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I agree with you, because what many of them do is socialize, talk to Each other About Business or something like that, and they take Advantage of the casino as well as Other events to make friends, see what investments they can get into, it's always like that, the rich are not Stupid , in some way it hurts them a lot to lose money Gambling , that's why they think about Investing.
Only the rich who are desperate and no longer have the spirit to live happily really spend their money on gambling. What are they looking for from gambling if not about entertainment, but if they want to make money then they prefer to build a casino either physical or online. Rich people are not really stupid even though some of them may go bankrupt because of a very fatal mistake. Most of them are people who always want to increase their wealth instead of spending it on unimportant things and I thing the gambling industry may be very interesting for them to invest in.
It is easy for rich people to build their wealth from gambling if they are the owners of a casino. In my country, gambling is illegal, but some rich people build their wealth more and more from gambling. They are the owners of some online gambling sites and they make huge profits from it, but gambling is illegal in my country.