Bad result but if they ended up leaving they get US$33m on the way out, that isn't too bad a down side.
Market cap at 8c is AU$64 + AU$30 in debt = $AU94m EV and if it is the worse case we lose star vegas we get AU$50m compensation.
That means the current stock price is implying $54m for Aristo. It's worth at least double that, plus no downside from the vendor any more and the possible bonus of a win in Singapore.
Actually think it's good buying now.
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