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Dover Downs Gaming & Entertainment Inc. Message Board

  • extraplenty extraplenty Dec 30, 2012 11:07 PM Flag

    trading less than book...

    Property prices are recovering and so is the economy. This stock is also distributing a decent dividend. Why is this stock so depressed?

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    • Because the dividend was cut by 33% last quarter. They are about to breach debt covenants in the first half of this year. Huge new competion from a giant new casino in Maryland and others in that state and other surrounding states. They will have a difficult comparison in quarter four of 2012 because of the competition and the fact that two important race dates at the nascar track fell in the fourth quarter last year and third quarter this year. Very possible the dividend will be cut again or eliminated.

      Sentiment: Sell

      • 1 Reply to slim_niceguy
      • You were right Slim.... Good thing to look forward to is this nugget by Denis McGlynn:

        "We remain confident that Delaware’s internet casino offerings will be among the first to come online and set the standard for other states. Our goal remains to stay one step ahead of the competition and to continue offering our patrons the region’s finest amenities and richest gaming experiences.”

        Sentiment: Strong Buy

 
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