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catoismymotor (32.10)

Black Jack, Slots, Roulette, ETFs, Funds, Texas Hold'em...Wait. What?

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May 21, 2009 – Comments (1) | RELATED TICKERS: MGM , ASCA , LVS

I am not familiar with how casinos must operate according to state and federal laws so please forgive my ignorance if the follow idea is not a legal option.

 

Casinos are great at making money. They keep 90% of the dough that walks through the door. They have the process down to a science. I know the current economy is killing them. Matt Koppenheffer wrote a good article about that very subject yesterday. What I would like to see is the casinos develop and sell mutual funds and ETFs. If they devote a similar measure of care and energy to this endeavor as they do to their brick and mortar resorts then I think it would be profitable venture for them. If a casino said to me that they have a package of stocks that I can purchase that they think are winners I would be inclined to sit and listen to the sales pitch. 

 

How would the whole thing ultimately work? I don’t know. What I am sure of is that the funds and ETFs would not be second rate because that would reflect poorly on the casinos.

1 Comments – Post Your Own

#1) On May 21, 2009 at 11:44 AM, ikkyu2 (99.14) wrote:

Hospitality ain't stock pickin'.

Still, this is not the worst idea I've heard so far by a long shot.  I am pretty sure that casino companies would not be permitted to enter the capital markets by the SEC, because it would make all stock trading look like gambling.

But it is all gambling.  It's a natural fit. 

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