5 Best Casino Stocks To Buy Heading Into 2024

In this piece, we will take a look at the five best casino stocks to buy heading into 2024. If you want to take a deeper look at the casino industry, then check out 15 Best Casino Stocks To Buy Heading Into 2024.

5. Boyd Gaming Corporation (NYSE:BYD)

Number of Hedge Fund Investors In Q2 2023: 35

Boyd Gaming Corporation (NYSE:BYD) is one of the biggest casino operators in the U.S. The company has been doing well on the financial front lately, having beaten analyst estimates in three of its four latest quarters. The stock is rated Buy on average, and analysts have penned in a $20 price upside based on the average share price target.

As of Q2 2023 end, 35 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Boyd Gaming Corporation (NYSE:BYD). Out of these, the firm’s biggest shareholder is John W. Rogers’ Ariel Investments since it owns 3.1 million shares that are worth $215 million.

4. Wynn Resorts, Limited (NASDAQ:WYNN)

Number of Hedge Fund Investors In Q2 2023: 47

Wynn Resorts, Limited (NASDAQ:WYNN) is a global casino company with operations in the U.S. and China. The firm was in for some good news in October as JPMorgan added the stock to its Focus List, having rated the stock as Overweight and expressing confidence about continued recovery in its China operations.

During 2023’s second quarter, 47 out of the 910 hedge funds tracked by Insider Monkey had bought the casino operator’s shares. Wynn Resorts, Limited (NASDAQ:WYNN)’s largest hedge fund stakeholder is Ken Fisher’s Fisher Asset Management due to a $400 million stake.

3. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Investors In Q2 2023: 50

MGM Resorts International (NYSE:MGM) is one of the most well known casino operators not only in the U.S. but all over the world. However, the firm is facing a bit of friction in Detroit as members of a trade union who also work at its casino have announced plans for a strike.

By the end of this year’s June quarter, 50 hedge funds among the 910 surveyed by Insider Monkey were MGM Resorts International (NYSE:MGM)’s investors. Keith Meister’s Corvex Capital is the biggest stakeholder among these through a $282 million investment.

2. Las Vegas Sands Corp. (NYSE:LVS)

Number of Hedge Fund Investors In Q2 2023: 52

Las Vegas Sands Corp. (NYSE:LVS) operates casinos and resorts in Macau, China and Singapore. The firm is among the handful of global players which have seen their fortunes rise as activity in Macau rises after months of slump due to lock downs.

After digging through 910 hedge fund holdings for this year’s second quarter, Insider Monkey found that 52 had invested in the casino company. Las Vegas Sands Corp. (NYSE:LVS)’s largest hedge fund investor is Ken Fisher’s Fisher Asset Management since it owns 9.5 million shares that are worth $554 million.

1. Caesars Entertainment, Inc. (NASDAQ:CZR)

Number of Hedge Fund Investors In Q2 2023: 65

Caesars Entertainment, Inc. (NASDAQ:CZR) is another iconic American casino operator that is best known for its properties in Las Vegas. The firm has operations in 16 American states. The firm is currently facing the heat from law firms who have sued it and alleged that it failed to protect customers during a cybersecurity attack.

65 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database had bought and owned Caesars Entertainment, Inc. (NASDAQ:CZR)’s shares. Parag Vora’s HG Vora Capital Management is the biggest stakeholder among these through a $305 million stake.

Disclosure: None. You can also take a look at 12 Cheap Internet Stocks to Buy Now and 10 Best EV, Battery and Autonomous Driving ETFs.

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