follow the cage capital - its the equivalent of cash!
I have seen the operations more than once! It's legitimate - more real than most sh!t traded in the usa. More real than watching the circus on tv daily.
Its comical that the gaming investors, those institutions holding shares of MGM, WYNN, LVS don't buy the crap out of AERL. They should know the Macau business better than a dog knows how to licks its rear hatch. Without VIP operators like AERL, LVS, WYNN, MGM would trade signficantly lower - those stocks are here because of Macau, not Vegas.
AERL makes public the RCT level it has attained in a monthly press release, achieving two purposes. The more obvious one being it gives investors a clear indication of the amount of business AERL has done for the trailing month. But it also represents the success the company has had in collecting the money owed it by VIP clients. This is important because the business is run on a monthly cycle, having capital to loan to patrons for gaming at the start of the month, and then recouping the patron’s debt and being paid by the casino at the end of the month. Without the successful, timely collection of debt (DSO’s are referenced in a report from Daiwa) the company would not have been able to achieve the results it has had in the last few years. Which is where the story gets very interesting.
The Street does not understand this business, and the company needs to do a better job in aquainting the street with AERL. Just keep loading up, because that will all change sometime in the future, imo.