Thanks for the headsup on Buks. I remember looking at it in the past. CEO seems very matter of fact and practical. The airline industry may hit a rough spot with rising oil prices but the casino should do ok. The expiration of the initial slot machine purchases should boost cashflow dramatically.
The conference call indicates that they still have to introduce new machines to keep up with the trends in the industry and keep customers interested. Said 15 to 20% annual replacement, depending on the location. So I don't think they are going to get the full benefit of the expense expiration. Probably more like 1.6 to 1.7million extra per qtr instead of 2 million. But that's still a huge boost to the bottom line.
Spreads are wide and volume is low so will try to be patient since the positive event won't show up in the financials for several months. No luck Friday but will see if I can snag some shares to hold. Bobwins
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