Quote:
Originally Posted by Prioress Ply
Hahaha. Casino stocks like Churchill Downs (and it is a casino stock) have never done better. CDI has gone from 50 to 200 in the last few years. WYNN is flourishing and so is Penn National. How is that possible if people have no disposable income? The answer is not that gambling is dying. Horse racing is dying.
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Equating stock prices to the economy is hardly conclusive. What you can determine is the Fed's <PRINT> button is working, and that's about all.
There are numerous indications that we've reached "peak gambling", as some casinos, lotteries and poker venues are now reporting stagnating or declining revenue. There's probably still some room for growth in certain areas, as fantasy sports and online gaming becomes more common. And of course, if sports wagering was legalized in more venues, you'd see a mini-boom.
But, if you don't think disposable income is shrinking, especially for those in the lower classes (say, the workers who less than $1K in savings), then you're not paying attention.
