In this article, we discuss the 5 biggest betting companies in the world. If you want to read about some more betting companies, go directly to 16 Biggest Betting Companies In The World.
5. Caesars Entertainment, Inc. (NASDAQ:CZR)
Market Capitalization: $11 Billion
Caesars Entertainment, Inc. (NASDAQ:CZR) operates as a gaming and hospitality company in the United States. Being one of the largest betting companies online and in retail, it owns many brands including Eldorado, Harrah’s, Horseshoe and Tropicana. It was founded in 1996 in Nevada, USA, and has a revenue of $3.47 billion.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm HG Vora Capital Management is a leading shareholder Caesars Entertainment, Inc. (NASDAQ:CZR) with 6 million shares worth more than $193 million.
In its Q4 2021 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Caesars Entertainment, Inc. (NASDAQ:CZR) was one of them. Here is what the fund said:
“Caesars Entertainment, Inc. (NASDAQ:CZR), a diversified casino-entertainment and resort company, underperformed in the period as its quarterly earnings update was viewed as disappointing by investors. The firm highlighted a number of one-time headwinds that ultimately weighed on margins, as well as some negative impacts brought on by the surge in COVID cases. Despite this, we believe that the sizable overall margin improvements Caesars has realized coming out of the pandemic will ultimately prove sustainable in the long run.”
4. MGM Resorts International (NYSE:MGM)
Market Capitalization: $14 Billion
MGM Resorts International (NYSE:MGM) is a Las Vegas-based hospitality and entertainment firm that runs several destination resorts. It is one of the most rapidly expanding online betting firms in the world. Founded in 1986, the firm earns over $11 billion in revenue annually. Their significant casino properties include MGM Grand Garden Arena, Luxor, Mandalay Bar, Bellagio and Excalibur.
At the end of the third quarter of 2022, 53 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in MGM Resorts International (NYSE:MGM), up from 46 the preceding quarter worth $1.14 billion.
In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and MGM Resorts International (NYSE:MGM) was one of them. Here is what the fund said:
“At this stage, we believe several public real estate companies offer compelling long-term return prospects that, in some cases, may include a trifecta combination of growth, dividends, and an improvement in valuation. Examples of public real estate companies that are attractively valued includes: MGM Resorts International (NYSE:MGM). Leading global casino and entertainment company. At its recent price of $40 per share, we believe the company is valued at a significant discount to our reasonable $60 per share estimate of the sum-of-the-parts value of its business.”
3. Evolution
Market Capitalization: $22 Billion
Evolution is a betting company from Sweden. It provides entertainment and online casino services. The company was founded in 2006. It earns close to $550 million in revenue every year. The company is a leading B2B solution provider for casino operators offering live casino, live game shows, slots and more.
2. Flutter Entertainment
Market Capitalization: $25 Billion
Flutter Entertainment is a game betting and online sports platform from Dublin, Ireland. It trades on the London Stock Exchange and is a constant presence on the FTSE100. It is now under the merger umbrella of The Stars Group (TSG), where it is significant in the online and retail area and is a recognizable firm in the world of online betting, sports and entertainment. The company owns Adjarabet, Betfair, BetEasy, FanDuel, Fox Bet, TVG Network, Timeform, SkyBet, PokerStars, Paddy Power, etc. It earns over $5.80 billion in revenue per year.
1. Las Vegas Sands Corp. (NYSE:LVS)
Market Capitalization: $36 Billion
Las Vegas Sands Corp. (NYSE:LVS), together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It is an American casino and resort company, currently owning The Venetian Macao Resort Hotel, the Londoner Macao, Cotai Strips and the Sands. It was founded in 1998 in Las Vegas, Nevada, USA. The firm earns more than $10 billion in revenue every year.
Among the hedge funds being tracked by Insider Monkey, Chicago-based firm Citadel Investment Group is a leading shareholder in Las Vegas Sands Corp. (NYSE:LVS) with 3.4 million shares worth more than $129 million.
In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Las Vegas Sands Corp. (NYSE:LVS) was one of them. Here is what the fund said:
“Certain travel-related businesses remain cyclically depressed not secularly challenged and should rebound as economic strength re-emerges. For example, the business operations of Macau-centric casino and gaming companies such as Las Vegas Sands Corporation (NYSE:LVS) have yet to recover due to the ongoing COVID-19 challenges in China. We expect business to rebound sharply when economic growth recovers just as it did in Las Vegas. Las Vegas Sands Corporationis a global leader in the development and operation of luxury casino resorts in Macau and Singapore, and it maintains a liquid and investment grade balance sheet. It is currently valued at a significant discount to our assessment of replacement cost, and the company’s Macau operations are valued at only 7 times estimated cash flow.”
You can also take a peek at 11 Best Delivery Stocks To Buy and 12 Biggest Militaries in the World.
