Sunday, 30 April 2017
Last updated 2 days ago
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.