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Opinions Benj Gallander
Dover Downs Gaming & EntertainmentDDEPAST TOP PICKApr 01, 2014
Stock price when the opinion was issued
As of Mar 28, 2019. Market Open.
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Sold his holdings recently. This is in the gaming industry, with nearby beaches. Has a long history of doing well. Decreased the debt load, but there are a lot of difficulties. Have been losing money and they stopped paying a dividend. Because the stock price has gone down so much, it could get kicked off of the NYSE. If this happens, there will be a lot of selling as it could go down another 30%-50%.
Now down to about where he had bought it at. A lot more competition in the states. On their own in Delaware but have competition next door in Pennsylvania. Have pared their debt back from about $88 million to about $58 million. Eliminated the dividend to deal with increased competition. Has a target price of over $7.74.
Benj Gallander
(BNN has dates shown as April 1/14. April Fools’ joke? I’m taking their word for it because I can’t match anything!!! Bill.)
(A Top Pick April 1/14. Down 32.43%.) Got out of this one at $1.46 last August. When he bought it, the company had a dividend, which they eliminated.