"Whereas TGC shares are utterly rock solid, riskless, shares in a utility. Of course 'riskless' is a relative thing but they are 'riskless' in the sense that treasuries are riskless or normal inner city 1st world real estate is riskless. Low return, super conservative, utilitiy class, no risk to speak of other than insane strutural risk like "the aliens land" or "france attacks tasmania")"
I know many people in the gambling business, and most agree that in a sense it is like having a legal licence to print money. But it is far, far away from "riskless" or being in line with the risk level of US Treasuries or real estate. Casinos -- especially online ones, most especially online ones tied to sportsbooks, which are a lot more sensitive to market conditions -- go bankrupt all the time, and there is seldom any recourse for account holders, let alone stockholders, because the money is simply gone, either through poor management, graft, or somebody getting lucky. The Superbowl this year was an economic disaster for online books, as the linesmakers were clearly so far off the mark that they caused an industry-wide loss of who knows how much (specific dollar figures for 'incidents' such as SB'03 are hard to get hold of.)
TGC has a lot going for it, and I will be among its shareholders by the end of the month myself, but I won't be chortling about my risk-free riches once I've bought a share. I'm confident in it, but not quite THAT confident.
Frank
"With numbing regularity good people were seen to knuckle under the demands of authority and perform actions that were callous and severe. Men who are in everyday life responsible and decent were seduced by the trappings of authority, by the control of their perceptions, and by the uncritical acceptance of the experimenter's definition of the situation, into performing harsh acts. .A substantial proportion of people do what they are told to do, irrespective of the content of the act and without limitations of conscience, so long as they perceive that the command comes from a legitimate authority."
-- Stanley Milgram
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