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Trends with Benefits #43: How the Casino Industry Plans to Digitally Adapt with Howard Jay Klein

February 02, 2021

Listen Time 29:51 MIN

 

In this episode, I chat with Howard Jay Klein about the casino and gaming industry including developments in sports betting, mobile betting and the outlook for traditional brick-and-mortar operators.

Playing the Odds

Howard is author of The House Edge casino investment site on SeekingAlpha. He has worked in casino and gaming for over 30 years working in management with all the big names you'd expect such as Ceasars, Ballys, and even the Trump Taj Mahal. So, he was a great person to talk to about stocks in the space.

Kind of amazing, but perhaps not surprising, is how a recession brings a material change in attitude. Sports betting has seemingly burst onto the scene in the last year, though the pieces were falling in place for several years now with the pivotal moment coming in 2018 when the U.S. Supreme Court struck down prior federal prohibitions against sports betting in states outside Nevada. Many states are still in the process of legalizing and activating operations. On January 6, 2021, New York Governor Andrew Cuomo announced a proposal to enable online sports wagering "at a time when New York faces a historic budget deficit due to the COVID-19 pandemic".

Kind of overshadowed by this excitement are the traditional operators of brick-and-mortar casinos and resorts, but they haven't gone anywhere. Obviously, COVID has had an impact on in-person revenues, but with roll out of a vaccine, will they see a revival and how will they adapt to a more digital and mobile world? Howard offers some great insights.

TREND OR FAD

Listen for Howard's take on in-play betting, cryptocurrencies on slot machines, and SPACs.

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IMPORTANT DISCLOSURES

Please note that VanEck may offer investments products that invest in the asset class(es) or industries included in this blog.

The views and opinions expressed are those of the speaker(s) but not necessarily those of VanEck. Commentaries are general in nature and should not be construed as investment advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Any discussion of specific securities/financial instruments mentioned in the commentary is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index. Information on holdings, performance and indices can be found at vaneck.com.

All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance.

Van Eck Associates Corporation

IMPORTANT DISCLOSURES

Please note that VanEck may offer investments products that invest in the asset class(es) or industries included in this blog.

The views and opinions expressed are those of the speaker(s) but not necessarily those of VanEck. Commentaries are general in nature and should not be construed as investment advice. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Any discussion of specific securities/financial instruments mentioned in the commentary is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary. All indices mentioned are measures of common market sectors and performance. It is not possible to invest directly in an index. Information on holdings, performance and indices can be found at vaneck.com.

All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future performance.

Van Eck Associates Corporation