(Las Vegas) – The major gaming companies, including Wynn, Las Vegas Sands, and MGM, have announced major revamps in their operations.
“Due to the indefinite nature of the sports lockdown, we’ve decided to replace the sports book with an online stock trading floor”, Wynn spokesperson Jesse Livemore said.
Wynn’s moves are being copied throughout Clark County, with Harrah’s Entertainment announcing
The advantage we have over traditional stockbrokers is that we’re viewed as entertainment companies, not as retirement accounts, so we have no obligation to help make money.
Instead of directing order flow to other market makers, the companies are reportedly mulling plans to become high frequency traders themselves.
“In this day and age, with the amount of funny money in the system, stock trading has proved itself to be a vital form of entertainment,” with patrons ignoring the fact that commissions are charged.
“A dollar, a chip, what’s the difference,”
A test run at the Las Vegas Sands, flush with bailout funds, has proven the model.
In addition to its gaming licenses, the companies will need to apply for relevant securities licenses and registrations.