Gambling on Investments

Physician's Money Digest, June2005, Volume 12, Issue 9

Money

As you approach retirement age, youmay find yourself unable or unwilling topartake in the physical activities you haveenjoyed in the past, such as skiing, tennis,biking, etc. So you may be thinking ofengaging in an increasingly popular activityamong aging baby boomers: gambling.In 2003, nearly 75% of visitors toLas Vegas, Nev, were aged 40 and older.According to an article in magazine,the best way to capitalize on thisgrowing trend is to invest in casino andgaming companies. Mark Greenberg,manager of the AIM Leisure fund, recommendsinvesting in Harrah's Entertainment(www.harrahs.com). Harrah'soperates 28 casinos in Las Vegas, AtlanticCity, NJ, and in various locations in theUnited States, and a deal is in the worksto acquire Caesar's Entertainment, making Harrah's the biggest gaming companyin the world. The expected average earningsgrowth for Harrah's is 15% over thenext 5 years, when Greenberg believesthat the stock could reach $125 per share.