Jason Ader, Founder and CEO of Ader Investment Management, discusses what online gambling will do to the gaming industry.
Shares of Caesars Entertainment were up over 14% last week after the casino giant said they would spin off its online gaming unit.
The move underscores what could be a massive catalyst for gaming stacks as state and local governments explore ways to legalize online gambling.
How will it happen, how soon will it happen if it does, and what will happen to gaming companies if and when it happens?
We talk numbers with Jason Ader, Founder and CEO of Ader Investment Management, a family office that specializes in gaming and lodging. Ader is on the Las Vegas Sands board of directors and in a previous life, was a top-ranked gaming analyst by Institutional Investor magazine for nine years straight.
“If you’re able to bring wagering – sports wagering, poker, baccarat, slots – real money to people’s homes, it’s going to have a devastating consequence on riverboat gaming, Native American gaming, [and] Las Vegas,” says Ader. “It’s probably the single worst threat to land-based casinos that I’ve seen in twenty-plus years.”
As one of the most respected names in the gaming business, what does he see next for the industry? Watch the video above to find out.
[Disclosures: Jason Ader is a board member of LSV. His firm, Ader Investment Management, just successfully waged a proxy battle and put Ader Investment Group’s vice president on IGT’s board in April.]