Nu, nothing’s certain, but buying stock does presumably have a positive expected value.
Touching the capital, you can reframe the question as “Buy casino bonds” or “invest in a casino IPO. Besides, even when buying stock from an existing investor, you are sending a signal of the value of that stock—so many mills higher than what the next guy in line would have paid—and that provides working capital in the form of the value of the self-owned stocks, against which the casino can borrow.
Nu, nothing’s certain, but buying stock does presumably have a positive expected value.
Touching the capital, you can reframe the question as “Buy casino bonds” or “invest in a casino IPO. Besides, even when buying stock from an existing investor, you are sending a signal of the value of that stock—so many mills higher than what the next guy in line would have paid—and that provides working capital in the form of the value of the self-owned stocks, against which the casino can borrow.