $0.08.
Happy Holidays,
///M |
