Posted AT 8:14 AM EST on 19/08/08
Luck no lady to big casinos
Sin stocks, the wisdom goes, are a smart buy when times get tough. Investors have long flocked to companies offering indulgences such as alcohol, tobacco, and gambling during broader downturns, betting that such habit-forming products are relatively recession-proof.
But for the last of these categories, "that's obviously not the case any more," said Howard Blank, vice-president of media and entertainment at Great Canadian Gaming Corp.
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