The gambling industry has both top for growth and top for value stocks.
After largely been hit by the pandemic, the gambling industry has entered a new phase. Number of gambling and casino companies are introducing online betting platforms, now. The significance of the online industry has grown during the pandemic. The businesses have understood that the future belongs to the e-market.
The gambling sector is consisting of a broader gaming industry that focuses on leisure, casino gaming, and resort properties. The gambling companies own hotels, racetracks, ski facilities, and run activities that involve betting.
As we head forward into 2021, things are expected to get better for businesses. For investors, in the meantime, they need to follow the stocks from gambling and the market trend—what’s coming up next. So, if you are interested in gambling stocks, here are the three top stocks for long-term investment.
Wynn Resorts (WYNN)
Wynn Resorts (WYNN) is a developer and operator of high-end hotels and casinos. The company has been focusing on its online network. Wynn is a well-established gambling firm in the market worth over $13 billion.
On Feb. 10, 2021, the company’s premier casino and sports betting app, WynnBET was conditionally approved for sports gaming in Tennessee. WynnBET is currently available in certain other US states including New Jersey, Colorado, and Michigan. While it has access to certain other states and has submitted for a license in Virginia.
Moreover, Wynn’s online app has collaborated with Memphis Grizzlies to strengthen its commitment to the Tennessee sports. In partnership with Grizzlies, WynnBET will work on the promotion through high-impact experiences emblematic of the energy for both brands.
Wynn Resorts (WYNN) has made its move and is growing its digital ecosystem. With the opening of its resorts following the closure or restriction amid the pandemic, the company will improve its financial position in the coming quarters. So, Wynn is one of the top gambling stocks for investment in the long-term.
International Game Technology (IGT)
International Game Technology (IGT) is a multinational gambling corporation that specializes in the production of machines and other gambling technology. IGT has been working on expanding its ecosystem across its different segments.
In that premise, the company recently announced the expansion of its historical horse racing (HHR) segment with IGT’s first historical racing machine (HRM) deployments in Virginia.In collaboration with Exacta Systems, the company at Peninsula Pacific Entertainment-owned gaming centers would provide players with their favorite game themes such as Red-Hot Tamales! ® and Fortune Coin®.
In another development, IGT’s subsidiary, IGT Global Solutions Corp.signed a 4-year extension contract with Kentucky Lottery to continue iLottery and mobile app services. With this new contract, the company would target to engage new IGT PlayLottery content to its existing online gaming portfolio.
International Game Technology (IGT) stock has returned over 65% in the last five years to its shareholders. So, it would be an interesting bet in the long-term.
GAN Ltd. (GAN)
GAN Ltd. (GAN) is another prominent gambling stocks in the market. GAN is ranked as the #01 online gaming platform in the US. The company is building the background infrastructure that online gambling is built on. The software services include payment services, player identity validation, and regulatory reporting. And, with the acquisition of Coolbet last year, the company would penetrate the global sports betting market.
A very warm coming event for GAN, the Super Bowl LV helped the company to deliver a record 14.6 million from settled online bets, popping up to a whopping 186% year-over-year. Most importantly, the company has signed a 10-year deal with one of its customers, Greenwood Gaming & Entertainment to license GAN’s patented iBridge integration framework.
Moving ahead, GAN Ltd. seems a promising stock from the gambling sector.