Boyd Gaming (BYD) Launches Sports Betting in Louisiana
Following the legalization of sports betting outside Nevada, gaming companies are steadily expanding sports betting presence in the United States. The recent partnership between Boyd Gaming Corporation BYD and FanDuel Group to introduce FanDuel Sportsbook in the state of Louisiana is a testament to the same.
Sport betting lovers can enjoy now five new FanDuel Sportsbook retail experiences at Boyd Gaming properties across the state of Louisiana — Delta Downs in Vinton; Evangeline Downs in Opelousas; Treasure Chest in Kenner, near New Orleans; Sam's Town in Shreveport; and Amelia Belle in Amelia.
During the third quarter of 2019, the company partnered with FanDuel Group and opened sports books at Blue Chip, Belterra Resort, Diamond Jo Dubuque and Diamond Jo Worth properties in the Midwest. It introduced a market-leading mobile app in Pennsylvania. Encouraged by its performance in Pennsylvania and New Jersey, FanDuel launched its mobile betting app in the state of Indiana. During the second quarter of 2020, the company expanded its partnership with FanDuel Group, which includes retail sports books at seven Boyd properties, mobile sports betting apps in Pennsylvania and Indiana, and the online gaming site in Pennsylvania. During the third quarter of 2020, Boyd Gaming continued to expand its partnership with FanDuel Group, thereby launching mobile sports betting products in Illinois and Iowa.
Legalization of sports betting in additional states bodes well. Apart from FanDuel, the company continues to focus on the Stardust brand to expand its online gaming presence.
Shares of this Zacks Rank #3 (Hold) company have gained 27.8% in the past year, against the industry’s decline of 22.4%. Since the outbreak of coronavirus, Boyd Gaming has been witnessing solid performance by the interactive gaming platform. Thanks to the strategic partnership with FanDuel, the company is optimistic regarding its future in the iGaming industry.
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Key Picks
Some better-ranked stocks from the Zacks Consumer Discretionary sector are Crocs, Inc. CROX, RCI Hospitality Holdings, Inc. RICK and Guess, Inc. GES. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Crocs flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 41.6%, on average. Shares of Crocs have increased 33.9% in the past year.
The Zacks Consensus Estimate for CROX’s 2022 sales and earnings per share (EPS) indicates a rise of 48.7% and 23.2%, respectively, from the year-ago period’s levels.
RCI Hospitality flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 67.7%, on average. Shares of RCI Hospitality have surged 73.4% in the past year.
The Zacks Consensus Estimate for RICK’s 2022 sales and EPS suggests growth of 34.9% and 22.1%, respectively, from the year-ago period’s levels.
Guess carries a Zacks Rank #2. The company has a trailing four-quarter earnings surprise of 97%, on average. Shares of Guess have increased 2.3% in the past three months.
The Zacks Consensus Estimate for GES’s 2022 sales and EPS suggests growth of 38.6% and 4,342.9%, respectively, from the year-ago period’s levels.
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