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Full House Resorts Inc. Message Board

  • black_swanm black_swanm Mar 14, 2013 12:54 AM Flag

    FLL probably will continue to slide

    I put about $2900 in the stock today and I bid at the trading price and my order was filled pretty darn quick. Before the earnings report I had to bid at the ask if I wanted to buy any stock. This tells me that there are a lot of sellers of the stock. But at this valuation, I will keep buying. I fully expect to lose money on this in the near term but who knows, surprises are everywhere in the market. This is a solid company and will be worth vastly more 5 years from now.

    Sentiment: Strong Buy

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    • LACO is more of a management company. The lion's share of the profits in this industry are made in owning the casino not running it. Full House is just going to keep on growing. Full House is entering a new phase with higher margins that even some have discussed on this board. I agree with the analysts that Full House is severely undervalued. LACO is worth $80 million according to the market yet only has $35 million in sales? I mean that's more than what Full House is worth and Full House has $128 million in sales. Your getting a cheaper stock here as I said. Profits are hard to gauge for both companies as LACO doesn't have a good track record of being profitable. Full House will keep paying down debt and acquire new properties at EBITDA of $10-$15M as is well known. at a multiple of of 5-7 this means that each property should add just about $100 million in market cap. And don't think this management team is gonna stop buying properties. Statement of cash flows also suggests this company will keep generating cash to pay down debt. So, your in a good spot owning this.

      This is why I'm just gonna keep buying stock. I bought 200 more shares today to test. It was all I had left in the bank... The market firmed up. That was good to see.

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