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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: bodie who wrote (1917)2/19/1999 6:41:00 PM
From: THOMAS GOODRICH  Read Replies (1) of 8858
 
bodie,

Too many academic assumptions are made in the article you mention. While it's true approximately 40% of revenues and 50% of money wagered originates from the United States currently, the rest of the world is getting wired. Therefore, within a couple of years foreigners are expected to outpace U.S. wagering activity.

What Australia and other nations will do in the event of prohibition in the states is not clear, however, it's not a given they will do anything. Many expect the floodgates will open. While the aussies are open to Internet gambling they are opposed to money flowing outside of their boundaries.

It is expected the United States will pass some form of prohibition this year as opposed to regulation and this factor is already priced into Starnet's business model. Prohibition in reality should have minimal impact on Starnet's earnings for 2 reasons, first, the worldwide market for Internet gaming is expected to continue growing exponentially thus, filling the void and secondly, e-cash venues may not succesfully restrict wagers from the United States. Along these lines there are many other reasons that substantiate owning dominate players like SNMM in the I-Gaming sector.

What IS NOT likely to occur is Starnet's revenues declining in any way for any reason for at least 5 years. What IS likely to happen, is that upon passage or threat of passage of a bill similar to Jon Kyle's of 1998, some investors will allow themselves to be spooked out of the market.

As a licensee representative, (systems integrator) I am standing from a different paradigm and from here, I can assure you the view is unobstructed! BTW, don't believe what you read in all of those magazines!<g>

TG
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