I agree I hate dilution as well. However the share register is...

I agree I hate dilution as well. However the share register is quite tight and so widening the base might have some benefits for all especially if it's a good acquisition. Wider market interest which could lead to a re-rating.

If it's rooms being added then likely to see overall cost per room reduced. They could add debt.

Hopefully the acquisition is significant enough to warrant a updated research piece. The previous assumptions might be blown out of water. Growth doesn't seem to be a problem in the digital entertainment world.