Quote:
Originally Posted by Jay Random
Nothing wrong with owning more than one piece of real estate. He can flip the ones he doesn't need.
As I understand it, his gambling licence depends on operating the Coyotes in Arizona. Apparently he thinks that the gambling addicts of Arizona can generate enough revenue to pay for the arena, and if he makes a few bucks off hockey fans too, that's gravy.
He might be right, but the sports gambling business is starting to remind me of dot-coms in early 2000. There might be enough business to make 10 percent of the operators rich, but the rest are bound to go bust. So much for the old rule that the house never loses.
|
You generally don’t develop a property by buying multiple pieces of land and deciding afterwards which one you want to develop. No developer would ever follow this strategy, it’s either a misquote or more BS from these guys.
As far as the gambling license, he has had it for a few years now and done next to nothing with it. If it is that valuable, why is he waiting?