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bobloblaw
1 Comment
Sex May Sell, But Is It Profitable?
"If I turn out to be wrong about Rick's the most likely reason would be that its management is better at dealing with regulation than its competitors."
This space is wide-open. There are scores (no pun) of privately held clubs willing to sell for far less than ten times earnings. Also, that "stratospheric&qu... P/E is going to look a lot lower in four weeks when the next batch of earnings come out. Had you done a small amount of DD you would know this. Rick's management is very good and this is observable. Read the article in the New York Times after Rick's bought the paradise club (Published 1/21/2005) and see how things have changed. Rick's management also understand their legal environment as well as anyone -- this is necessary but not sufficient for success.
The next large acquisition closed today, you don't want to be short.