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The gambling industry has been significantly impacted in recent years, especially by the COVID-19 pandemic, where commercial casinos lost 45,600 operating days in 2020, according to the American Gaming Association.
Nonetheless, with all the challenges and opportunities that this global pandemic brought with it, we can safely say that 2022 has been rather rewarding, where things took a turn for the better, especially as increasing countries have regularised online gambling. The scene was not totally unblemished, but we can look at 2023 with hope. So, which are the gambling stocks worth investing? Let’s explore this, and other variables in further detail…
MGM Stock
Despite the Macau storm, the MGM stock is envisaged by Casino.org as having “the ingredients to endure ongoing turbulence in the largest Asia-Pacific casino hub”. MGM Resorts owns the most impressive collections of properties in the casino industry and half of BetMGM – the biggest internet casino name in the US. This stock is thus backed up by a sturdy balance sheet that further consolidates its position in the stock market, making it a great target for investors.
Las Vegas Sands
This international giant casino has a market cap of nearly $30 billion. Case in point, Las Vegas Sands is a money mine, having earned an upgrade to its stock Relative Strength (RS) Rating, in December 2022, from 73 to 85. This 85 rating puts Las Vegas Sands stock in the top 15% of stocks, regardless of industry, for price performance. Definitely an attractive operator to invest in!
Penn National Gaming
The company owns 44 properties in 20 states, and it has also formed a strategic partnership with Barstool to promote its own sportsbook. With the stock becoming primarily associated with online gambling, and with its newfound acquisition of theScore to boot, the prospects for this company are promising.
A word of caution
When investing in gambling stocks, it is worth bearing in mind that like any other investment, they are subject to risk given the typical fluctuations of the market and of the industry itself. Thus, risk-tolerance is not a valid excuse to avoid making your own research and networking.
Of course, when it comes to researching resources, you also need to keep your eyes peeled for great sites. And this includes your search for popular a no deposit bonuses guide and any other search topic that may strike your interest. Regardless of what you would like to be informed about, being selective and critical when it comes to information sources is key, especially in this age of information overload.
Flourishing iGaming industry: the main highlight of the year
As more and more countries have recognised the benefits of regulating iGaming, players can now gamble more safely and securely.
In fact in between January and October 2022, iGaming revenue amounted toa staggering $3.21 billion; a rise of 39.9% on the same period in 2021.
The industry is decidedly growing, especially in the US, most notably in the state of Michigan. In fact, two years after the advent of their iGaming operations in January 2021, Michigan’s legal gambling money is mostly being wagered in internet casino websites.
The online gambling sector has ballooned in ways unprecedented, as casinos are putting palpable effort into ensuring an efficient, fair, and secure gambling experience. The following are top online gambling trends in 2022 that have strengthened the gambling industry:
Cryptocurrency
Players can now deposit and withdraw money from their crypto wallet.
Mobile gambling
With more casinos using HTML5 in their website design, users can play on the go enjoying the same efficiency as when playing on their desktop.
Social gambling
Enabling multiplayer gameplay dynamics through chats and Facetime, social gambling is the new substitute to human interaction in the brick-and-mortar casino.
VR-based games
VR-themed casino games are further providing an immersive experience, resembling that of a real-life casino.
Smartwatch gambling
Funding your account, playing your favorite game, following your bet, and withdrawing your earnings can now be done through your very smartwatch!
Prospects for 2023
Although no claim can be made for certain, there are certain occurrences that are bound to take place in 2023, given the current data. On a general note, the lucrative revenue figures reported in 2022 bode well for the industry, which is expected to undergo further growth on various fronts.
Moreover, as forecasted by Spectrum Gaming Group, further internationalization of the gaming industry with other US operators is expected, as we have seen in the recent purchase of LeoVegas by MGM Resorts International.
Finally, according to Rupantar Guha, Principal Analyst in Thematic Intelligence Team at GlobalData, mobile gaming will represent over half of gaming industry revenues in 2030. Furthermore, Guha highlights that “The gaming industry is in the throes of a transformation driven by themes such as 5G, augmented reality (AR), virtual reality (VR), esports, cloud gaming, and the metaverse. As these themes mature, competition will intensify among traditional game publishers, tech giants, and companies in other sectors (e.g., retail and tourism). As a result, several leading game publishers will become M&A targets, with tech giants the likely acquirers.”
