Spin on words - No where in this first article about Golden acquiring 1000 slots and numerous routes for $20,000,000.00 does it say - non gaming assets. I read it as a package deal - slots and route establishments.
The next word - another used - intangible assets - describing in their opinion to justify their stance - clearly dismisses the transaction as a whole - a package acquisition that entails territorial rights in establishments - meaning all route establishments and 1000 gaming slots - which Is a package deal.
And which I feel is comparable in terms of - another provider like PYD can be paying huge premium fees for floor placements - which is like buying territorial rights - in which to place their slot machines in casino floor spaces via long term contracts - would this not be correct ?
we only need to read one of pyd's former news release pertaining to the premium fees PYD paid to place slots to confirm the floor lease fees are indeed pricy....
so if another decides to separate the transaction and places emphasis - that the majority of cost was for intangible assets - I would agree knowing that 1000 slots are not worth the 20mil. Like duh ....
But the whole point in posting such an article was to show a comparable - and to show that another slot route provider captured a great sum of monies for their assets and numerous route locations.
To me that's great news seeing what they fetched.
- Compare PYD -
does PYD pay premium floor lease space - (in)tangibles but with long term contracts ? Yes.
does PYD have 25 casino placement - loctation routes ? Yes.
Is PYD into gaming and does PYD have 2500+ slots ? Yes.
If one was to say an establishment or casino floor lease space is intangible - would this be correct?
But... What if one walked to any location in which the slot asset was placed can this intangible location or floor lease space be seen or felt ? Of course it could. Would this not be considered a tangible in it's own right - thus justifying the importance and cost of rent or lease thereof - upon sale? Hello !
I think the post I made about Golden's acquisition was a great post - kudos for Golden acquiring a great number of slots and most likely a great number of locations, happy for them.
Posting about another company doing well, is a great article to read and compare peers - reading what another in the industry is acquiring and at what price the industry is commanding. The second article I posted today, confirms the bigger players are indeed on the move - spending big monies and scooping up yet another slot route provider that was said to have a large EBITDA @ 10 million. Think about that one - and think about where PYD is sitting in EBITDA's . This tells me, the gaming industry is doing well.
While others may feel there's no comparables to be made - I feel there are comparables. Goodness, PYD deals in slots and places them in establishments with premium floor fees - and if there are several casinos in which PYD has placed slots - is this not considered a route to go distribute their slots and collect monies - lol
SS you called me Wangy, like another did ?
Double alias slip - right ? (lol)