"The analyst tonight on YMYC pretty much as close as you can in my mind admitted that the montgomery fund were briefed about the results outlook for the company well before the market."
David Buckland said they had a two hour conference call with Gavin Isaacs in the USA. GI is the CEO of Scientific Games a merged company in the US who are in competition with AGI and ALL (info here: http://www.copyright link/p/busines...mes_makes_local_pokies_hFcvBf33CzZzlnIC3EOj8I more info if you Google). DB also said that, combined with a 26% drop in money over the tables in Macau, so reduced money being spent on gambling impacting on pokies, bought them to the decision to sell down their complete holding in AGI over a period of seven weeks, . Also, they expected ALL, to be competitive (with AGI and Scientific), to buy market share by dropping prices, so not good for ALL either. Although, having said that, I expect Montgomery did have briefings with AGI and also ALL, in fact he did say in his blog he had a meeting with AGI but wouldn't comment on it and still hasn't. I'm assuming Montgomery bought AGI before they became aware of the Scientific merge also, it would be hard to believe AGI would talk down their own stock to Montgomery.
When Lyn (AKA Sharleen) rang last night, accusing Montgomery of spruiking, DB did say it's not an unreasonable question and admitted they made a poor call but took their losses and medicine. I'm not an apologist for Montgomery, in fact my reaction to the "no comment" "embargo" "commercial reasons" has been WTF, but as always it comes down to DYOR and make your own decisions.
Sharls, I think the only way you're going to get resolution is if you can develop a time line on who bought/sold what when, had meetings with who when, what was/wasn't said, combined with recommendations by RM on Switzer, and to get most of that you're going to need the cooperation of RM, and that ain't going to happen.
As an aside, I was an investor in Aristocrat way back in the day (nineties) and the same thing went on regarding competition, licences in US, number of pokie allocations, etc, etc, it just seems to be part of the business and nothings changed. And to think I nearly bought when RM was over the top with his enthusiasm on AGI, I think I'll steer clear of all of them, like the product they sell, they're a punt.
Good luck over and out.
AGI Price at posting:
$2.43 Sentiment: None Disclosure: Not Held
(20min delay)