ITQ 0.00% $7.12 intecq limited

eBet should prosper, no matter what

  1. 420 Posts.
    Last week I made the following statement:

    "The Colorado casinos reported today their earnings have increased, despite the severe economic downturn in the U.S.. This is a classic example of how in the most depressed conditions, nothing slows down people's inherent desires to forget their woes by distracting activities such as having a punt.

    So in the worst of times, eBet should survive - and survive well, whilst other companies in less robust sectors unfortunately crumble."

    Another observation worth noting is the great success of U.S. gaming company Electronic Arts (Nasdaq:ERTS) which recently announced its results for the first fiscal quarter ending June 30, 2002. Their consolidated net revenues for the quarter were $331.9 million, an increase of 82% over the $182.0 million reported in the same quarter of the prior year.

    This is yet another example of how gaming companies generally manage to not only survive but actually prosper, during otherwise very lean times. Compared to most other NASDAQ listed companies, Electronic Arts is thriving. This bodes well for a company such as eBet, that should remain relatively unaffected by external economic events, all else being equal. And in tough times like these, companies need every advantage they can muster, such as being in a recession-proof sector.

    Soft underbelly of corporate fraud and unbridled greed
    shamelessly draining the market bull when most in need

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