Australian Hedge Fund Bets On Gaming Industry

Apr 20 2010 | 6:49am ET

Australian-based hedge fund firm Cheung Capital Management is gearing up to launch its maiden vehicle, which will invest in listed gaming and casino stocks around the world.

The new vehicle, the Global Gaming Opportunities Fund, is being marketed to Australian investors. 

“The global gaming industry includes casinos, poker machine manufacturers, lotteries and bookmakers and has a total market capitalization in excess of $100 billion. In spite of its size, many traditional fund managers and brokerage houses still shy away from the sector,” said Timothy Cheung, portfolio manager of the new fund. “This presents an opportunity for the fund to generate strong returns for its clients through the application of bespoke research.”

Cheung added that Asia’s burgeoning middle class is contributing to the growth of the gaming industry in that region.

“One market the fund will focus on is Macau, the world’s largest casino destination. In spite of the global financial crisis, casino revenues in Macau have grown every year since it welcomed overseas operators in 2004,” said Cheung.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of