The Casino sector has been struggling over the past year during the pandemic. Online sports betting stocks have performed well. Conversely, physical and resort casino stocks have taken a dive. With news of re-openings and an economic stimulus on the way, Casino stocks are trending online this weekend.
Performance in the casino sector can be gauged by a popular online betting and casino resort ETF, the BJK. The BJK, or the Baneck Vectors ETF Trust Gaming ETF, is comprised of both online betting stocks and physical casino stocks. Overall, the BJK has underperformed the broader market over the past year.
News of vaccine progress and economic stimulus could potentially drive both the BJK and other gambling stocks to gains. Those stocks have been underperforming, but the social sentiment is that several of them are ready for a breakout. Over the weekend there has been a lot of buzz around gambling stocks and specifically casino stocks.
Here are some of the best Casino stocks to keep an eye on and add to your watchlist over the next week. Almost all of these have strong bullish sentiment from online retail investors and in various social platforms. They could make moves over the coming week with positive economic news.
Trending Casino Stocks to add to your watchlist
|GNOG||Golden Nugget Online||🟢 Bullish|
|MGM||MGM Resorts||🟢 Bullish|
|WYNN||Wynn Resorts||🟢 Bullish|
|BALY||Bally’s Corp||🟢 Bullish|
There are several other casino and online betting stocks to look into. As with any stock, I recommend doing your own due diligence and analysis to determine if you think a stock has some upside potential.
Adding these to a “Casino” watchlist in your favorite app is a great way to keep an eye on their performance over the coming weeks and months.
Online betting is here to stay. With sporting events occurring daily, and few or no fans allowed to attend, sports betting has taken off in popularity. This trend in sports appears to have hit the mainstream and will be a part of future broadcasts and events regardless. Leagues have to make some of their lost revenue back somehow, right?
From a personal perspective, I cannot wait to take a trip back to Vegas to gamble, lose some money and have fun while doing it. Vegas has something unique to offer for everyone and is a popular vacation destination. After COVID subsides, there could be a lot of pent up interest in visiting. I would be willing to bet, that a lot of other people feel the same way. Get me a Four Loko and lets hit the tables!
Viva Las Vegas!
This is not investment advice. There is no magical formula to determine if a stock is going up or down. There are indicators and other tools that investors can use at their own disposal to make their own decision on an investment. The best advice is to do your own research on a particular stock and make the judgement for yourself if you would like to invest. This website takes no responsibility for any potential gains or loses.