Welcome to Market Poolery. It's Wednesday, June 6th and on today's podcast we're going to be talking about gambling and whiskey. So joining me in studio.

From Motley Cool Inside Value, Joe Meager, and from Motley Full Asset Management, Tim Hanson.

I had to get you guys, come on, Gambling and whiskey?

We're also going to dip into the full mailbag.

Let's start with the gambling industry. Tim, there are some people in the world

who are concerned about China's economic slowdown, but apparently Steve Wynne is not one of them.

Wynne is planning to spend a reported $4 billion to build a casino and resort in Macau.

Another casino.

I was going to say, this is his second one in Macau.

Is this? What kind of second plus because he had an expansion of the first also so he's been very aggressive

first and foremost is this the cost of doing business is this a lot of money or is this just sort of look if you're going to build a casino

and resort in Macau you're going to have to spend four billion well it's a big piece of

land and uh and you know the casinos have tended to be luxurious and win is trying to

occupy the market niche as number one super

premium brand in Macau. So they go over the top on luxury. And I think the other thing people need to remember here,

it is a lot of money for a casino development. but Macau, this is in the area called the

Kotai, which is actually a stretch of reclaimed land between two islands, the Cologne Island, which

is the Koh, and Taipei Island, which is the Thai, so Kipp Island which is the tie so co tie so in order

to actually build a casino you can't build a mega casino on top of sand that's

structurally on sound so you have to dig very far down until you hit bedrock.

And so it's actually quite expensive to build the foundation or the sub- foundation of these buildings.

But when, like everybody developing on Macau, is taking a very long-term perspective on the growth opportunities there.

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