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Bet On The 9 Best Casino Stocks To Buy Right Now!

Noah Zelvis - August 26, 2021

best casino stocks

For many, casinos provide a form of escapism that’s synonymous with a luxury vacation.

When managed properly, they can also be very lucrative, making them a great investment.

The casino industry as a whole has struggled as a result of the coronavirus pandemic.

Many casino companies were forced to shut down their resort properties for a time to comply with local restrictions.

However, casinos managed to adapt to this new normal fairly quickly.

In many parts of the world, casinos are now open, albeit with strict social distancing requirements.

While revenue is still returning to normal, casinos are starting to see the light at the end of the tunnel.

Here are the best casino stocks to add to your portfolio today.

Best Casino Stocks To Buy

Caesar’s Entertainment (NASDAQ: CZR)

Caesar's Palace Las Vegas

Caesar’s Entertainment is the largest casino company in the United States.

In July 2020, the original Caesar’s Entertainment merged with Eldorado Resorts.

This created a massive gaming empire that runs five nationally recognized gaming brands.

They have over 50 resorts around the world, including eight on the Las Vegas strip.

If you’re looking purely at market share in the US, Caesar’s Entertainment has plenty going for it.

Since their properties aren’t concentrated in one geographical market, it minimizes their financial risk.

COVID-19 restrictions vary, so if one property needs to close completely, they can focus on others to compensate.

Caesar’s Entertainment has also recently acquired William Hill, a digital sports betting company.

Sports betting is very trendy right now, and since it can be done online, there’s huge revenue potential regardless of current coronavirus restrictions.

Caesar’s stock bounced back from the stock market crash swimmingly and has seen an over 100% share price increase since last year.

Now, analysts are predicting that prices could go even higher.

Now is a great time to buy for strong returns later in 2021 and beyond.

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Largest Casino Stocks

MGM Resorts International (NYSE: MGM)

MGM on the Las Vegas strip

The MGM Resorts name is synonymous with Las Vegas glitz and glamor.

Their lavish resorts contain casinos as well as luxury hotels, dining, shopping, and other forms of entertainment.

In addition to their properties in Las Vegas, MGM also runs casinos in seven other U.S. states and in China.

MGM Resorts stock rebounded quickly from the initial stock market crash of the pandemic and is nearing all-time highs.

To combat the limitations caused by Covid, MGM added a focus on their sports betting subsidiary, BetMGM.

This allows them to generate revenue digitally regardless of current coronavirus restrictions.

BetMGM has made several partnerships, including Audacity and the Denver Broncos.

MGM Resorts also has a very diverse portfolio, with properties in a wide range of markets.

This means they haven’t been hit as hard by restrictions in a specific market, like Macau or Las Vegas.

Overall, MGM Resorts is a great portfolio pick.

Their current earnings per share data indicate they are fairly valued.

Since their stock may increase significantly as COVID restrictions continue to ease, now could be a good time for investors to pick up shares of this casino gaming powerhouse.

Casino Stocks To Buy Now

Penn National Gaming (NASDAQ: PENN)

Penn National Gaming has a full portfolio of casinos and gaming facilities throughout the United States.

While they have ownership stakes in a few of their properties, many are leased and managed.

Many of their casinos are part of either the Hollywood Casino or Ameristar brands.

One of the things that makes Penn National Gaming attractive is that their casinos aren’t concentrated in one geographical market.

This means that if they encounter strict coronavirus gambling restrictions at one casino, they will likely be able to balance out those losses with another property in a different state.

To offset the challenges of the coronavirus pandemic, Penn has focused more on online gambling and sports betting this year.

Many states loosened their gambling restrictions this election cycle as well.

This will allow Penn to continue to diversify their operations and draw in money regardless of the current economic climate.

Penn’s stock hit an all-time high in March and only in August is starting to see gains again.

Despite a slow first quarter, they aren’t showing any signs of slowing down.

They recently purchased a new Hollywood Casino property, and they now have a partial stake in Barstool Sports, a popular online betting platform. 

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Full House Resorts Inc. (NASDAQ: FLL)

Full House Resorts is a casino owner and operator based out of Nevada.

They manage five hospitality and entertainment facilities in select states.

The company is drawing interest due to an increase in construction around the country as they make plans to expand.

Full House Resorts also looks to capitalize on machine innovations.

They saw record second-quarter results thanks to the implementation of a new slot machine management system.

Full House garnered $47.4 million in the same quarter of this year, and stock share is up 350% from last year.

Things are looking up for the company, and this may be a good time to jump on board.

Las Vegas Casino Stocks

Las Vegas Sands (NYSE: LVS)

gondolas at the venetian las vegas

As the name implies, Las Vegas Sands is a casino company with properties in Las Vegas, Macau, and Singapore.

