The 5 Largest Gambling Stocks of 2023

In this piece, we will take a look at the five largest gambling stocks of 2023. If you want to take a deeper look at the gambling industry, then read The 10 Largest Gambling Stocks of 2023.

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

Latest Market Capitalization: $9.70 billion

Number of Hedge Fund Investors In Q2 2023: 65

Caesars Entertainment, Inc. (NASDAQ:CZR) is one of the biggest gambling names in Las Vegas. It is also one of the oldest companies on our list since it was set up in 1937. As October kicks off, the firm is facing some turmoil in Vegas, as it is negotiating with a union of Las Vegas workers that have already authorized a city wide strike.

By Q2 2023 end, 65 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Caesars Entertainment, Inc. (NASDAQ:CZR). Out of these, the firm’s biggest shareholder is Parag Vora’s HG Vora Capital Management since it owns six million shares that are worth $305 million.

4. Wynn Resorts, Limited (NASDAQ:WYNN)

Latest Market Capitalization: $10.28 billion

Number of Hedge Fund Investors In Q2 2023: 47

Wynn Resorts, Limited (NASDAQ:WYNN) is another big Las Vegas casino operator, and it also has a global presence. The firm has beaten analyst EPS estimates in two of its four latest quarters, and analysts have priced in a $37 share price upside based on the average share price target.

Insider Monkey’s second quarter of 2023 survey covering 910 hedge funds revealed that 46 were the firm’s investors. Wynn Resorts, Limited (NASDAQ:WYNN)’s largest investor among these is Ken Fisher’s Fisher Asset Management through a $400 million stake.

3. MGM Resorts International (NYSE:MGM)

Latest Market Capitalization: $12.53 billion

Number of Hedge Fund Investors In Q2 2023: 50

MGM Resorts International (NYSE:MGM) is an iconic Las Vegas casino company known for its grand casinos, and like other large operators, the firm also has a presence in China. Along with negotiating with striking workers in Las Vegas, the firm is facing similar turmoil in Detroit where workers have also authorized a strike.

During this year’s June quarter, 50 out of the 910 hedge funds tracked by Insider Monkey had held a stake in MGM Resorts International (NYSE:MGM). Keith Meister’s Corvex Capital is the biggest shareholder out of these, owning 6.4 million shares that are worth $282 million.

2. DraftKings Inc. (NASDAQ:DKNG)

Latest Market Capitalization: $13.11 billion

Number of Hedge Fund Investors In Q2 2023: 40

DraftKings Inc. (NASDAQ:DKNG) is one of the biggest sports betting companies in the world. It offers its platform in more than a dozen countries. Its reliance on margin friendly digital operations has enabled it to work well during inflation since the firm has beaten analyst EPS estimates in all four of its latest quarters.

By the end of Q2 2023, 40 hedge funds among the 910 polled by Insider Monkey had bought and owned DraftKings Inc. (NASDAQ:DKNG)’s shares.

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

Latest Market Capitalization: $34.19 billion

Number of Hedge Fund Investors In Q2 2023: 52

Las Vegas Sands Corp. (NYSE:LVS) is an American firm that has casinos and resorts in Macau and Singapore. The firm’s EPS has grown consecutively over its four latest quarters as a recovery in Asia helps casino operators. The stock is rated Buy on average and analysts have penned in a $24 share price upside based on the average price target.

As of June 2023, 52 out of the 910 hedge funds part of Insider Monkey’s database were the firm’s investors. Las Vegas Sands Corp. (NYSE:LVS)’s largest hedge fund investor is Ken Fisher’s Fisher Asset Management through a $554 million stake.

Disclosure: None. You can also take a look at Top 30 Most Hated Countries in the World and 10 Best EV, Battery and Autonomous Driving ETFs.

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