Six months after abruptly resigning as sole manager, president and treasurer of the $48 million Vice Fund, Dan S. Ahrens is looking to casinos, lottery programs and video games as his next bet.
Following the premise for the Vice Fund, which invests in gambling, tobacco, weapons and alcohol interests, the Gaming and Casino Fund will invest 80% of assets in casinos of all types, from cruise ships to hotels and resorts, gaming manufacturers and companies that support state lottery programs. The fund will also invest in electronic and video game developers, manufacturers and distributors. The fund will be based in Dallas.
"When you look at the major markets in Las Vegas and Atlantic City; regional expansion in the Midwest, Gulf Coast and other areas; plus consider Native American gaming, lotteries, pari-mutuel and sports betting; I think many people agree that gaming may continue to expand for years to come," Ahrens said. "There's also great emerging opportunities in the Far East, Europe and other international markets, plus tremendous growth in many forms of online gaming around the world."
Ahrens left the Vice Fund voluntarily in September, nearly two years after the Securities and Exchange Commission and the U.S. Attorney for the Southern District of New York brought civil and criminal charges against Vice Fund predecessor Mutuals.com, alleging conspiracy to commit securities fraud, mail fraud, wire fraud, late trading and market timing.