The article discusses how the reelection of Donald Trump is creating lucrative opportunities for private prison companies, especially GEO Group and CoreCivic, amid a surge in detentions and deportations. With contracts from Immigration and Customs Enforcement (ICE) being a major revenue source, both companies are poised for significant growth. GEO Group plans to invest heavily in expanding its ICE services, potentially doubling its capacity and increasing profits. Their stock prices soared post-election, reflecting optimism in the industry connected to immigration policies.
Buses operated by the GEO Group depart from King County International Airport after transferring detainees to and from a plane chartered by U.S. Immigration and Customs Enforcement (ICE) on April 15, 2025, in Seattle, Washington.
During a CoreCivic earnings call, CEO Damon Hininger said: 'This is truly one of the most exciting periods in my career with the company.'
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