Aristocrat Leisure Limited
Favourable judgment of the Federal Court in respect of the Guy litigation: Aristocrat Leisure Limited (ASX: ALL) went into a trading halt on February 02, 2018; and later indicated that it welcomed the judgment of the Federal Court in respect of the Guy litigation, which dismissed the claims made by Ms Guy, the applicant, in their entirety. The group aims to strive to scrupulously uphold the obligations with respect to EGM compliance and will continue to support balanced and fact-based harm minimisation initiatives, and do more where it can, recognising that these issues are complex and require collaboration across industry, regulators and the community. In January 2018, Aristocrat Leisure indicated that all conditions and requirements for closing under its agreement to acquire social gaming company Big Fish Games from Churchill Downs Incorporated have been satisfied. ALL stock has risen 20.86% in last six months as on February 01, 2018 given the financial performance for FY17. However, the stock trades at a higher level and looks “Expensive”.
Gateway Lifestyle Group
Divests two non-core assets: Gateway Lifestyle Group (ASX: GTY) has entered into unconditional contracts to sell two of its non-core assets for $18.4 million, which is in line with the book value. The first asset that GTY is divesting is ‘Gateway Lifestyle Bass Hill’ for a sale price of $10.4 million, which is expected to settle in July 2018. The other asset that the company is divesting is ‘Gateway Lifestyle Rainbow Waters’ for a sale price of $8 million, this is expected to settle in February 2018. Moreover, these divestments are as per the group’s asset recycling strategy. Meanwhile, the group has retained a 7% 2018 guidance for distributable earnings and might exceed $50 million in long-term recurring revenue. Meanwhile, GTY stock has risen 2.49% in three months as on February 01, 2018. To see the potential of the provided outlook translating into benefits, we have a wait and watch approach on the stock at the current price.
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