The gaming industry is large and diverse. However, companies that own casinos are the most well-known. Casino stocks provided investors with excellent returns in recent months, and the industry continues to expand.
Casino operators need tons of government licenses and permits, so they’re very capital-intensive. The largest casino stocks are already established in the industry, so they have a significant competitive moat in comparison to outsiders. Plus, the economy is booming and unemployment is near record-lows, so casinos could see a lot of action in 2020. Now could be a great time to double down on casino stocks.
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Five Casino Stocks You Can Bet On
These five gaming stocks are some of the largest casino operators in the US, and many of them own dozens of properties spread across the globe.
Caesars Entertainment Corporation (CZR)
Caesars Entertainment Corporation is a leading casino operator. It manages both casinos and hotels, and its share prices are up 88% year-to-date. The long-term outlook remains bullish for Caesars.
Last week, Caesars sold Rio All-Suite Hotel & Casino to Dreamscape Companies, a company led by the founder, Eric Birnbaum. Rio was sold for $516.3 million, but Caesars would continue to manage the property for two years with an annual fee of $45 million.
MGM Resorts International (MGM)
MGM is one of the most popular casino companies in the world. The company employees thousands of people and has several U.S. properties. MGM is only up 28% year-to-date but it has a long track record for success. It could be an excellent long-term holding.
Last month, MGM announced that they are looking for investors to partner with them to pursue a joint venture at two prominent Las Vegas properties.
Las Vegas Sands Corp (LVS)
The Las Vegas Sands Corp is another major casino company in the US. The stock of the Nevada-based company is up by 23% since the start of 2019. However, it could go higher over the next few months. With an annual revenue of over $10 billion, Las Vegas Sands Corp is one casino stock that might be worth betting on.
During the last quarter, hedge funds interest in Las Vegas Sands Corp’s shares was flat. A strong performance by the company in the current quarter could create more interest from institutional investors. If hedge funds start buying, share prices could head higher over the coming months.
Stars Group Inc. (TSG)
The Stars Group Inc. made considerable gains this year. The stock price is up by 50% year-to-date and could be set to move higher soon. This Canadian-based casino company is expanding its global business, and investors are excited.
Earlier this month, the Stars Group agreed to purchase the remaining 20% interest in BetEasy, its Australian-based sports betting venture. The acquisition will close within the next three months and it will make The Stars Group the sole owner of BetEasy.
Boyd Gaming Corporation (BYD)
Boyd Gaming Corporation is a Nevada-based casino and hospitality company, generating billions of dollars in revenue annually. Shares gained over 38% since the start of 2019. If the bull market can continue to charge higher, Boyd Gaming Corporation’s share price could follow it upward over the next few months.
Last month, Boyd Gaming Corporation announced a private offering of $750 million senior notes. The notes are due by 2027. The company aims to use the funds to redeem the outstanding 6.875% senior notes due 2023. , Boyd Gaming will borrow to pay the accrued and unpaid interest, redemption premium, expenses, and commissions relating to this offering.
More Casino Stocks You Can Bet On
Casino stocks performed excellently this year and that momentum could carry into 2020. Subscribe to the Dork to follow the latest casino industry news and much more. You can get even more stock market news by following the Stock Dork on Twitter and Facebook. Don’t miss another update, sign up for mobile Dork Alerts to get hot stock picks, insights, and analysis delivered directly to your phone.