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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: mike jolley who wrote (26104)	2/19/1998 10:51:00 AM
From: Knighty Tin	Respond to of 132070

MJ, I like IGT longer term, but I think it is kind of pricey here and only own a third position. I believe the casinos have had a long period of over-expansion and there will be some digestion problems. This will overflow to IGT's market perception and perhaps its order flow. I would buy more in the mid-teens. I have no idea who wins in Michigan, though IGT has to be the favorite. They are developing all sorts of sports betting deals in their partnership with American Wagering (BETM). They will jointly own and operate sports betting parlors in Hilton hotels in Nevada with BETM and, once they are all in place and the initial spending is done, I think both companies will rake in some money. This is much more important for BETM than for IGT, given their different sizes, so I like BETM for a spec in the $6-7 range where it is currently trading. MB