you own shares in Nagacorp, really? Definitely the highest...

you own shares in Nagacorp, really? Definitely the highest quality property and I think the by far the best of bad bunch.

I think your EV/EBITDA multiple comparison is erroneous. Star Vegas when it was first purchased by DNA might have warranted a similar multiple to Nagaworld, but that was based on assurances the competitve landscape would remain favourable

Interestingly, part of the reason was the vendor of Star Vegas owned the land which would be required to build any new casinos. I guess we now know how that worked out dont we?

I would imagine Star Vegas will remain at a very low multiple and I would not be suprised if Aristo becomes a much more valuable property, that has a regional monopoly in its border casino operations in Vietnam. Star Vegas is a tiring large casino facing intense competition. Complete opposite of Nagaworld.

Having said that, I wouldn't go near anything in Cambodia. I invested in DNA many years ago now and I wasnt a particular good investor at the time. Sovereign risk wasn't really something I was thinking about, and I to (as did the analysts) erroneoussly compared multiple to other operators and saw DNA as a bargain. It clearly wasn't.


Gun to my head Nagacorp for the win. Maybe some of that sovereign risk is offset by the importance of the property to the government. But you just never know, I wouldn't be suprised if there is a coup at some point in Cambodia. The value of Nagacorp could go to zero in that scenario.




Though, its not been a great investment of late, several years actually. Naga bubbled up real good a few years back.

Is that forward EPS figure from this app accurate?