AGI - A Few Thoughts, page-15

@hosh in my opinion you have called out the elephant in the room. There are a few interesting things here that I believe are worth a further look into. First, as you so rightly highlight--"we haven't heard squat about them [Novomatic] installing AGI units into Europe". What the hell is going on here because if you look at the rather depressing Chairman and CEO ASX release ahead of the AGM they actually came out and explicitly stated their RoW fell 35% (yes that is right 35%) because of the decline in the Novomatic contribution. To me this makes me want to go out and cut my wrists because what this is saying to the market is that even AGI's major shareholder thinks AGI machines stink and are unwilling to try and sell AGI machines in Novomatic's home turf of Europe where they have a very significant ability to control the market. This speaks volumes about Novomatic not even trying to protect their investment in AGI. So you also touched on a good point about Novomatic's focus on Nth America. While Yogonet is not a bad industry publication if you really want to get into numbers and see who is doing what in Nth America you really should take a look at Eilers reports https://ekgamingllc.com/ These reports really get to the nub of who's doing what. Unfortunately, Eilers is a pay service and not cheap, but if you're serious about investing in gaming stocks it is invaluable. Anyway, The last report I reviewed was about 6 months old, but it tells a very sad story about Novomatic into Nth America. Eiler's is only showing Novomatic with a couple of hundred machines while AGI has many thousands. I'm not 100% certain about this, but I'm told that Novomatic has been trying to crack the Nth American market for over 10 years and all they have to show for it is a few hundred machines. By comparison a company called AGS has several thousand machines in Nth America and I understand, I'm happy to be corrected on this, but AGS has been chipping away at the Nth American market for a lot less time than Novomatic and have a great deal more to show for their efforts than Novomatic does. So, for me if Novomatic intend to pump more of their machines into Nth America via AGI I fear that this will completely send AGI down the toilet.