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Site upgrades 8 Jan 13. with fireworks too! wow lol

Thu, Feb 7 2013 3:04 AM (756 replies)
  • skccvb
    799 Posts
    Sun, Jan 13 2013 2:08 PM

    akebono77:

    better spend your credit fast..wgt is gonna bankrupt soon...and close down...

    Acquired perhaps, but WGT isn't going away anytime soon. They may, however, be making moves designed to reduce the liability side of their balance sheet - making the company more valuable on paper. So, spending credits accomplishes just that (reducing liabilities). 

  • PUHOLINO
    1,189 Posts
    Sun, Jan 13 2013 2:18 PM

    chrisironsbones:
    Well, out of principle, I havn't played a single round here sine the last update after finding out the gift cards have gone and been replaced by create your own garbage for $5000.  The way WGT takes the customer for granted with their outrageous decisions has finally made me fall out of love for this site (a pity really) but for months i felt there was a tiny bit of return to be had for my daily grind and daily spend on clubs/balls in the way of a gift card, a little pat on the back and a thank you from WGT for the loayl custom over the years, but now I'm a few thousand short of actually buying 1, they disappear...way to go.  

     

    I recognize you have a legitimate reason to feel this way, but perhaps you should ask yourself, why do you feel so angry about it?

    Would 250 $ make a significant change in your life? From what you wrote in your post, I'm having trouble believing that. Would it bring you a sense of recognition and of achieving something? Well, nobody is stopping you to reach that 165 k goal. We all know you ARE able to get there, so wouldn't that be just as good, since the actual cash prize isn't really that high? If you want recognition, I'm certain we all recognize you to be a great player (but unfortunately a champion whiner at times as well).

    chrisironsbones:
    My biggest enjoyment was ready go & challenge matches. These have been rendered POINTLESS, and not worth entering as I dont need credits to buy balls as there is no point in saving up any more

    Why would RGs and MPCs stop being enjoyable. I'd imagine it was the adrenalin of playing and the thrill of winning that got you hooked, not the prospect of being payed 250 $ for a 2 year grind (if the latter was the case, maybe you should take a job in a shoe factory in China, you'll work less and be payed more per hour). Credits still have value, new items are coming to the pro shop.If you stop liking the actual game cause of all this, ask yourself if you ever really liked it to begin with.

    To most winnings represent a sense of pride. The difference is what you do with them. Some feel joy when they look at their 6 figure credit balance (I'm guessing from your posts you fit in there), knowing they don't ever need to spend a dime of their real cash again, To others they're simply means that provide them with an opportunity to put a smile in the heart of someone, who can't afford the gear himself and never sees it coming. Some are even able to enjoy both.

    But it's totally up to you how you wish to see all this and what your course of action will be. Everyone is entitled to have his own reasons why he is or isn't a member of this game and community. I know what my reasons are, I hope you know or find yours as well.

    But I dare you to find anything that doesn't make sense in what I wrote above.

    Jure

    P.S.: I'd stick around if I were you, I think some pretty good real merchandise will be available soon enough. And I'd continue with the RGs, now that you're no longer a threat to break their bank, they might even lift the score limitation off of you ;-)

  • chris5214
    1,937 Posts
    Sun, Jan 13 2013 2:31 PM

    skccvb:

    akebono77:

    better spend your credit fast..wgt is gonna bankrupt soon...and close down...

    Acquired perhaps, but WGT isn't going away anytime soon. They may, however, be making moves designed to reduce the liability side of their balance sheet - making the company more valuable on paper. So, spending credits accomplishes just that (reducing liabilities). 

    i think it might actually be classified a contingent liability .. so it only becomes actual when a future contracted transaction is concluded that meets certain criteria, meaning it won't reflect directly on their balance sheet, but rather within the notes to the balance sheet ..

    however, i guess any contingent liability that may reduce the perceived net asset value might also pose a value threat .. whatever is goin' on, i think disclosure would be prudent ..

  • SHRUDE
    5,835 Posts
    Sun, Jan 13 2013 2:43 PM

    lvietri:
    don't compare it to 2009

    I see. I did get the impression from looking through the News Archives that there wasn't much going on as far as all you listed was concerned.

    I saw all the prizes, caps, shirts, tangible items up for grabs.

    As well as I guess the constant updates in community related news, highlighting players and actually offering a lot of regular information to help out the community.

    So we have all the improvements and pro shop item and courses now, at the cost of a community focus.

  • andyson
    6,415 Posts
    Sun, Jan 13 2013 3:07 PM

    You guys really think WGT treats all outstanding credits as a liability?  When such a small, small, number of credits actually are exchanged for a cash equivalent gift card?  99.9999% of credits are used for pixels, virtual clubs, balls, avatars, bags (lol).  My view is they'd recognize the revenue immediately when Visa, MC, etc sends the xfer funds or sooner.  The costs for the few gift cards they buy? just expense 'em. 

  • Buggyyy
    1,963 Posts
    Sun, Jan 13 2013 3:10 PM

    This thread has literally gone nowhere. Someone close it before the forum gets a bug, and they have to close it down like the search box. I wonder how long player could wait without being able to post something. :)

  • andyson
    6,415 Posts
    Sun, Jan 13 2013 3:11 PM

    lvietri:
    You got zero (yes zero) information from WGT in the forums since there were no forum moderators hired until 2010 when WGTNiv came on board. 

    You don't remember WGTAlex Lou?

  • saltiresfan
    2,266 Posts
    Sun, Jan 13 2013 3:18 PM

    andyson:

    You guys really think WGT treats all outstanding credits as a liability?  When such a small, small, number of credits actually are exchanged for a cash equivalent gift card?  99.9999% of credits are used for pixels, virtual clubs, balls, avatars, bags (lol).  My view is they'd recognize the revenue immediately when Visa, MC, etc sends the xfer funds.  The costs for the few gift cards they buy? just expense 'em. 

    They would potentially have a provision for possible liabilities in the same way you would have a provision for doubtful debts. They key then would be what is the adjustment is that provision on a month-by-month basis.

    In terms of creating a balance sheet you would in my opinion have to account for all outstanding credits and their potential redemption value. 

    If all this accountancy chat doesn't kill the thread, nothing will.

  • chris5214
    1,937 Posts
    Sun, Jan 13 2013 3:46 PM

    saltiresfan:

     

    They would potentially have a provision for possible liabilities in the same way you would have a provision for doubtful debts. They key then would be what is the adjustment is that provision on a month-by-month basis.

    In terms of creating a balance sheet you would in my opinion have to account for all outstanding credits and their potential redemption value. 

    If all this accountancy chat doesn't kill the thread, nothing will.

    lmfao .. i can't resist .. so as u said, if this doesn't kill it, nuthin' will ..

    u would have to account for it only if there is a reasonable certainty that those credits will be redeemed within a 12 mnth period from the annual financial statements date .. otherwise it remains contingent in the notes to the statements ..

    now on to IFRS .. anybody ? lol

     

  • Dougie4042
    4,410 Posts
    Sun, Jan 13 2013 4:12 PM

    PUHOLINO:
    To others they're simply means that provide them with a opportunity to put a smile in the heart of someone, who can't afford the gear himself and never sees it coming. Some are even able to enjoy both.

    Well put sir.  Cheers to you!

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