Re: PartyGaming rubs salt in Empire\'s wounds
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You said earlier that EOL would be profitable business without it's Skin Network poker operations thats doubtful but I'd like to hear more of your thoughts on this idea.
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Remember, that Empire is basically a marketing company for the following brands...
EmpirePoker.com, NoblePoker.com, 888Casino.com, AceClub.com, ClubDiceCasino.com, MonacoGoldCasino.com, CarnivalCasino.com, YouBingo.com
The revenue breakdown last quarter was 75% Poker, 25% Casino. With 50%+ operating margins!!
Empire also made this statement in its 3rs Qtr release...
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During the third quarter of 2005 the Company completed the acquisition of the casino and poker brands known as “Club Dice” and “Noble Poker”. Since acquisition the Company has made a significant effort to build both brands, which will continue through the final quarter of this year. Both of these brands are supported by the, well respected, Playtech software platform. These acquisitions have been integrated successfully and are now contributing strongly to the Company’s growth in new real money players for both poker and casino.
These new brands, together with the newly developed backgammon platform will provide a more diversified range of products and are expected to contribute significantly to the future growth of the Company.
Since the beginning of Q4 2005, the Company has acquired more than 40% of its new real money players with these new brands
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Empire is also not releasing quarterly financial statements, so we have no idea what its balance sheet looks like, but it should have a some cash remaining from the IPO. Without a balance sheet, its hard to properly put a value on the company.... Anyone have a copy of the IPO perspectus?
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