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Couldnt you have at least waited more than 1 day before stealing that joke?
Could have, but I have no other choice because I’m in the middle of a modelling test for a small pe firm and they’ve given me time until tomorrow morning. They gave me a case for one of the casinos they bought and asked me to do a DCF on that. I did but am probably way off on the capex for a casino. I used historical average and the average for that over a 5 yr period is -6%. Which I don’t know if that’s good or bad for a casino and over 15 years is about 48%. What do you think of the case? Thank you in advance.
..
well capex is one of two things:
1) maintenance
2) growth / new development etc
1st one you can probabaly get from past financial statements, 2nd one you can assume 0 (unless youre assuming casino is building new XYZ which results in ABC new revenue etc).
Depreciation methodology should be in financial statements too. could be straight line or reducing balance. so just do it on the opening balance + any new maintenance capex.
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