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Non-Tech : Lake City Gaming: LCG-V
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To: K. Anders who wrote (65)1/8/1999 8:53:00 AM
From: Jerrold Annett  Read Replies (2) of 124
 
Karl, big things happening with LCG.

Yes, I do talk to Micro Cap and with LCG directly at least once a week. I expect Quarter 2 results to be within the same range of Quarter 1 although there were higher labour costs due to the opening of the Vernon Expansion and due to the Christmas Holidays. The bottom line should be still very impressive for a "slow-season" Quarter. Things should be very strong for Quarter 3 and watch-out for Quarter 4 when the new Kelowna Casino will add to revenues at least for 1 to 2 months.

Lots of rumours flying around about a Major U.S. Gambling Companies interested in taking over Fred Glasgow's control block of greater than 70%. Greater than $5.00 per share have been thrown out there.
I get a feeling there is interest there to sell from Mr. Glasgow but he will wait for the best possible offer for himself and for the company. What will happen if a U.S. Company takes over at $5.00? I'd expect that the market would anticipate that this company will enter the market and purchase the rest of the shares. This would of course drive the shares up through the roof. I hear that there are many companies interested in entering the untapped market of B.C. and LCG is by far the most attractive and easiest (due to the large control block) to take over. I discussed my theories with the IR of LCG but they are hush-hush about it all.

Good Luck,

Jerrold


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