As Pandemic Fears Fade, Gambling Stocks Betting on a Massive Comeback
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As pandemic fears have faded, casinos are betting on a comeback. U.S. commercial gaming revenue topped $11 billion in the first quarter of 2021. Jackpot Digital Inc. (TSXV:JJ), Penn National Gaming (NASDAQ:PENN), Wynn Resorts (Nasdaq:WYNN), MGM Resort International (NYSE:MGM) and Scientific Games Corp. are among the companies betting that the industry will recover.
Jackpot Digital Inc. is a leading electronic table games manufacturer and mobile gaming provider for the cruise ship industry and regulated casino industry. It also specializes in multiplayer gaming products, including poker and casino games. The company has engaged counsel to pursue business opportunities in the State of Texas, and is considering operating card rooms. The Texas poker market opened in 2015 in form of membership-based card room. There are currently 38 cards rooms and over 500 poker tables in operation.
Penn National Gaming has received final approval from the Maryland Lottery and Gaming Control Commission to acquire the operations of Hollywood Casino Perryville. Wynn Resorts reported financial results for the quarter ended March 31, 2021. MGM Resort International and Entain PLC’s BetMGM are a Glassdoor-recognized Top Place to Work. Adam Greenblatt, CEO of BetmGM, has been named one of the Top CEOs in 2021 in the U.S. Small and Medium Business category on Glass Doorly.
