|Bid||34.00 x 2200|
|Ask||35.59 x 1000|
|Day's Range||34.25 - 34.86|
|52 Week Range||18.95 - 36.29|
|PE Ratio (TTM)||6.79|
|Earnings Date||Jul 25, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||36.00|
Perhaps it is because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it is because Las Vegas conjures images of the world’s most flashy brands and businessmen. Regardless of the reason, it is clear that gambling stocks are always among the most popular on Wall Street.Source: Roxanne Ready via Flickr
The Supreme Court recently ruled that individual states can choose whether to legalize or prohibit sports betting, voiding the Professional and Amateur Sports Protection Act of 1992 and paving the way for legalized gambling on all types of sports events outside of Las Vegas. In fact, Bank of America predicts that the gross revenue from legal sports betting will increase from the current $200 million annually to $5 billion-$10 billion in the next five years. Bank of America said it could see incremental annual sales opportunities between $250 million and $1 billion, but I think the upside is even bigger.
Bookmaker Paddy Power Betfair looks to build the largest U.S. online sports betting business with its acquisition of fantasy sports site FanDuel.
The U.S. Supreme Court just overturned a decades-long ban on sports betting, opening the door for many new legal gambling avenues soon. Luckily for investors, gambling and casino stocks were already on fire before this new growth catalysts. Check out these casino stocks today!
Arguably the hottest casino operator of all right now is Penn National Gaming, which stands to benefit disproportionately thanks to its widespread portfolio of regional casinos and racetracks.
There’s a new opportunity for investors to profit from sports betting after Monday’s Supreme Court decision. Please click here for an annotated chart of Penn National Gaming (PENN). Penn National Gaming operates a number of casinos and race tracks in the U.S.
Zacks Investment Ideas feature highlights: Wynn Resorts, Las Vegas Sands, Caesar???s Entertainment, Penn National Gaming and International Game Technology
On Monday, the Supreme Court overturned a 1992 federal law that essentially banned sports betting in most states. With roughly $150 billion in illegal wagers now being freed up in the market, gaming stocks could see huge returns and put up impressive numbers for investors. Here is everything you need to know to get ahead of this trend.
All three major indices closed Tuesday's session in the red, with the Dow Jones Industrial Average snapping an eight-day winning streak and the Dow and Nasdaq suffering their worst single-session drop in three weeks. The Dow fell 0.78%, or 193 points to 24,706, while the Nasdaq fell 0.81%, or 60 points to 7,352, while the S&P 500 fell 0.68%, or 19 points to 2,711. Seattle passed a tax on businesses in the city making more than $20 million annually, and two of the international businesses that were started in the city are voicing their displeasure.
The Supreme Court decided on Monday that the federal ban on sports betting that’s been in place for more than a couple of decades is an unconstitutional measure. In that as many as 32 states are already putting together rules that would govern sports betting within their jurisdiction, however, it’s pretty clear that the sports gambling landscape will be changing soon, and in a big way. To that end, here’s a run-down of the gaming stocks that will see the most benefit from legalized sports betting.
The U.S. Supreme Court ended Nevada's sports betting monopoly and opened that door for other states in a six-to-three ruling on Monday. Market players scrambled to find stocks that could profit from the ruling, and three names have risen to the top of the heap – Scientific Games Corporation ( SGMS), Penn National Gaming, Inc. ( PENN) and International Game Technology PLC ( IGT). New Jersey is likely to offer sports betting at race tracks within weeks because the state brought the lawsuit and will have infrastructure ready to go by Memorial Day.
The scope for the casino operators will intensify if the betting gets legalized in other states as the illegal betting in the United States is valued at billions of dollars annually.
The U.S. Supreme Court on Monday paved the way for states to legalize sports gambling, striking down a 1992 federal law that barred it in most places and setting off a rush by businesses and states to cash in on an expected multibillion-dollar jackpot. The justices endorsed New Jersey's bid to allow such wagering in a ruling that ushers in a new era for the leading U.S. sports leagues, which had sued to block the state's sports gambling law and called such betting a threat to the integrity of competition, fearing game-fixing and other types of cheating.
Gaming, apparel retail and select oil industry groups rallied on Monday, but the market saw profit-taking proliferate across the computer and software sectors.
A Supreme Court ruling Monday stuck down a law banning sports betting in most of the country. But casino giants likely won't be the big winners.
The U.S. Supreme Court decision to allow states to legalize sports betting is great news for investors in the sports and gambling industries, Mark Cuban says. "I think everyone who owns a top four professional sports team just basically saw the value of their team double," he adds. The U.S. Supreme Court decision to allow states to legalize sports betting is great news for investors in the sports and gambling industries, billionaire investor Mark Cuban told CNBC on Monday.
The U.S. Supreme Court rules that states can legalize sports betting. The court upholds the legality of a 2014 New Jersey law permitting sports betting at casinos and racetracks in the state. Nevada's Gaming Control board reported $4.8 billion in sports bets last year but Americans wager "$150 billion illegally each year through off-shore, black market bookies," according to DraftKings CEO Jason Robins.
NEW YORK, May 14, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Penn ...