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To: Citibob who wrote (8790)6/25/1998 12:56:00 PM
From: Ed Pettee  Read Replies (2) | Respond to of 10368
 
I received a call from Andre Hilliou last night. He discussed the stock action yesterday and the efforts he and other Directors are taking in keeping the stock stable.He indicated that they were reviewing other jurisdictions for obtaining increased viable businesses . He certainly has wasted no time putting certain cost cutting actions into place. At first I couldn't figure out how we would save the 240k per year by closing the Austin office, until I realized that we actually moved into space we already owned in the Gold Strike operation in Columbia. Also there were 11 people in the Austin office with certain duplications that are also a savings.

Time will tell, but I can feel a change in the climate,attitude and personality of the company. I believe a year from now the company in Columbia will have little resemblance to the company as it was in Austin. I also had the chance to speak with Michael Mims , who will be at the same Bingo Conference and Exposition that I am attending in Orlando next week. I hope to talk to him next week about those subjects that he can discuss.

I have to say I was impressed by the CEO calling a stock holder and discussing the current pressure on the stock and the issues that will be addressed in moving the company forward. It does give you a sense of assurance that you know we are moving forward. So different from the last regime. I understand that there will be a number of announcements coming out early next week .

Long BINGO



To: Citibob who wrote (8790)6/25/1998 2:53:00 PM
From: T.K. Allen  Read Replies (1) | Respond to of 10368
 
Citibob: I agree with much of what you say. Although I have no animosity toward John Orton, I do think AB&G needed a major management overhaul. It seem clear to me that Mr. Hilliou came on with a mandate to do whatever is necessary to get things moving again. It looks to me like he has viable ideas how to do this. I have spoken with Mr. Hilliou a couple of times and have come away with the sense that he knows exactly what he is doing.

Although I agree with your statement "The pending Supreme Court decision whether positive or negative to us will in the long run be inconsequential to BNGO's growth", I think this uncertainty is putting a damper on the stock at the moment. I suspect a number of people want this decision known before making a decision on BNGO. Heck, if I didn't already hold a bunch of BNGO shares I might be doing the same thing. I am optimistic about a positive outcome of that case, however, as I have been unable to find any good reason to believe the argument that video poker constitutes an "illegal lottery".

TKA