Notes from Today's Meeting
by: shiloh1_2000 (48/M/North Hollywood, CA) 06/15/06 07:50 pm
Msg: 86635 of 86720
Following is a BRIEF summation from notes taken during today's shareholders' meeting in Woodland Hills:
1. Both the equity incentive plan and board members up for reinstatement were approved.
2. Tomorrow's licensing agreement for IRG in Oregon is highly expected to be approved.
3. The "single card" project can be expected to be unveiled in the first quarter of 2007. A Youbet user can take his/her card to the track to be used in the machines and/or can wager online. Bets may be tracked and users will receive points, ultimately resulting in awards. This is similar to what Harrah's is currently doing with their customers.
4. Youbet is currently pursuing other forms of gaming which we can expect to see either later this year or early next. In an earlier CC, Gary Sproule mentioned soccer; there was no hint of what the plans would be.
5. The Goodlatte bill will NOT affect horse racing.
6. Nevada will eventually happen, but the wait continues, frustrating Chuck as well as everyone else. It appears the licensing process in Nevada is thorough and complex. "It's the chicken and egg dilemma," said Chuck. "You have to have a business in Nevada to get a license, but you have to have a license to do business." However, the company is working dilligently on solving the problem.
Additionally, United Tote's new F4 terminals are far superior to what Nevada (more specifically Las Vegas) is using right now, hence there may be a major market waiting to open.
7. Chuck was unable to comment on the United Tote loan as it's currently being processed, however, indicated that several banks had expressed an interest. Reading between the lines, it appears that will be a non-issue as June 30 rolls around.
8. Next week's Slavinia trip presents an opportunity to work with a wide assortment of individuals and learn more as the company progresses internationally.
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