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Lakes Entertainment, Inc. Message Board

  • smaycs4 smaycs4 Nov 6, 2013 4:33 PM Flag

    $4.927 per share in diluted book value. $3.387 per share in cash

    Seems like we ought to be trading higher than $4.22.

    But, I guess the fear is that Lyle buys something the market doesnt like. The upside is if the market likes it, the stock could go higher.

    I just want to make as much money as possible, as soon as possible.

    Im a greedy shareholder I guess.

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    • Here is my old math....

      Didn't sound like they were going to write anything up, rather just book any cash when they get it as profit.

      I presume tax free ?

      I sure wish they would write things up because they write things down in a new York minute.

      Market seems to worry not so much of the value of the parts but rather what Lyle might do with it. Like spend it on something that will be written down to zero within 6-24 months.

      A tender offer or a cash distribution would seem to increase shareholder value. At least in the near term.

      But it isn't about shareholder value as much as it is what Lyles wants. He doesn't need the money and he has proven he will gamble it in the past.

      I think its a good time to ask why they heck weren't they buying back stock when it was $2-3 or even $3.50 ?

      • 1 Reply to smaycs4
      • I agree. "write down fast and write up slow" seems to be the LACO motto.
        Two fourth quarter write ups which may, or may not happen, are;
        the 7m dividend in kind from Ohio received as an investment entry
        increase in 2013, plus the reactivation of the Dania investment. The
        Dania write down in 2012 was a 4m immediate write down, but their now
        5% of some 65m purchase price should be written back up.

        Sentiment: Strong Buy

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