The earnings guidance issued today by NLG was to inform the market of the progress.The overstatement of book value inventory $3 million will be brought to account.The figures of hotels gaming revenue of 19 out of 30 hotels in NSW in the top 200 is encouraging.The EBITDA estimate for 2009 of $15 million will place NLG on a forward PE ratio of only 0.4.If it achieves the $15 million it will be re rated.
NLG Price at posting:
0.0¢ Sentiment: None Disclosure: Held