If you want to take a chance on a stock with high growth potential, consider investing in a gambling stock. The NFL’s sports betting partners, Golden Nugget Online Gaming Incorporated (NASDAQ:GNG) and other online gambling companies are prime examples of gambling stocks with high growth potential. These companies have diversified their business models by acquiring other firms and vertically expanding. This gives them exposure to the UK gambling market.
SciPlay Corporation is a social casino game developer that ranks 12th on our list of Best Gambling Stocks to Buy right now. This gaming company recently acquired Finland-based mobile game developer Koukoi Games Oy. This acquisition will enable the company to improve its online gaming platform and accelerate the expansion of casual gaming. Its recent acquisition of Koukoi Games Oy has boosted its stock price by 22% since March 2021.
Melco Resorts & Entertainment (MCE): Another gaming company based in Hong Kong, Melco is primarily focused on Macao, the only place in China where gambling is legal. However, it also operates a Manila integrated resort and hinted at plans for a resort in Cyprus by 2022. While it has been hit by the recent coronavirus pandemic and travel restrictions, monthly gaming revenue should rise steadily in 2019.
Golden Entertainment: Another one of the best casinos is Golden Entertainment, which has always been a leading gaming company. The company owns more than ten hundred properties, including the ten most prestigious casinos in Nevada and other states. It also owns restaurants, pubs, and even casino slots in cities where gambling is banned. It is also one of the most innovative companies when it comes to investments. Further, this company also offers a range of other benefits to investors.
HDUP: This company owns 49% of Metaverse Vision, a media and gaming company focused on online games, charity fundraising, and online gaming. The company recently acquired the LotteryHub online lottery platform, which will allow it to expand its business across the globe. HDUP is poised to be one of the best gambling stocks to buy. Its plans are gaining momentum as the economy recovers. If the plans for expansion are realized, HDUP is likely to become a winner.
VICI Properties Inc. is another casino stock to consider. This real estate investment trust operates 29 casinos and racetracks across the United States. EVRI ranks 10th on our list of Best Gambling Stocks to Buy Now. BTIG analyst Mark Palmer recently raised the stock’s price target to $30 from $25. He reiterated a Buy rating on EVRI. This casino stock pays a 5.7% dividend and is a good place to start investing in the industry.
Lastly, Draftkings Inc. (DKNG) is another stock to consider for its growth prospects. Its earnings per share increased by 320% in Q2 2021. Its MUP jumped 281% to 1.1 million monthly payers. This growth will continue to propel the company to great heights. Its market cap is over $30 billion and is trading at only five times its forward revenue. The stock is currently trading at five times its earnings, and a hefty valuation.