Can someone tell me why this stock trades at less then ten times earnings, even though in a couple months its gona get additinal revenue through the table games, and table games in PA should hurt deleware park much more then dover downs who attracts a more localized population. While other casino stocks are trading 30 times to 70 times forward earnings. I think the price is really cheap just am wondering is there something that I am missing.
Dont think its a 10 dollar stock or will ever trade at the multible of an mgm, lvs, or wynn. But looking at it currently and not even taking in the addition of table games, I still Believe its easily worth 4.50 plus. So I dont think its gona make me a millionare but I do think its undervalued.
Agree this is a great company. In a sea of fish, it is one of the smallest though, so it doesn't get the Wall Street coverage of an MGM Mirage. With table games, lots of folks from the east coast have alternatives to AC now. It pays out a relatively nice dividend (3%) on top of this.
My folks love Dover. They go about once a month. Weekends are usually cowded, week days not so much. Feb was probably a bad month though due to the weather. They say the exployees there though are great, better than what you get in Vegas.
About once a year, this company gets a big volume spike, than fades away. I'd love to see someone like Penn National add this to their properties, but they already have a lot of projects (just bought Beulah) as is. Until then, I'll hold my shares. I see a move above $5 in the next 12 months.
If I had the money, I would buy this business at this price before anyone woke up! What a steal. Deals like this come around very rarely! Dover has it all. National exposer, per motor sports, horse racing, slots and now table games. Can you say goldmine!