Name: This Is the Future of Gambling
Uploaded: 2016-04-07
Duration: 2 min 26 s
Description: Don't bet on casinos.

The casino industry is fascinating to me. Every state seems to be legalizing it. Then there is the online thing. It just a completely dynamic situation. You've got properties in some of the biggest places for. Gambling still. Do you think they're still gonna remain the biggest places for gambling? What's you're kinda view on your portfolio? That's interesting you said that and right now my gaming division is doing extremely, extremely well. But there's a reason. Number one Atlantic City is still by Philadelphia and New York. What people don't understand is that Atlantic City is still the third largest gaming market in the United States with just eight casinos. It's the costs that are too expensive in Atlantic City. That's why your not gonna see these monstrosity properties built anymore. And, at the same time, you're not gonna see them make what they used to make. Right. I guarantee you there's as many casinos that are close to breaking even, are losing money, as there is that make money. So one of the arguments for just kind of you know saving in often is the term for Atlantic City, or just you know making sure Vegas stays what it is today. Is diversification, right? Create an entertainment destination and not necessarily a gaming one. Do you subscribe to that? I presumed so because your company's Expands all these businesses. Absolutely. And let me tell you something, it's been huge for us because we're able to go in and put all these name brand restaurants in them. So it works for us, then people come to go to the restaurants, which helps our casinos. Is this Do you think the future, do you want to be a kind of a full stack, one stop company for entertainment versus being strictly a gaming company. Like a win or something? Definitely, I mean that's what makes our company unique is that. The hardest thing for an operator is the hospitality. The lodging side and the restaurant side. To operate the casino is not that difficult. You go to talk to any casino operator, they struggle with their restaurants. And they struggle with their rooms. Right. Well I've been in the hotel business since I was 26 years old and the restaurant business since I was 25 years old. Okay, so I understood those two sides, and how to market and sell them. And you also learn to be a little tighter and frugal with your money.