I think DNA is incredible value at this price. I have topped up with an additional 100k shares in the last week. The market tends to over-punish SP on set-backs, the main ones for DNA being the current legal proceedings against Star Paradise / friction with Star Vegas vendor, rebuilding management and junkets with vendor team departure, and the possibility that Thailand may legalise gambling.
My thoughts on these is that the legal proceedings is not an action against DNA so limited consequences, although possibility it will be to no avail. Management overhaul and junket replacement appears to have gathered momentum and change to Thailand gambling rules unlikely to change too quickly while military are strength behind power.
I am looking forward to next half yearly report to see the turn-around and drive prices. It would be nice to have a decent dividend this time around too. Someone has mentioned that we may be in for a 1.5 cent Div, however management are looking to retain most funds for further expansion, perhaps into Japan or HK?
Also on the positive side management don't appear to be sitting on their thumbs. Debt is being repaid rapidly, new tables, replacement slot machines (at no additional cost), fully utilising all areas with additional businesses, and new partnerships with game promoters. There is a lot to be positive about. GLTAH
DNA Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
