You’re right about the real estate. I’m sure it’s up at least 25% from a three-year-old appraisal. (35% nationwide and this particularly hot region). And the beauty of this particular real estate is the location of course and the gaming license which is not easy to get. A casino could (conservatively IMO) bring in $150 million gross with a minimum 20% net profit. And that’s just 50 acres. You do the math and you’re looking at multiple dollars.
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