Feeling Lucky? Buy These 3 Under the Radar Casino Stocks By StockNews

© Reuters. Feeling Lucky? Buy These 3 Under the Radar Casino Stocks

The gambling industry is gaining traction with the easing of travel restrictions and social distancing mandates. Many gambling companies have lately been reporting a significant growth in revenues, to levels higher than their pre-pandemic revenues. Given this backdrop, we think casino stocks Monarch (MCRI), Century Casinos (NASDAQ:), and Full House Resorts (NASDAQ:) should be solid bets now. Read on.The gambling industry is making a comeback with the gradual easing of social distancing mandates. U.S. gambling revenue hit a record $13.6 billion in the second quarter. In-person gambling was the primary driver of the record-breaking second-quarter revenue results. Mobile sports betting and iGaming kept the industry afloat during the initial months of the COVID-19 pandemic as interest in online casinos increased considerably.

According to the American Gaming Association, casinos in nearly every state saw their gambling revenue outdo their pre-pandemic levels in the last quarter. Brick-and-mortar casinos’ revenues were up nearly 10% from their previous high in the third quarter of 2019. In addition, revenue from slot machines was 16% better than in the second quarter of 2019.

The industry has been witnessing remarkable growth, and this momentum is expected to continue. Given this backdrop, we think casino stocks, Monarch Casino & Resort, Inc. (MCRI), Century Casinos, Inc. (CNTY), and Full House Resorts, Inc. (FLL), should be valuable additions to one’s portfolio.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.