ORLANDO, Fla., Dec. 27, 2007 -- RedChip Independent, a division of RedChip Companies, Inc., announced today that it has initiated research on Century Casinos, Inc. (NasdaqCM:CNTY).
Tony Telan, MBA, RedChip Research Analyst, wrote in the report:
“Through its diversified global portfolio of properties CNTY differentiates itself from the herd by focusing on smaller scale international opportunities, and by doing so it is well-positioned to hedge risk in the event of a downturn in any one particular market. We believe that as CNTY continues to add properties to its portfolio, the result will be improvements to both the top and bottom lines.”
“At a current price of $6.53, CNTY trades at a P/E (ttm) multiple of 19.6x, which is at an extreme discount to the industry average of 32.6x. Given CNTY’s growing and diversified portfolio, their unique business model, and strong growth prospects, we believe that it deserves a richer valuation; and, therefore, we give it a 'Buy' rating. We have established a 12-month price target of $9.00 based on 28.1x FY 2008 EPS of $0.32,” he concluded.
To view an excerpt of the RedChip Independent initiation research for Century Casinos, Inc., please visit:
http://redchip.com/files/redchipreports/samples/CNTYInitialReportSample.pdf
About RedChip Independent™
RedChip Companies, Inc., is a well-established source of independent research and information on the small-cap market. Dedicated to “discovering tomorrow’s blue chips today™,” its analysts seek out up-and-coming and undiscovered small-cap companies before they show up on Wall Street’s radar screen. For more information please visit RedChip.com or call 1-800-RedChip.
Disclosure
The views expressed in this report and/or any and all other reports associated hereto, (which includes the actual rating assigned to the company as well as the analytical substance and tone of the report), accurately reflect the personal views of the analyst(s) covering the subject securities. No part of the analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. The analyst(s) contributing to this report do not hold any shares of CNTY. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable but is not guaranteed as to accuracy and does not purport to be complete. As such, neither the information nor any opinion expressed constitutes an offer, or an invitation to make or garner an offer, to buy or sell any securities or any options, futures or other derivatives related to such securities ("related investments"). This publication was furnished on the condition that it will not form a primary basis for any investment decision. Each investor must make their own determination of the appropriateness of an investment in any securities referred to herein based on the legal, tax, and accounting considerations applicable to such investor and their own investment strategy. Any opinions expressed herein are subject to change. The subject security is not a client of RedChip Companies, Inc., or any of its affiliates.
For Additional Information Contact:
RedChip Companies1-800-REDCHIP (733-2447)
http://www.redchip.com/
http://info@redchip.com/
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