RE:RE:RE:Recent Google Review of GH Great Northern Casino nukester wrote: Biggest winner is the government.
I recently read an academic report (older from 2010) like 85% of the overall gross Alberta gaming revenue, tables, vlt's, lottery, etc. goes to the government. Kind of odd to me in a sense, prior to reading the report I thought charities took home the lions share of the revenue. Maybe that was just table revenue?
You guys might chuckle, but I play a pretend game where I explain my investments to god.
Believe it or not, I will never knowingly invest in something that harms society on balance.
My oil investments are explained as lifting humanity out of poverty with massive food production and massive transportation opportunities. Climate risks are of secondary minimal concern based on my data.
My natural gas investments are explained as providing affordable heat to family homes and hospitals, Industry, etc. Once again, Climate risks are of secondary minimal concern based on my data.
I always struggle to explain my casino holding (Only one, GH)
I would typically explain that my casino helps fund charities, and creates jobs across the community.
But it is always ackward acknowledging the small number of people harmed by excessive gambling, and drinking. I figure those people will always gamble and drink somewhere, might as well help fund a charity as well as a few investors :-)
All joking aside, I think the government needs to share more overall gaming revenue with the various charities. Kind of hard to make a "Greater good" argument when the government eats the lions share of the revenue. Maybe I am missing some important information ? Who knows?
Other opinions may vary :-)
Cheers,
Nukester
Nukester,
Depends on how we view things.
In Alberta, AGLC has historically shared commissions 15% Charity / 15% Casino Operator / 70% Provincial Govt.
That was adjusted Post-pandemic.
https://finance.yahoo.com/news/gamehost-announces-aglc-temporary-increase-123000509.html Temporary increase for Operators to 17% while Govt reduced to 68%.
We don't discuss this, no need.
You can sense that many operators were and are struggling.
We will see where dust settles after Q1 2025.
All that aside.
Operators and Charities are the "partners" of Govt.
Let's look at it from perspective of the people:
If you play, you'll lose.
When you lose, that loss is shared with Govt, Charity and Operator.
2 of the 3 partners will re-distribute my losses to those in need and those within the province.
1 of the 3 partners will re-distribute my losses with stakeholders, the few stragglers of us still left.
GH is public, yes, but since nobody knows we exist then the bulk of the retained capital goes to Kasking.
As for the humanity side of things, Nukester, I hope you become a Billionaire and allocate your war chest as you see fit with your people and your causes. Those are your decisions to be made, the man who oversees the money. Share the gold coins; when, where and how much, that's your choice to make.
Not here to judge, just admiring the courage and leadership.
Most people are too scared to do what you do.
Stay a leader, they need your guidance.
This is Entertainment, pure and simple. It's a choice made by the customer. Plenty of other options to choose from. It's their money, it's their time, their life. We seek what we like. You ban it, then the entertainment seekers go elsewhere. That's why
Macau exists.
https://en.wikipedia.org/wiki/Gambling_in_Macau You want to discuss gambling, come to the next AGM.
TheBridge is buying food and drink at the Wild Horse pub, as promised with shares at $10. Glad to share stories, the thousands of Canadian retirees who decide to re-invent themselves as investment professionals in their 70's and 80's. That's real gambling. But when you say it's "Investment" they are shielded from other's judgement. Many of them would be better off at a roulette wheel, $500k in chips and a jug of wine.
Nobody here judging you. Just glad to have an American punter with an eye for value stocks across the border.
Keep up the good fight.