Did anyone else just listen to the group phone call session with Steve? I tried getting in the line up for questions but only the large investment companies seemed to have questions.
The detailed investor presentation document he was referring to during the presentation was not something I have access to but it was interesting to hear some of the details instead of just numbers and references.
He did explain that the 300 million in non core assets they are considering selling are not going to impact revenue and the 300 million is a very conservative figure. He also said that there is materially more assets in the non core group but the 300 million is only what they are considering selling at the moment. Also that there has been a lot of interest in buying their assets.
They're already in talks with the potential buyers of the other two buildings at the Treasury.
I know it his job to convey confidence, he just spent 45 minutes explaining their position and why. He touched on reducing corporate expenses among other things to return some value to the shareholders. He seems very confident in the long term success but stated their stance at the moment is focusing on the short term liquidity, regulatory compliance and building relationships with the regulators.
He also did mention the current playing field is not even but that is not something they are going to worry about and the focus is on what they can control now in the current conditions.
It seems they do have some consideration to returning direct value to shareholders in the current plan but it is focused on stabilizing the relationships and reducing running costs for the time being.
He did say their percentages for the operational fees for running QW besides the 50% share in revenue but I can't remember I think it was 7.5% for the venues, 2.5% for gaming, 2.5% for non gaming, 18% for something else I can't recall and that it would be returned to the business in equity not revenue.
There was plenty more details so maybe some other HC members can share their recollection of the call or I think you can access the recording sometime soon.
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