The hedge-fund honcho once dubbed Dov Charneys moneyman is now betting he can build a casino empire with a little help from the coronavirus, The Post has learned.
Soo Kim, co-founder of hedge-fund giant Standard General, has already scooped up three casinos on the cheap since the pandemic struck in March, including Ballys Atlantic City Hotel & Casino which he bought for $25 million, the price of some New York City metro-area homes.
But Kim, a 45-year-old Queens native, sees more such opportunities opening up as the pandemic drags on, squeezing gambling houses loaded down with debt.
A lot of casino companies, due to their balance sheets going up too high, are in tough shape now and are not prepared to take advantage of this regional opp…
Read the full article at: https://nypost.com/2020/07/26/hedge-funder-gambles-on-coronavirus-to-build-casino-empire/