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Dover Downs Gaming & Entertainment Inc. Message Board

  • bigfry_52 bigfry_52 Jul 12, 2006 1:10 AM Flag

    It's Official> LOOK OUT BELOW !

    Now that The Deleware Lottery has reported all 3 months of slot revenues for DDE's 2nd quarter ....


    DDE will report disappointing earnings & revenues for Q'2

    DDE's slot revenue grew only 4.7% for the entire 2nd quarter.

    The analyst with the lowest expectations was expecting DDE's slot revenue to grow 9.5% in Q'2...

    DDE's Q'2 slot revenues are far below consensus wall street slot revenue growth expectations.

    DDE closed today at:

    3.05 X TTM Sales and 13.8 X TTM EBITDA

    DDE is now (by far) the most expensive publicly traded casino operator....

    When DDE misses the quarter, the stock should sell more like it's country cousin --> MNTG

    MNTG operrates in the same geographic area, and is a single property operator with similar win per machine rates as DDE...

    MNTG currently sells for:

    1.15 X SALES and 7 X EBITDA

    If DDE were to sell for the same value ratios as MNTG...

    DDE is worth $10.60 on a Price to Sales comparison to MNTG of 1.15 X Sales

    and more likely

    DDE is only worth $7.95 a share when compared to the 7X Ebitda multiple that MNTG currently trades for.


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