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[12Invest] - 壹贰讲股

Author: 12investpublic   |   Latest post: Sat, 21 Sep 2019, 11:45 AM

 

[12Invest] 壹贰讲股 -不做标题党,摆明跟你讲我要谈GENTING MALAYSIA!

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先介绍一下这家Resorts World Catskills (RWC),他其实是Empire

Resorts(NYNY)旗下的公司,有着:

 

  •  100,000 sqf 赌场场地

 

  •  322-suite 高级酒店

 

  •  9-hole golf course

 

  •  1,600 架slot machine

 

  •  150 座live tables

 

 

用RM 760 Million 左右的价格收购这家公司49% 的股份,是否值得呢?

 

首先,这家公司我大概看了一下,是在于亏损状态的,尤其是FY 2018,亏损更是高达

USD 138 Millon。

 

但是,这个亏损并不是一直以来都是那么高的,而是在2018 February RWC 进行营业

后才出现的。

 

根据Rhb 的报告,一家赌场通常是在2-3年内才会吧EBITDA 转正(也就是说转亏为

盈),RWC 目前才营业了一年半,也难怪出现了亏损。

 

如果GENM 真的打算收购Empire Resorts后privatize,亏损的carry forward 大概是这样

的:

 

enlightened Q1 FY2019 - RM 268 Million
 

enlightened Q4 FY2018 - RM 720 Million
 

enlightened Q3 FY2018 - RM 400 Million(拿出一次性”亏损”后)
 

enlightened Q2 FY2018 - RM 396 Million

 

总数:RM 1,784 Million 



加上Empire Resorts 49% 被收购的亏损(约RM 288 Million),最后的figure 是:
 

= RM 1,496 Million 


除于公司股票的数量的话,EPS 是25.20 ,股价是RM 3.18,大约算了P/E 是 12.62 ,

这样的价格,会贵吗?


 

在加上Empire Resorts 未来很有可能转亏为盈,你们觉得怎样呢?


 

*P/S:RhB 报告里面有提到公司可能和bet 365 online 合作,不知道会不会实现呢?

 

你们怎么看?记得在下面留言以及分享给你的朋友 

 

FOLLOW US!   记得关注我们!   wink



 

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#GENTING
#EMPIRERESORT
#RWC

 

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Labels: GENM

Related Stocks

Chart Stock Name Last Change Volume 
GENM 3.05 -0.01 (0.33%) 21,149,600 

  Patrick13 likes this.
 
markseven If the company is so good. Why LKT want to sell to GenM? He can keep it until company turn around and selling price will be better right! Just my personal view.
08/08/2019 9:36 PM
Cipta markseven, logic u said
09/08/2019 2:40 PM
PotentialGhost Agree markseven
09/08/2019 10:01 PM


 

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