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To: Deanne who wrote (854)3/11/1998 3:21:00 PM
From: Gator  Respond to of 2232
 
O.T. re: ETPI

My understanding that I got from talking to the P.R. guy for ETPI was that no matter what the result of the bankruptcy judges ruling, ETPI will come out a winner. Apparently, they already have an agreement to obtain the equipment and possibly the real estate from Q-Zar, I think what they are waiting for now is whether or not they will get the complete package from Q-Zar (including use of the company name). Would suggest calling the P.R. guy (Bruce Pollock) for more clarification.

Also reviewed the 10K's and 10Q's in Edgar for ETPI. They are showing profitablity this year, but was concerned about the decline in revenue vs. last year. Asked Bruce about this, he said that much of this is from the "Just Games" subsidiary that they acquired last year. They have been closing the smaller one and two game locations because the maintenance costs are higher than the revenue benefit. So while they have reduced revenues from this, they have received even greater benefit from cost savings.

Gator