Monday, November 19, 2007

Moving Forward

Well, G2E is now behind us. It was a great show and I think we showed some seriously innovative products like E-Bay, the MLD slot machine and some great concepts including video and stepper 2 level progressives that we are going to offer for sale. The remainder of 2008 should be a nice year for us and I'm really looking forward to it.

I had to postpone the lawyer for a couple of days. I came out of the Show feeling a bit under the weather and I didn't want Pete to catch anything from me. I went to the doctor and need to swing by the pharmacy on the way home and should be good as new in a few days. I'm looking forward to it as I've felt like crap for over a week now.

I need to touch base with a few folks this week and try to nail down what we're going to do with this partnership. It's not so much that we're not going to do it, it's really a question of structure and cost. Do we claim with an eye to Canterbury, or do we try and get part of a two horse package (at Canterbury, of course) which we wouldn't own outright, but would give us a couple of runners and spread the risk? I really need to nail down the partial horse deal and see how much of the two fillies are available, what breeding potential they may have at the end of their respective careers and if I can structure the partnership in such a way that we can all own 10% of the group.

The 10% threshold is important to me for several reasons. I think that the investment needs to be large enough to enjoy a return. If lightning strikes, 1% won't get you spit but bragging rights. 25% almost gets you too much in that a flop would be too expensive for some. 10% is a nice number. If it's slow, your outlay isn't too onerous, but a home run can make a significant contribution to the bottom line. I'll know more in the next few days and keep everyone posted - all 5 of you!

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