Daily Archive: October 18, 2020

Valuation: Casino stocks got clobbered by COVID-19. This one is now an attractive bet

“The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.”
Warren Buffett, Fortune, 1999

Few business models are more reliable than a casino’s. People love to gamble, and because the house has a statistical advantage over its customers in every game it runs, the more people play, the more the casino makes. Factor in all the cash people spend on dining and entertainment inside those bright, windowless boxes and you’ll understand why casinos are inherently good businesses.

In normal times, that is.  

COVID-19 turned the world upside down, especially for businesses that depend on big crowds: theme parks, cruise ships, concert halls, and, of course, casinos. While most of these businesses remain severely depressed, casinos—especially the regional ones, where people drive … Read More

Senior PLO official Erekat taken to Israeli hospital after COVID-19 condition worsens By Reuters

© Reuters. FILE PHOTO: Chief Palestinian negotiator Saeb Erekat looks on during a news conference following his meeting with foreign diplomats in Ramallah, in the Israeli-occupied West Bank

By Ali Sawafta

JERICHO, West Bank (Reuters) – Chief Palestinian negotiator Saeb Erekat was taken by ambulance to a hospital in Israel on Sunday for treatment of a worsening case of COVID-19, the Palestine Liberation Organization said.

Witnesses said Erekat, 65, was on a stretcher when he was placed inside an Israeli ambulance outside his home in Jericho, in the occupied West Bank. Erekat, who is also secretary-general of the PLO, disclosed on Oct. 8 that he had contracted coronavirus.

There is heightened concern over Erekat’s vulnerability to the illness because he underwent a lung transplant in the United States in 2017.

“Following his contraction of COVID-19, and due to the chronic health problems he faces in the respiratory system, Dr. Erekat’s

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