Back to China and IGT for a moment
Why does the IGT and CLS investment into their JV have anything to do with EGMI’s joint venture with CLS (other than to indicate CLS is putting money and energy into moving forward on a number of fronts to build the lottery business)?
There were four or five posts concerning the EGMI JV with statements like “the majority of the capital is being funded by others” and “there's little to no costs associated with it” apparently believing IGT would be funding the trial programs for EGMI’s cards. I don’t see any indication that any of the IGT money will be going to the EGMI program.
If someone reads it differently, or has other info, I’d appreciate your posting it.
From post #6442
The board of directors (the “Directors’) of China LotSynergy Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) would like to update the shareholders of the Company on the latest development of the Group’s businesses.
The Board is pleased to announce that, on 12 October 2009, the Group and International Game Technology (“IGT”), the Group’s strategic partner, made a further capital injection in the amount of US$9,860,000 into their joint venture in China – IGT-Synergy Technology (Beijing) Co., Ltd. (the “Capital Injection”). The injected capital will be used to develop the lottery business in China.
