CDWN - Colonial Downs (1st Horse Track in VA since 1800s) Message Board

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Non-Tech : CDWN - Colonial Downs (1st Horse Track in VA since 1800s)

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To: David Fleming who wrote (12)	7/25/1997 3:41:00 PM
From: H.J. Schellenberg	of 158

David: Hey, someone else actually reads what I'm saying - COOL. As far as your answer. There are three analysts following the stock. I think more are waiting for the next earnings report to start the stock at "Strong Buy". The aggregate estimates are .37 and .92 cents. You already understand the .12 was really .05, so I'll skip that part. I don't think it will scare anyone. This stock is not a normal "owned by 19 year olds with a computer" tech stock. What these people are doing is simple business and mathematical modeling to pull in massive profits. That's why most gambling stocks sport high P/Es - - it is easy money and the cities love the tax revenue and do everything possible to ensure success of the enterprise. Mr Peterson told me some municipalities were already planning to petition Virginia based on Richmond's first month's revenues. AMAZING ! The rest of the year should be at least .31...I would guess like this: 2Q 3Q 4Q YR .07 .10 .15 .31 I think this is an undiscovered gem and have invested VERY heavily after doing due diligance. I see it at $20 MINIMUM in 9-12 months. These guys are professional, courteous, and return calls with direct answers. Truly a class act. As you might know, O.J. Peterson, III turned Pimlico and Laurel Raceways, owned by the Maryland Jockey Club, from big money losers to big revenue generators, even though he could not change many things that were "built into" the operations there (for example, they have to maintain 2 tracks, even though they can only generate revenue from one). This is his chance to "rock and roll" with a brand new operation. His people tell me he is intelligent and very saavy. Dominion Resources' ROE has been very good and they are a solid blue chip. He was a force behind their success. Mr. Peterson plans to eventually open 200 of the 90% margin off-track sattelite betting centers. If you have not seen the Richmond Center, let me tell you it is very nice. Incredibly, he told me they didn't build it as upscale as they could have because they used an existing building. The new Hampton facility will be magnificent and I believe it will be a HUGE success. Look for them to "blow away" next year's estimate and be earning several DOLLARS per share in a few years. IMHO, we are talking 10-bagger here for those who have the patience to stick with great management team and this fine company.

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