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Non-Tech : Gaming stocks
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To: Dr_of_Microcaps who wrote (42)11/22/2005 7:54:57 AM
From: leigh aulper  Read Replies (1) of 53
 
"The property appraised for over $100 million contingent upon all permits. with just over 29 million issued and outstanding shares that would put the book value at what?"

that puts the value at over $3 / sh,

and that was before Katrina,

since then, the licensing issues are simplier because the new law allows them to be build on land, not water. Also, there is a good chance that that the land will be part of the tax redelopment zone. Also, at the time the appraisal was done they only thought about 120 acres of their 400 acres could be built upon, now it is believed all 400 acres can be developed.

Talk about undervalued. here's a thought, what happens if they can build more than one casino on the sight- yikes
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