They own some of the world’s most iconic luxury casinos, including The Venetian.

The company has a strong presence in the Macau market, which has huge potential for the future.

Las Vegas Sands stock dropped due to the coronavirus pandemic and has been up and down ever since.

They are a very well-established company that had been steadily increasing their revenue and paying dividends up until the pandemic hit.

In a massive change, Las Vegas Sands is selling all its Las Vegas Properties and instead looks to focus solely on its Asian properties.

The company looks to invest that money in growth and getting rid of depth.

These changes should put Las Vegas Sands in a good place as the world comes out of the pandemic.

Red Rock Resorts Inc. (NASDAQ: RRR)

Red Rock Resorts is a casino company based in Las Vegas. 

Right now, they have some of the strongest momentum of any casino stock on the market. 

The company currently owns seven properties in the Las Vegas area. 

These properties are unique because they aren’t on the Strip but are instead spread throughout the greater Las Vegas area. 

This means they could appeal to a different type of customer that wants a more relaxed vacation experience. 

For example, the Red Rock Resort and Casino is located in Summerlin, an area known for golf courses and proximity to the mountains. 

Red Rock Resorts stock has steadily been moving upwards for the last year, with a share increase of over 162% in the last year.

Their earnings per share growth has been some of the best in the entire sector. 

Because Red Rock Resorts’ properties rely more on regional traffic as opposed to international tourism, they have been able to bounce back fairly quickly. 

Best Online Casino Stocks

DraftKings (NASDAQ: DKNG)

Digital sports betting exploded in 2020, and DraftKings is a company that’s leading the charge.

As coronavirus restrictions limited in-person gambling, many people started looking online for similar entertainment options.

This year, DraftKings has signed notable business deals that will likely increase their visibility and bring in more revenue.

They’ve become exclusive partners of many major league sports teams, and they’ve even signed a deal with ESPN at the end of last year.

Many U.S. states are lifting their restrictions on digital gambling, which bodes very well for DraftKings moving forward.

Digital sports betting has enormous potential, as it could make gaming more accessible to those who don’t have a casino accessible nearby.

Their unique business model makes them an exciting stock pick for those interested in online gambling.

Macau Casino Stocks

Macau skyline

 

Melco Resorts (NASDAQ: MLCO)

 

Macau is a city in China that is often referred to as the Las Vegas of Asia.

Melco is a successful casino company based in Hong Kong.

They have a huge presence in Macau and are also expanding into Manila and Cyprus.

The Macau market has grown rapidly over the past decade, although the coronavirus pandemic stalled operations for a while.

The casino industry has been slowly shifting towards this Asian metropolis.

As the economy recovers, there’s plenty of potential for market growth.

Melco’s earnings struggled in 2020 as many of their properties have had to close or alter their operations.

As things return to normal, this could be a great long-term investment for the future.

The company has currently suspended dividends as a result of the pandemic.

Shares right now are affordable, giving investors potential for income as China opens back up.

Wynn Resorts, Limited (NASDAQ: WYNN)

Wynn Resorts has two properties in Macau with locations in Las Vegas and outside of Boston as well.

They rely heavily on their Macau business, which generates over two-thirds of their revenue and profits.

Wynn was hit especially hard by the pandemic, with all of their locations having severe restrictions.

The company saw revenue of $990 million in the second quarter of this year, which is an over 1000% jump from last year at this time.

While they still posted a loss, it is much less than a year ago.

In light of the pandemic, Wynn Resorts has moved into the online gaming market with their WynnBet app.

Wynn Resorts also have expansion plans to move into Japan in the near future.

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Should I Buy Casino Stocks?

Now is a great time to buy casino stocks.

Many popular casino companies, like MGM and Wynn, saw their share prices drop last year.

However, these drops were due to COVID-19 restrictions, not a poor business model.

As a result, casino stocks are relatively affordable right now.

Investing in these companies now while shares are still rebounding could result in huge returns over the next few years as business returns to normal.

Casinos and the resorts associated with them are an integral part of the travel and entertainment industry and won’t be going anywhere anytime soon.

However, the top casinos aren’t resting on their laurels – they’re taking steps into online gaming to ensure they’re still bringing in revenue.

When choosing casino stocks, look at their most recent earnings reports, as well as their earnings before the pandemic.

This will give you an indication of how financially stable they are.

You should also look at their property portfolio to ensure that they are involved in diverse markets.

Casino Stocks: Final Thoughts

The casino industry may have struggled last year, but you shouldn’t write it off.

These companies are making huge comebacks and look to be better than ever moving forward.

In fact, now just might be the right time to invest.

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Noah is an American copywriter on a mission to help clarify the nuances of the financial world. When he's not working, you’ll likely find him running or traveling.