I like your effort but is missing the entire company which exists outside of this one contract. If you read the news articles you will see they have a few contracts and many on the way. Yes, if you want to value the company on this one contract, then your numbers are fair and conservative. Keep sharpening your pencil and try again.
and those numbers will be growing, add Montana, add northern Nevada, add expansion in Las Vegas, add brewery concept, add Illinois, add expansion at Rocky Gap, and many others. Jamul note? That's yet to come. Land at Jamul? Land in Pahrump?