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Dennis Forst, KeyBanc Capital Markets managing director and gaming analyst, on the expansion of the gambling sector and how this brings in more revenu...
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Money -- congress for what does this mean for the US casino market joining us NASDAQ as far as keybank capital markets gaming analyst.
You know this is -- get -- bandwagon but at the end of the -- does it actually bring enough revenue to the state to make a difference.
Yes it certainly does and that's why.
States that do not have gaming are trying to keep those tax revenues inside their own borders Ohio is an excellent example of that.
Massachusetts's.
Far down the process also.
But Dennis -- while playing in the rush to build more casinos as the market become -- -- -- in this starts to hurt everybody.
I don't think it's gonna hurt everybody.
But their -- -- is.
A saturation point.
And it's usually within a single state.
There's still plenty of expansion crossed the United States and internationally.
Where it's most likely.
To benefit states and then hurt existing casinos are in states that have big Indian gaming -- Properties right now and Oklahoma California.
-- Minnesota.
They're all looking at possibly legalizing.
Casinos within the states and then taxing them heavily they get construction jobs she get full time jobs and you get tax revenues.
Where you're not getting those right now.
Reins that's his point Massachusetts looking to do it will still people from Connecticut so with all -- stealing -- imports you do you actually even.
Should you be investing in these casino stocks.
Well for so I don't know about stealing because basically they're just keeping.
The revenues within their own state I'd say a majority.
Connecticut revenues come from either -- the Boston or New York metropolitan markets.
But overall -- continues to get somewhat larger and apropos to may be comment that was made in an earlier.
-- This program that you had maybe five minutes ago that I was listening to you want the arms dealers no matter how many casinos open and no matter how many.
Border state wars there are the manufactures of slot machines are gonna prosper IG TWO.
Mess -- are all going to be right.
That success.
Well -- where -- online gambling play in all of this if but continues to grow we'll let take money away from the physical casinos.
There's been an awful lot of talk.
Very little action about online game in at least in the United States.
When it was a gray area.
Ten years ago though the market was several billion dollars today it's negligible.
Because it is.
Currently -- illegal in most if not all states the federal government's got to.
Decide on a national basis whether to have on line.
Poker and and that would be.
Probably the first.
Vehicle for -- -- nagged gaming that there won't be very big casinos online where you could play craps replaced slot machines -- -- It'll just be poker playing against.
Other players not against the house.
Dennis will be lots in the industry that's for sure Dennis -- of keybank capital markets thank you very much inducing stuff.
