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Non-Tech : Applied Gaming Solutions - AGC (ASE) -- Ignore unavailable to you. Want to Upgrade?

To: roddio who wrote (467)	10/31/1999 8:19:00 AM
From: grenier guy	Respond to of 509

- From - Perpectives Weekend Edition Oct 29 1999 Applied issued news this week stating that the Government of Vietnam was going to eliminate the current paper lottery in favour of Applied's on-line lottery. The paper lottery does about $1.2 Billion a year, so the news is very significant because it can be assumed that the sales volume will come into the lottery that Applied set up and receives a royalty on. Right now, the market capitalization of Applied is about the same as what the lottery deal that they set up in Vietnam is expected to bring the company. However, in the next couple of weeks, I expect the company will announce the contract to do the same system in Ho Chi Minh City, which is worth about five times what the first lottery contract is worth. Over $100 million in revenues for a company that has a market cap of about $15 million, seems AGC is a little under priced. Should see more deals soon. Michel