The pandemic took a toll on the gambling sector as casinos closed to prevent the spread of the virus. According to the American Gaming Association, US casino revenues dropped 31.3 percent in 2020. Despite that, the gambling industry rebounded in 2021. Here are some of the top gambling stocks of 2021.
According to gambling reviews, online gambling stabilized the sector. Also, it provided investment opportunities. With the legalization of sports betting in the US, the industry caught investors’ eyes. As a result, the S&P 500 Casinos and Gaming Index increased 35.33 percent in the past year. Here are the notable gambling stocks in 2021.
Top Gambling Stocks
Wynn Resorts is an operator of casinos and high-end hotels. Its online sports betting and casino app is available in six states. Also, it remains one of the top gambling stocks of 2021. It reported solid results in the second quarter with its revenue increasing to $990 million from 86 million from the same quarter last year.
Penn National Gaming increased its sportsbook marketing in 2021. As a result, it remained one of the top gambling stocks this year. Aside from sports betting, it has 44 casino properties in the US. Forty hedge funds own stakes in the company.
Las Vegas Sands has a Buy rating on its shares due to its potential investment into the Macau gaming industry. In addition, it has 48 hedge fund holders with their stakes worth more than $1.75 billion. Also, its casino revenue was $533 million, which increased from $281 million in the third quarter of 2020.
According to PPH sportsbook experts, MGM Resorts International specializes in casino resorts. Analysts expect the company to report strong third-quarter results. Also, it launched a sports betting app that targets more than $1 billion in revenue in 2022.
Last but not least is Caesars Entertainment. It is one of the biggest casino companies in the world, with more than 50 properties. Also, it has the potential to become the top online gaming operator. It reported revenue of $2.5 billion in the second quarter.