Tuesday, 31 March 2015
Last updated 3 hours 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…