Feeling Lucky? Consider Betting on These 3 Lesser-Known Casino Stocks
StockNews
Published Nov 30, 2021 09:09AM ET
Updated Nov 30, 2021 10:31AM ET
Feeling Lucky? Consider Betting on These 3 Lesser-Known Casino Stocks
In addition to their budding online gambling divisions, brick-and-mortar casinos and other gaming outlets have lately been witnessing increasing foot traffic and generating significant revenues. And some lesser-known casino stocks, such as Golden Entertainment (NASDAQ:GDEN), Monarch Casino & Resort (MCRI), and Century Casinos (NASDAQ:CNTY), have been gaining market reach of late, owing to their efforts in providing various entertainment and guest services. So, we think these stocks are now well-positioned to capitalize on the industry tailwinds. Read on.Despite travel restrictions and the shutdown of casinos and other gambling outlets during the worst of the COVID-19 pandemic, the rising popularity and legalization of online gambling and iGaming services have helped the industry rebound since the first COVID-19 wave last year.
The strong vaccination drive, the lifting of travel bans, and the reopening of brick-and-mortar casinos have helped the industry generate increasing foot traffic to brick-and-mortar casinos and to generate billion-dollar revenues in 2021. The global casino gambling market is expected to grow at a 3.5% CAGR between 2021 – 2025.
Also, lesser-known small-cap casino stocks are gaining momentum owing to their increasing market reach and the provision of enhanced entertainment options. So, we think Golden Entertainment, Inc. (GDEN), Monarch Casino & Resort, Inc. (MCRI), and Century Casinos, Inc. (CNTY) are well-positioned to deliver solid returns in the coming months.
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