Good summary, would love to know of any competitive advantages or an attempt at estimating run-rate cash flows (especially for the aircraft modification business). Ultimately, I don't have any confidence in the business going forward, I think land-based casinos have huge digital headwinds and unless the aircraft modification business gets acquired I don't see a LT niche for them, so it's an easy pass for me.
I agree that the cashflows are not easy to forecast here. Aircraft modification industry is cyclical and dependent on FAA regulations, legacy aircraft supply. Which is why I think this stock is on watchlist. But the investment case is still to be clear
Good summary, would love to know of any competitive advantages or an attempt at estimating run-rate cash flows (especially for the aircraft modification business). Ultimately, I don't have any confidence in the business going forward, I think land-based casinos have huge digital headwinds and unless the aircraft modification business gets acquired I don't see a LT niche for them, so it's an easy pass for me.
I agree that the cashflows are not easy to forecast here. Aircraft modification industry is cyclical and dependent on FAA regulations, legacy aircraft supply. Which is why I think this stock is on watchlist. But the investment case is still to be clear