April 6, 2022 (Investorideas.com Newswire) The attitude towards gambling in society is ambiguous: some consider it an absolute evil, some see gaming as a worthy entertainment and pastime, and for some, it is a way to make a living. That's why investing in "sinful stocks" is often ethically questionable, but online gambling stocks remain among the most profitable on the stock market. While it's hard to predict for sure what the future holds, many say that investors who focus on diversification of their portfolios with a range of different stocks can make more money than those who don't.
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So, if you are interested in investing in the gambling industry, take a close look at what best gambling companies to invest in are and what best gambling stocks 2022 are promising to buy.
The global Covid pandemic forced many brick-and-mortar casinos to close up, while for the online gambling industry, there was huge momentum for development, so this company's shares are the first on our gambling stock list. The Business Research Company presented a report that confirms that the online gambling market will grow to $92.86 billion in 2023. DraftKings Inc. is one of the leading online gambling companies with tremendous growth since its IPO in 2020. Seeing a potential economic opportunity by starting the online presence, the company was one among the first which offer online versions of casino games such as slots, roulette, and sports betting. The rapid development of the online gambling world contributed to DraftKings Inc. taking the opportunity to expand its platform by launching retail and online sports betting and iGaming.
Boyd Gaming Corp.
It's no wonder that Boyd Gaming is on the rise in the gaming industry, so its online gambling stocks to buy are among the hottest stocks. Regional markets have been a promising growth area for Boyd Gaming, but the pandemic also accelerated the shift to the development of online gambling and sports betting apps. The company is currently the top-performing casino operator with a return of over 40% and has an extensive sportsbook and online gaming business, making it worth considering for its post-pandemic comeback. Boyd's first quarter of 2021 was the strongest in the company's history, with earnings up 28% above the pre-pandemic peak levels.
Evolution is a company that develops and powers fully integrated B2B solutions for live casinos popping up online worldwide. The company provides technology solutions to gaming operators, including online casinos and land-based casinos. Online gambling has been one of the hottest industries over the last few years, so one big reason for the company's growth is the rise of live online casinos. While some of the company's income comes from direct game licensing, the most significant part of revenues Evolution AB receives from the profits it makes from casino customers. Besides, the company expands its market shares and has a clear path to growth over the next five years, increasing its profits.
The spread of online casinos drew the attention of other high-end hotels and casinos developers that have jumped into the online gambling trend. Caesars is a well-known casino chain focused on the hotel business, yet more than half of its revenue comes from online gambling. Before the pandemic, the company announced the creation of valuable strategic alliances with industry leaders in sports betting and online gaming to introduce a compelling set of iconic gaming and entertainment brands. Besides, Caesars weathered the storm of the corona crisis relatively well, with revenue up 1.5 times, while a significant dip in the spring of 2020 didn't drastically impact its stocks which have risen almost nine times from 2016. Currently, Caesars is on the right track to economic development as the stock is up more than 40% year-to-date.
The company's name may not sound gigantic, but with a huge market capitalization of $37 billion, it is the most valuable sports betting and gaming company globally. The company includes such brands as PokerStars, Paddy Power Betfair and daily fantasy betting giant FanDuel, which is DraftKings' most significant competitor. The company continues to make huge profits as the industry grows worldwide, reporting 28% revenue growth in the first half of 2021 compared to the same period a year earlier. Today, gambling is only legal in a few states in the US, but the trend is evident as more states seek to legalize sports betting, the company expects to begin generating positive earnings in 2023.
Penn National Gaming Inc.
Shares of Penn National Gaming rose at the start of the pandemic as investors were impressed with its move to online gambling. While stocks have cooled off since their peak, they are still substantially up from pre-pandemic levels. The company is best known for operating gaming and racing properties, but the shares have become associated primarily with online gambling. Penn works on implementing digital media and gaming strategy to strengthen its position in online gaming through the acquisition of Score Media, compelling content that is expected to drive traffic to its various online and offline resources. Despite the pandemic-related headwinds for its casinos, the company demonstrated strong growth in 2021 and was even profitable. The company assumes that the rapid development of online sports betting could positively impact its performance.
Although the Covid pandemic paused the gambling industry, its ability to adapt to technological advances impeded its rapid recovery. Investing in online gambling stocks is somewhat like gambling, so you always have to remember that you can make money, but you can also lose.
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