Cashing in on casinos

The UK-based Global Betting and Gaming Consultants has put together an index of the world's top 50 gambling companies and tracked it for the past 12 months. It found that, in the year to the end of September, the 50 companies outperformed the FTSE 100 by 57pc and the Dow by 48pc.

Warwick Bartlett, founder of the consultancy, said yesterday: "We are going to write to all the leading financial institutions to see if they would like to set up an investment trust or a unit trust because the performance is pretty impressive."

The biggest three constituents are Interntional Game Technology, the Las Vegas slot machine supplier valued at over $6 billion, and US casino operators MGM Mirage and Harrah's Entertainment, both worth over $5 billion. Boyd Gaming, the resort casino operator, was the best performer - up 326pc.

British companies include Rank, William Hill and Stanley Leisure, but not Ladbroke owner Hilton, as it makes most profits from hotels.

Mr Bartlett added: "The index gives you exposure to the dollar, companies worldwide and cash. Investors would like it."