GC: NEW CASINOS IN BC? NOT LIKELY

Earlier this week certain media outlets mentioned the possibility of a new destination casino in Surrey, British Columbia. We think this is highly unlikely.

 

On September 24th, the Surrey North Delta Leader published an article on three applicants proposing a destination casino in Surrey, BC.  Clearly a new casino in BC would not be positive for Great Canadian. However, shareholders can relax; the probability of Surrey getting a destination casino anytime in the intermediate future is highly unlikely.

 

One article mentions that the  town of Surrey has three pending applications for gaming facilities.  Two of the applications are for a destination casino, one of which proposed a C$100MM project with a 200-room hotel and 800-seat convention center. The third application is to spend C$25MM to upgrade an existing bingo hall.  Apparently, several of Surrey's council members have spoken out in favor of a destination casino.

 

Curiously, the article doesn't mention the BCLC (British Columbian Lottery Commission), the organization in charge of managing and operating all gaming in the province of British Columbia.  The article also omits the small issue of the  moratorium on new licenses in BC, which will pose a pretty tall obstacle for the two new applicants.  We suspect that this is why the BCLC was not cited in the article.

 

 


SECTOR SPOTLIGHT | Live Q&A with Healthcare Analyst Tom Tobin Today at 2:30PM ET

Join us for this edition of Sector Spotlight with Healthcare analyst Tom Tobin and Healthcare Policy analyst Emily Evans.

read more

Ouchy!! Wall Street Consensus Hit By Epic Short Squeeze

In the latest example of what not to do with your portfolio, we have Wall Street consensus positioning...

read more

Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

read more

McCullough: ‘This Crazy Stat Drives Stock Market Bears Nuts’

If you’re short the stock market today, and your boss asks why is the Nasdaq at an all-time high, here’s the only honest answer: So far, Nasdaq company earnings are up 46% year-over-year.

read more

Who's Right? The Stock Market or the Bond Market?

"As I see it, bonds look like they have further to fall, while stocks look tenuous at these levels," writes Peter Atwater, founder of Financial Insyghts.

read more

Poll of the Day: If You Could Have Lunch with One Fed Chair...

What do you think? Cast your vote. Let us know.

read more

Are Millennials Actually Lazy, Narcissists? An Interview with Neil Howe (Part 2)

An interview with Neil Howe on why Boomers and Xers get it all wrong.

read more

6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

We've been telling investors for some time that global growth is picking up, get long stocks.

read more

Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more

A Sneak Peek At Hedgeye's 2017 GDP Estimates

Here's an inside look at our GDP estimates versus Wall Street consensus.

read more

Cartoon of the Day: Green Thumb

So far, 64 of 498 companies in the S&P 500 have reported aggregate sales and earnings growth of 6.1% and 16.8% respectively.

read more