Agree with your assumption BLK.
AAD's near term price may well eclipse the covering analysts target of $2.05. Gary Weiss, Chairman of Ardent, said “The sale of the Bowling & Entertainment Division will strengthen Ardent’s balance sheet and enhance the Group’s capacity to continue the roll out of Main Event entertainment centers in the United States and fund new attractions at Dreamworld. Ardent expects to book a profit before tax in the range of $22 million to $26 million on the sale, with the net proceeds of circa $150 million (after sale related items) to be used to repay existing bank debt.
AAD Price at posting:
$1.98 Sentiment: Buy Disclosure: Held
