Performance of Gaming stocks was dismal over the past week with the industry declining 0.5%, against the Zacks S&P 500 composite’s growth of 1.3%. Dismal visitation due to the coronavirus pandemic continues to hurt the industry.
Recap of Last Week’s Most Important Stories
Wynn Resorts Announces Partnership With Minute Media
Wynn Resorts, Limited’s WYNN WynnBET recently announced a multi-year content marketing and affiliate partnership with a global technology and digital publishing platform — Minute Media. The platform owns and operates a diverse network of brands including like The Players' Tribune, FanSided, 90min, and The Big Lead.
Per the agreement, WynnBET will open technology platform to create story-driven content backed by Minute Media's wide range of brands, media personalities and athlete influencers. Notably, the companies will collaborate to produce targeted sports, entertainment as well as lifestyle video and audio content that will educate bettors using insight from WynnBET's expert bookmakers.
Wynn Resorts currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bally's Concludes MontBleu Resort Casino & Spa Acquisition
Bally's Corporation BALY has completed the buyout of MontBleu Resort Casino & Spa from Caesars Entertainment, Inc. CZR. The property has nearly 418 slots, 17 tables, 438 hotel rooms and roughly 14,000 square feet of flexible convention, meeting & exhibition space.
George Papanier, president and CEO of Bally's Corporation, said “MontBleu is a premier entertainment asset that is commensurate with the iconic Bally's brand, and advances our ongoing portfolio diversification strategy.”
Bally's currently has a Zacks Rank #3.
Wynn Resorts' WynnBET Expands Mobile Sports Book Footprint
Wynn Resorts’ WynnBET recently opened its mobile sports book in Indiana, reflecting its constant focus on expanding presence. Notably, this marks WynnBET mobile sports book launch in a fifth state.
Ever since, the first launch in New Jersey in July 2020, WynnBET has expanded its footprint to Colorado in December 2020, Michigan in January 2021, Virginia in March 2021, and Indiana in April 2021. WynnBET also has access opportunities in Iowa, Massachusetts, Nevada, Ohio, and Tennessee, subject to approvals by regulatory authorities in each jurisdiction.
The following table shows the price movement of the major gambling stocks in the last week and the last six months:
In the past five trading sessions, shares of Monarch Casino & Resort, Inc. MCRI have appreciated the most. Moreover, shares of PlayAGS, Inc. AGS have gained the highest in the past six months.
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Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report
Caesars Entertainment, Inc. (CZR) : Free Stock Analysis Report
Monarch Casino & Resort, Inc. (MCRI) : Free Stock Analysis Report
PlayAGS, Inc. (AGS) : Free Stock Analysis Report
Ballys Corporation (BALY) : Free Stock Analysis Report
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