I do agree with the comparison w.r.t to the tax part, but my limited point is that smoking does not involve capital. If I feel rates are hiked, I may smoke 2 instead of 3, there is no burden involved, in fact the opposite happens, there is a relief, a stimulation with the purchase. But with a tax rise where I have to put upfront capital, and what I get to hand to play is decreased, not to mention the odds of winning which for most are against, how can I make money.
The venues of participation should increase, more number of slot machines, low price blackjack etc, just like penny stocks exist. I don’t know if the business is focused more on high stake players, and if true, there will always be such players, so no effect on revenue, but if small players who are concerned with money are also part of the revenue structure, and if these decrease, profits may come down in the proportion of such participation.
The selling is less compared to the previous month for now, so maybe investors are waiting for a reversal or respite.
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