Forum Archive Index - August 2001

["Wedde, John" <John.Wedde@weltec.ac.nz>]

Hi Steven,
I wonder if you could be a little more specific about why the investment in
Canbet, particularly, has been a "disaster"?

Disc: Hold Canbet

Cheers,
John 



                -----Original Message-----
                From:   Steven Link [mailto:seechoke@hotmail.com]
                Sent:   Wednesday, 22 August 2001 18:31
                To:     sharechat@sharechat.co.nz
                Subject:        [sharechat] SKC

                Oops ... sent it b4 I finished the message.

                Check out SKC's track record outside of the Auckland Casino
:

                Force       Disaster   (and the exposure continues to grow -
from an initail 
                $20m to $25m to $55m? - good $ after bad to save the
directors' faces)

                Canbet      Disaster   (and the exposure will continue to
grow as well 
                courtesy of scheduled payments to go)

                Queenstown Casino   Performing well below expectations

                Adelaide Casino     Earnings half that of the last financial
period (sure - 
                promises of better to come in future years but ... anybody
ever wondered why 
                the Australians happily let SKC outbid them?)

                All a case of a great asset (Auckland Casino - monopoly,
licence bought free 
                from the govt) providing cash flow for the Brierley-led
clowns to slowly 
                blow away ...

                Watch this space - more bad news to come ....

                Disc.  Had SKC - sold out recently at around $11.70 when my
broker rang me 
                up re Force.



        
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