Opinions Robert McWhirter
Chartwell Technology Inc.CWH.TODON'T BUYOct 25, 2006
Have gotten out of most of the gambling stocks. US banned internet gaming which dropped the stocks back.
$2.00
Stock price when the opinion was issued
computer softwareprocessing
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PARTIAL SELL
Software manufacturer for the online gaming industry. Took a tremendous hit in 2005/2006 when US government disallowed funds to be held in the US. Its clients were primarily in Europe. Stock has done very well since the beginning of the year. Has about $0.80 per share in cash. Consider taking some profits. Valuation still looks relatively solid.
Ryan IrvineOwned
computer softwareprocessing
BUY
Thinks it has bottomed. The whole space fell apart in the late summer. This one continues to chug along in adding new customers. From a valuation viewpoint, it is far more realistically valued than it was at $12. Still a little concerned that the space hasn't rolled over, so you may get a bit of a pause here.
Peter HodsonOwned
computer softwareprocessing
DON'T BUY
Sold Chartwell (CWH-T), Cryptologic (CRY-T) and Great Canadian Gaming (GCD-T) and when they moved down in his models at the end of June. When a stock takes a loss of 8/9%, you should take a good hard look as their first loss is usually their smallest. In the bottom 1/3 of his database. Have another look at it in 3/6 months.
computer softwareprocessing
PAST TOP PICK
(A Top Pick May 10/05. Down 40%.) Has been a huge disappointment. They missed their last earnings numbers. Even though the internet gambling space has been hot, they are deemed to be the loser in this space. Too cheap to sell at this time.
Peter HodsonOwned
computer softwareprocessing
BUY
One of their customers "Bet & Win" was accused by an anti gambling group of cheating on their taxes. Thinks this was massively over blown. Will be reporting earnings this week and numbers should be good.
Peter HodsonOwned
computer softwareprocessing
TOP PICK
Internet gaming space. Have some good clients, good traction. Now in a market cap range where more people are paying attention to it.
Peter HodsonOwned
computer softwareprocessing
HOLD
There's a huge move in the online gambling space right now. The space is hot. This one is running because there is a UK gambling bill that may change perception of the industry and investors are much more receptive of the story in Europe.
Peter HodsonOwned
computer softwareprocessing
BUY
The poker side of gambling has advanced dramatically. Had extremely strong numbers, so optimistic that both this and Cryptologic will continue to rank high in his model and continue to produce good profits.
Robert McWhirterOwned
computer softwareprocessing
BUY
Moving some of his gains from Cryptologic into this company. Still likes Cryptologic. Has a different focus and smaller customer base, but have been putting it together and expects a few new licensing deals over the next few quarters.
Peter HodsonOwned
computer softwareprocessing
BUY
Keen on the internet gaming side in the software. Prefers this company over Cryptologic as it offers a better bang for a buck.
Robert McWhirterOwned
computer softwareprocessing
