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24/01/17
22:18
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Originally posted by savvyinvestor
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im a little surprised to see this hasnt rallied more and has weakened last couple of days.
the vip revenue shouldnt dent earnings significantly so perhaps its concern about the capex and leverage on the development pipeline as well as sydney competitor entrant fears from the crown vip casino in 5yrs time.
i think if it runs up in too short a time to 5.50 i might take profits but otherwise if its a slow zig zag its bettwr to let it slowly trickle up over a year or two.
i dont see major downside risk at around $5, could drop to 4-4.50 odd if development problems at worst, but that seems unlikely to me.
its more a question of when and whether the long term developments will add to earnings and whether that justifies the patience of us retail investors.
i think so imho.
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Patience required. Should do well now the new NSW Premier seems unlikely to reduce liquor licensing laws after midnight in Sydney and now that Queensland will have no restrictions on the Brisbane/ GC casinos.