(MENAFN – MENAFN.COM)
2020 was a tough year for investors. At the onset of the coronavirus crisis, many stocks lost a significant amount of value in a short amount of time. Many people have lost money.
However, one industry that has recovered in recent months is the online casino industry. With land-based casinos around the world forced to close due to the spread of the pandemic, playing online has become the best option for many players.
Here are five casino actions that need to be on your checklist during the rest of 2020.
Penn National Gaming
Like many of the firm’s rivals in the industry, Penn National Gaming’s share price fell rather sharply a few months ago as investors became more concerned about the industry’s future.
But, since then, Penn National Gaming has been up and running again. The American firm, which has 43 plants in the United States and Canada, has seen its inventories increase by more than 500% in the past three months alone.
It is unclear whether Penn National Gaming’s share price will continue to rise in the coming weeks and months, but the company is now expected to beat its growth estimates.
888 Casino is just one of many UK online casino. Although it has the upper hand over many because it has market leading promotions, offers and bonuses. New players can also sign up and start playing without risking their money because 888 Casino has a no deposit welcome bonus available for use.
Listed on the London Stock Exchange, 888 Holdings is a particularly attractive company in terms of shares as it owns both business-to-consumer and business-to-business brands. This is quite rare in the industry, so 888 Holdings has a very unique place.
Since the end of March, following a drop in the company’s stock price, 888 Holdings shares have rebounded well and have risen more than 100% in the past three months.
LVS – or Las Vegas Sands – is an intriguing casino stock to be aware of during 2020. Unlike Penn National Gaming and 888 Holdings, LVS shares remained stable during the coronavirus crisis, failing to rebound after lost about 50% of their value between February and March. But many experts believe LVS shares will rise soon.
This is because LVS has many operations in Macau, where things are starting to return to normal much faster than in the United States. Last year LVS generated nearly $ 9 billion in revenue from its Macau facilities, accounting for more than 50 percent of the company’s overall revenues.
Casino group president and chief executive Sheldon Adelson recently suggested that LVS might reconsider its stance on not investing in Japan if the government changes course on how the industry is taxed and regulated. If LVS enters the Japanese market, investors may be eager to see how the situation evolves in terms of its share price in the future.
Another company that is moving into other markets is the British sports betting and gambling company GVC. Coral, Bwin and Ladbrokes are among the brands already owned by the company.
GVC has its eyes on the United States though, having recently formed a partnership with MGM Resorts International. GVC – which is listed on the London Stock Exchange – saw its share price drop by more than half in the space of a week ago in March, but has since rebounded to a level similar to that seen in the markets before the coronavirus crisis. .
But July was uneven for GVC with the company’s stock price falling again in the past two weeks, making it a riskier casino stock for investors right now.
With Flutter Entertainment’s stock price up about 100% since April, the company has to be included in the hottest casino stock right now.
Listed on the London Stock Exchange, Flutter Entertainment has pursued an aggressive expansion strategy for the past two years.
Already having Betfair, Paddy Power, Pokerstars and Sky Bet, Flutter last year announced an upcoming deal for Canada’s leading gambling company The Stars Group.
With Fanduel another company having been acquired by Flutter Entertainment, the company is clearly targeting the North American market, making it a title worth watching for investors.
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