To: Anthony@Pacific who wrote (35287 ) 5/7/1999 10:33:00 AM From: Sammy Adams Respond to of 122087
<MGAM> up 40+% on news, one for the radar. Here is the news:biz.yahoo.com Thursday May 6, 9:15 pm Eastern Time Multimedia in takeover talks-Business Week NEW YORK, May 6 (Reuters) - Interactive bingo game company Multimedia Games Inc. could be the takeover target of a large maker of slot and poker video machines, Business Week reports in its May 17 edition. The Austin, Texas-based Multimedia Games is in informal talks regarding a possible purchase by a player in the same business, Steve Flaks of Scottsdale, Ariz.-based Flaks Investment Partners, told the financial news weekly. The company was not immediately available for comment to Reuters, but Gordon Graves, Multimedia Games' chairman and chief executive, declined comment to Business Week on whether the company is being courted. Flaks also told the magazine that the shares of the company, which sells equipment to bingo halls across the U.S., could rise not only because of a takeover but also because it has introduced bingo online. Flaks said he believes its shares may be worth $25, while they closed at $6.75 Thursday on the Nasdaq Stock Market. Here is the stock's profile: biz.yahoo.com Business Summary Multimedia Games, Inc. designs and develops interactive Class II bingo games and related electronic player stations and equipment that are marketed to Native American bingo halls located throughout the United States. For the three months ended 12/31/98, total revenues rose 61% to $20.8 million. Net loss applicable to Common totalled $24 thousand vs. an income of $182 thousand. Results reflect growth in interactive games, offset by higher legal and professional expenses. And the insider filings: biz.yahoo.com