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@MultiplesCap

Multiples Capital on X

Interesting to see the recent price action in $MGM, is the market finally waking up to the massive valuation gap? ​Trading at ~6.0x EV/EBITDAR (using standard rent multiples) ​Private Reality: The Northfield Park exit closed at a ~9.4x implied EBITDAR multiple ​Sector Anchor: Current buyout offers for $CZR setting a peer floor at ~9.5x. Management is effectively shorting this spread, divesting regional assets at 9x+ and buying back it's own shares, outstanding shares down 50% over last 5 years. #ubercannibal
@mavix_leon 2 clicks

mavix on X

Evolution $EVO moves to add Playtech $PTEC as defendent in ongoing US defamation lawsuit. Evolution filed with the court accusing Playtech of orchestrating this smear campaign against Evolution in an effort to eliminate competition in the North American marketplace. Today’s filing also accuses Playtech of trade libel, fraud and racketeering, as well as withholding information about its conduct from shareholders despite Playtech CEO Mor Weizer’s active participation in the preparation and dissemination of the defamatory report.

Airbnb 4Q25: Business Update

Airbnb’s fourth-quarter revenue rose 12% to $2.8 billion and GBV 16%, while product improvements and AI spending target booking conversion…

ABNB $100B
Speedwell Memos 2 clicks
@MultiplesCap

Multiples Capital on X

It's always amazing for me to see $expe stock getting pummelled evertime there is AI disruption related sell off in the market. Expedia is a platform, for an AI app to replace it, one will need to build something equivalent, get all the hotels to list it there (as inventory) and manage the bookings. Not that it can't be done but it's not same as replacing a SaaS company. Instead I see Expedia using AI to navigate the change. It's more likely that AI replaces how users find hotels on Expedia vs via google search now than the former happening. Also, it's a super recession proof business model. Time will tell for sure :)

Haw Par Corporation Limited

Haw Par combines Tiger Balm’s stable cash flows with property, leisure and healthcare operations plus stakes in UOB and UOL.

HAWPY $2.9B
smallvalue. 4 clicks