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Strategies & Market Trends : Value Investing

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To: James Clarke who wrote (6230)	3/7/1999 3:47:00 AM
From: Paul Senior	Read Replies (2) of 78482

Jim, re IGT. Well, I follow it (sold my position in '97), but perhaps I may not know it well enough for your needs. Until last week, I had been looking for a buy point again about 19-20. But with this new possible legislation being introduced in Nevada whereby casinos or Nevada, will garner a larger share of progressive jack pots-- I've stopped to reassess. IGT now gets a cut of the revenues on their progressive slot machines. (IGT has had some power here over the casinos because they've tied the machines together over many casinos to enable larger jackpots -- the progressive). If the legislation fails to pass, or there's only minor accommodation to the Nevada casinos, then I'd reconsider being a buyer. However, at this point I'm not astute enough to either assess the final legislative outcome or any potential impact on IGT if such legislation passes. Big long term holder and buyer of IGT is Wanger of Acorn fund. Be interesting to see what they are doing now regarding IGT. Paul.

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