Gaming and Casino Fund Plays on Old Finance Strategies
The mutual-fund manager has such a strong hunch about the future of gambling, entertainment and leisure stocks, he's started a fund dedicated to those sectors, called, aptly enough, the Gaming and Casino Fund (SYMB:GACFX).
"Gaming is booming worldwide," Ahrens said. "It's been driven by the baby boom generation - on average there's a good deal of disposable income and they are seeking out leisure activities. " Gaming-related stocks should keep ahead of the market for at least the next three-to-five years, he added. Ahrens is no off-track bettor.
In 2003 and 2004, the fund posted gains of 34% and 24%, respectively. Ahrens left the fund in September 2005. The fund manager so far has been able to translate that success to the Gaming and Casino Fund, which rose 6% in April, its first full month of operation.
Different from the Vice Fund, Ahrens's new portfolio focuses on areas that are gaining from gambling's expansion and acceptance in the U. S. casino and globally - particularly in Asia. Gaming nowadays has moved beyond the casinos of Las Vegas and Atlantic City, N. J. State lotteries are a huge business, and casinos are fixtures in hotels, resorts and cruise ships. Lotteries and casinos need support systems, which benefits specialized technology firms.
May 22, 2006
Posted By Hector Rodriguez
Staff Editor, CasinoGamblingWeb.com
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