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