Australian Gaming Hedge Fund

Australian Hedge Fund Begins Betting on Gaming Industry

An Australian hedge fund has entered a niche trading area, the gaming industry. Cheung Capital Management's maiden hedge fund, the Global Gaming Opportunities Fund, will invest in casino and gaming stocks around the globe.

The new vehicle, the Global Gaming Opportunities Fund, is being marketed to Australian investors.

“The global gaming industry includes casinos, poker machine manufacturers, lotteries and bookmakers and has a total market capitalization in excess of $100 billion. In spite of its size, many traditional fund managers and brokerage houses still shy away from the sector,” said Timothy Cheung, portfolio manager of the new fund. “This presents an opportunity for the fund to generate strong returns for its clients through the application of bespoke research.”

Cheung added that Asia’s burgeoning middle class is contributing to the growth of the gaming industry in that region.

“One market the fund will focus on is Macau, the world’s largest casino destination. In spite of the global financial crisis, casino revenues in Macau have grown every year since it welcomed overseas operators in 2004,” said Cheung. Source

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