Hey George;
The answer to your question is yes based on the under lying fundamentals of the company. The land is only being carried on the balance sheet at just over $4,000,000.00 It was appraised for $8,000,000 in 1995 contingent upon all permits to build! The land could be worth as much as $50,000,000.00 according to McDonald & Co. (hidden asset) If you look at there mrkt cap they are only trading at
less then $20,000,000.00, not even one times revenues. Check out CCL at 9.7 Revenues or $21 Billion. or the equivalent of $5.00
In closing, revenues alone should reach $175,000,000 to $250,000,000 annually from gaming. (see press release) According to McDonald & Co. finally the stock reach $5.00 on much thinner reasons back in 1992! |
