Seller in this case is churchill downs, so less of an issue here on the compete front. The biggest issue i have is the valuation (12x debt/ebitda) and how it's being funded (basically 100% new debt - increasing leverage 1.5x EBITDA). Timing is terrible - they just bought Plarium. Have to really wonder what the chairman/board are doing.
This call in 20mins is going to be v interesting.....
Seller in this case is churchill downs, so less of an issue here...
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$67.87 |
Change
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Mkt cap ! $36.16B | |||
| Open | High | Low | Value | Volume |
| $67.89 | $68.30 | $67.43 | $47.77M | 704.7K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4131 | $67.85 |
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| Price($) | Vol. | No. |
|---|---|---|
| $67.88 | 363 | 1 |
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