Taking a Gamble on Casinos, And Not In Them
Like everyone else reading VegasChatter, we love Vegas. We love being able to gamble, eat and drink in a variety of different casinos that take us anywhere from Egypt to Italy. While we may be able to find other places in the world with fine dining, good drinking and gambling machines or tables, Vegas has it all under one roof (or roofs). We gamble knowing that the casino has the edge in every game they control. When we lose, someone will always say something to the effect of "these casinos don't build themselves."
Yeah, we know that gambling isn't a winning proposition all the time for us. We're cool with that. We play because it's fun. When we leave Vegas, we pine for our next trip. There are websites to read that may keep us updated on what's going on, but that may not be enough. A couple of drinks and an e-trade baby commercial later we think that maybe we should gamble ON the casinos we love to play at. We spend enough money there, maybe we can contribute to our own income. Besides, if we study our options correctly, it will give us another excuse to read about Vegas.
Over the weekend, we came across an article titled "3 Casino Stocks To Buy For Economic Recovery" and thought about what it would be like to own part of a casino company. Two of the three stocks highlighted in this article are Vegas properties -- MGM Resorts International and Las Vegas Sands. MGM owns almost half the Vegas Strip and Las Vegas Sands owns Palazzo and Venetian, two places we frequent and have definitely helped build.
Nowadays, owning a casino company isn't only about Vegas. In fact, it's becoming less and less about Vegas as almost every state in America has some form of casino gambling (check out this awesome Miami casino). It's not even about America as Macau, Cotai and Singapore are doing gangbuster business for Las Vegas Sands.
Still, for us it goes back to Vegas because that's where our memories are. We once had a dalliance with stocks, but that's in our past. We'd rather study baseball teams and video poker pay tables than company information so we don't see any stock market dabbling in our near future.
Do you gamble on casino stocks? Let us know in the comments below.