Quote:
Originally Posted by mike33  The question I have is why did ASM almost entirely quit making chips for the casinos? What was it that allowed Paulson to take over and now dominate the casino market and when did that happen? |
Here's a short answer that Jim gives in the interview:
"Jim Blanchard: Most of our business, now, is in the home market. We still do occasional casinos, but we're not really targeting that market. That's a more difficult market to deal with, for a small company. When you deal with these giant casinos, they want quick delivery and they also want to hold up your money for a long time before they pay. So the combination of the two makes it a little more difficult to do business. They want great service, they want the whole work force working on their order, and then they want to take 120 days to pay you. It's ok for multi million-dollar corporations but it's not good for a small company."
Hope that helps...
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