Published on 12 Nov 2021 on Insider Monkey via Yahoo Finance
The 10 Largest Gambling Stocks of 2021
In this article, we discuss the 10 largest gambling stocks of 2021. If you want to skip our detailed analysis of the gambling and casino industry, go directly and read The 5 Largest Gambling Stocks of 2021.
Covid-19 took a toll on the gambling industry, due to the closure of casinos globally. American Gaming Association reported that the U.S. casino revenues plunged 31.3% in 2020, reaching their lowest since 2003. However, with the rise of online betting sites, the gambling and casino industry managed to get back on its feet after stumbling for a while. According to a report published by Research and Markets, the global gambling market is expected to grow at a CAGR of 7%, reaching $674.7 billion in 2025, from $516 billion in 2021.
The rise in online gambling has further stabilized the industry, which now offers lucrative investment opportunities. As sports betting is becoming legal in various states, the industry is catching investors’ eyes, as it saw over $5.95 billion worth of investments in Q3 of 2020, as reported by Forbes. It is estimated that online sports betting will be available to over 96% of the U.S. population by 2025. The sports betting industry alone is expected to generate revenues of $175.8 billion and is projected to reach $200 billion by 2023.