Real Money Radio: Best Bets
Jim Cramer told "RealMoney" radio show listeners on Monday, that he has noticed a powerful post-Katrina trend. There has been a lot of rebuilding in the Gulf Coast region over the last nine months, he said; and the area that has outpaced all the other building is not roads, schools, hospitals or other infrastructure, Cramer said. The one human need that seemingly must be satisfied is gambling, he said.
Last year's storms destroyed all of the Mississippi river boat casinos, and now these casinos may rebuild onshore, so long as some part of the building touches water. The chairman of the Mississippi Gaming Commission says the state's Gulf Coast casino industry should reach pre-Hurricane Katrina levels in terms of jobs, gambling revenue and tax payments by late 2007, but that numbers will likely exceed pre-Katrina levels by the end of 2007. With all the money being taken in, Cramer said that we must invest as if this trend will continue. The play here is International Game Technology, the company that manufactures and distributes equipment to the casinos.
May 16, 2006
Posted By Hector Rodriguez
Staff Editor, CasinoGamblingWeb.com
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