Trump’s victory over Kamala Harris may have given Tesla and cryptocurrency stocks a significant boost, but gambling stocks weren’t far behind. Indeed, 2024 marked a milestone year for the industry, which is projected to reach a value of $744.8 billion by 2028. Changing regulations, growing demand for online casinos, and new technological advancements have created an endless array of exciting opportunities for investors. However, the industry also faces challenges, such as the threat of higher tax rates and stricter regulations, which could slow down this growth.
Seasoned marketing affiliate experts from NoDepositBonus.guide had this to say: “The gambling sector faced mixed outcomes in 2024, with strong performance in sports betting but challenges in iGaming.” While stocks like Flutter Entertainment hit all-time highs due to NFL betting, broader declines affected the market. Innovations helped some companies thrive, while others struggled with economic uncertainties.
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MGM Resorts
It’s no secret that MGM Resorts is a powerhouse in the gambling industry, with a strong foothold in both traditional casinos and online gambling platforms. Unsurprisingly, the company saw a 6.8% increase in stock price this year, driven by consistent revenue from its operations across the U.S. and Macau.
While MGM continues to dominate the traditional gambling scene, the company has made significant strides in its online gambling ventures. Earlier this year, its LeoVegas Group subsidiary announced plans to acquire Tipico Group’s U.S. sportsbook and online casino platforms. This deal will allow LeoVegas to operate a proprietary sportsbook across international markets, excluding those already linked to MGM’s BetMGM joint venture with Entain.
DraftKings
2024 was a landmark year for DraftKings, driven by the continued legalization of sports betting across more U.S. states. By the end of 2023, the company’s stock saw an impressive rise from $11 to $34, and its strong performance has continued throughout 2024. A key factor behind the sportsbook’s success has undoubtedly been its innovative partnerships with major sports leagues, which have helped position the company as a leading player in the sports betting industry.
This year, DraftKings turned its attention to Mustard Golf, a specialist in golf betting models and pricing. Through this acquisition, the company can now bring pricing in-house and enhance its live golf content. Mustard Golf’s advanced data models will also help introduce new bet types and open additional markets for DraftKings customers. Another significant move was DraftKings’ purchase of the lottery app Jackpocket for $750 million, which is expected to generate up to $340 million in additional annual revenue.
Las Vegas Sands
Despite various challenges, including fluctuations in tourism and shifting regulations, Las Vegas Sands’ stock has performed well in 2024, reflecting the company’s resilience and ability to adapt to changing market conditions. This is especially true when considering how Las Vegas Sands has successfully navigated the evolving landscape in Macau, one of the world’s most profitable casino hubs, contributing to its positive stock performance.
The company’s strong suit has always been, and continues to be, its focus on high-end luxury resorts, allowing it to maintain a strong presence in Asia. As the Asian gaming market continues to expand, Las Vegas Sands remains a key player, offering steady growth opportunities for investors.
Flutter Entertainment
FanDuel’s parent company, Flutter Entertainment, has certainly made a name for itself over the years, holding an impressive 40% share of the U.S. sports betting market. The betting giant’s stock price rose from $193.45 to $252.88 per share in early 2024 and shows no signs of slowing down as the company continues to position itself for significant expansion in both established and emerging markets.
The company has made several strategic acquisitions, including PokerStars and Fox Bet, which have strengthened its position as a leader in online gambling. Most recently, the company acquired Snaitech from Playtech for $2.56bn to expand its reach in Italy. This news comes after weeks of speculation that Flutter would seek to purchase Snaitech, though no deal has been confirmed as of yet.
Light & Wonder
Light & Wonder, with a market value of $7.64 billion, has seen strong performance despite legal challenges. In Q3 2024, the company’s revenue grew by 12%, reaching $817 million, driven by strong results in gaming, SciPlay, and iGaming. Gaming revenue rose 15%, boosted by a 38% increase in gaming machine sales, while SciPlay and iGaming grew by 5% and 6%, respectively.
However, the company faced a setback when Aristocrat Technologies won a legal case accusing it of stealing trade secrets for its Dragon Train product. This caused Light & Wonder’s stock to drop 19%, losing $1.9 billion in market value. Despite this, the company managed to weather the storm and continues to show strong growth in its key areas.
