Hi, yes good result. Massive margin of safety here with A ROE of 60% , Price to sales ratio of <.5 , EV/EBITDA of < 3 and selling at cash backing. Important statement is the advice on caution about potential adverse outcome on the revenue due to the tatts website in NSW. A few months ago they did put out a statement saying they have operated for a while with tatts being the competitor in the victorian market and are well prepared for the NSW market. Good risk reward ratio, trading on a pe of 3. I normally do not see bargains like this available to the extent that there are . Is it because we are looking at license renewal issues in 2014? or because no expansion into other markets has been achieved. Any hint of them getting a foothold into europe or us is likely to put a rocket under its price. happy to hold and considering topping up
JIN Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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