Here's my math: 9 casinos on the river make 1.5B a year. Add a tenth, and that's 150M per casino. Divide 45 o/s shares of Myriad into 150M = $3.3 per share. Multiply that by 85% for costs. $2.8/share
Now this is bare minimum, by smoothing revenues between all, and projecting only one year. How many years does Wall Street usually pay up for? 18-48 months.
What if Myriad earns the lions share of 300 or 450 million and a few others go out of business, which is likely. $4 5 6 7 / share.
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