Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Lakes Entertainment Is Dealt A Balance Sheet Flush With Cash

Investors are starting to warm up to the value proposition at Lakes Entertainment (LACO).

Since I profiled the shares in September, they appreciated over 20% after providing investors with a new balance sheet snapshot at year-end that depicted a business that is flush with cash. At year-end, LACO had $87 million of cash and equivalents on the books relative to a market cap of $133 million, or 65% of the market cap in cash.

(click to enlarge)

LACO data by YCharts

LACO develops, finances, manages and owns casino properties with a historical emphasis on Native American properties. Going forward, LACO is focusing on developing its own casino properties, including the Rocky Gap Casino Resort in Maryland which opened in May...

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