Set in Italy in a time of rampant chaos, this is a very challenging game where the winner is the one who is
left standing after the initial train rush, which generally happens around the third operating round. Read
this for a sum up of rules differences with 1830
Next, take a look at the map and note the company starting locations and the terrain costs.
The map of 1849.
In case you did not manage to read the rules, here's a quick round-up:
This game features partial capitalization where shares bought from a company give the company money and
a nice exit hatch whereby a company can simply issue the shares in its treasury to raise capital. Note
that a clever little rule that does not allow a company to issue of stock unless it has completed one
full operating round guarantees that a company starting without enough $$$ to buy a train from the bank
might require emergency financing from the president.
None of the above really helps too much since the par prices are fixed at L.68 / L.100 at the start and
players only begin with L.375 cash in a 4 player game.
The order in which companies may start is fixed and randomly determined at the start of the game.
Moreover, each company has a fixed token cost it needs to pay when it floats (placing the tokens when
operating is free). This makes every game interesting but also skews valuations as some companies pay a
lot for their tokens and some get them for rather cheap.
Company cash is extremely critical in this game as building track just about anywhere costs money.
Add to this the fact that there are only 4x2H, 4x6H with the 8H rusting the 4H, companies find
themselves in extremely tight spots a few ORs into the game.
Shares of a company in the market at the end of a stock round lead to a drop in stock price (this
provides a lot of incentive for stock trashing).
The game does provide some interesting escape hatches in the form of being able to close a company if its
stock reaches the bottom-leftmost space and a bankruptcy not quite ejecting a player out of the game. A
failure to own a required train leads to emergency financing from the president à la 1830. After selling all
the stock that they legally can, if they still owe money, the company in question closes but if the player
still holds stock (likely another presidency or stock that could not be sold because there were 5 shares
already in the market), they continue the game. If the player does not have any stock left, they may take a
L.500 loan and jump back into the game. A sum of L.750 would be subtracted from their final score in this
case. While these escape hatches might let one get out of a sticky situation, a player does not generally
fare well after employing these :).
In my experience, the inital private auction is rather critical and the private providing the presidency is
great value for money. Getting it for under L.200 will allow one to par at L.100 and buy 3 shares and be
guaranteed to get the fourth share for L.90 in the second stock round. In fact it is even better to simply
get the first private and come into SR1 with $$$ depending upon the turn order and the companies available
to start. The L.110 private is very useful and should ideally be bid up. Letting someone start a corporation
at L.68/share issuing shares ASAP and letting them extract L.220 value to start a new corporation with better
routes is very dangerous. The old corporation can then potentially use the ability of the teleport to
help the new corporation build a better route and simply close.
Note that attacking opponents
at the start of the game can be very beneficial as one can deny them the ability to compound their share value.
Moreover, money at the start of the game companies do not necessarily require a lot of cash apart from
needing to buy trains which are fairly cheap at L.100 each.
Conversely, as a president of a company one is constantly on the lookout for timing the first issuing
of shares so that one can:
Get the double cert of the company.
Buy in privates in increase liquidity.
Deny opponents the ability to dunk stock value.
After having played a few games, I have not been successful with a L.68 par as of yet :(. My
favourite is the ATA (green) with the Port private but I will happily take whatever the presidency private
offers me. I do not like RCS (orange) mostly because the tokens cost a lot and CTL (yellow) does not have a
great run unless RCS is helping it reach Palermo. Getting a 10H which is the first permanent is usually a
game winner. Certificate limits are very tight so if you can also somehow manage to grab a double share of
your own company and put a permanent on it, you are coasting to victory!
Unless you are in the lead, most of this game is spent wallowing in misery. However, this game is also a
very good teacher of the Priority Deal as it is much more beneficial to dump non-performing companies,
especially at the start since the routes are closely linked together. Oddly enough, after the initial train
rush, things ease up as there is a lot more $$$ to be made and after the sale of the first 16H, one can get
a R6H for around L.350 so things are not so bad. There are only 2 of the cheaper permanents though, so
again, operating order is critical!