Donaco International owns a casino in Vietnam, literally on the border with China

Donaco International owns a casino in Vietnam, literally on the border with China. Vietnamese are prohibited from entering the casino so essentially all revenue is from Chinese crossing into Vietnam. A Chinese oil rig in disputed territory in the South China Sea saw tensions between the two countries reach boiling point. The Chinese have now withdrawn the oil rig. This de-escalation is great news for the company. Donaco has over $100m in cash, a brand new 5 star, 40 table, 428 room casino on the border with a country with 1.3 billion people. Donaco is possibly one of the best bets on the ASX right now. Plenty of media around on this story, one example is at (VIEW LINK). The stock is trading on a FY15 PE of 13x, on a cash adjusted basis that is a FY15 PE of 9.7x. Our last research note dated 4 July is here: (VIEW LINK)