Gambling stocks hope to get an NFL boost
Thursday 25 de August 2022 / 07:31
⏱ 1 min read
(New York).- Some would argue that Wall Street is just one big casino. And for investors wagering on gambling stocks, it’s been a big losing bet so far this year. Shares of sports betting giant DraftKings are down about 35% in 2022. UK-based Flutter Entertainment, which owns DraftKings rival FanDuel, has fallen 20%.
Most of the major casino companies are also struggling. MGM and Wynn Resorts are each down around 25%. Penn Entertainment, which owns a 36% stake in Barstool Sports and announced plans earlier this month to buy the rest of the company, has plunged almost 35%. Caesars Entertainment has lost half its value this year. But some investment pros still prefer the brick and mortar casinos, most of which have sportsbooks on site. The hope is that US tourism will continue to pick up— to Las Vegas in particular — now that more people are vaccinated and Covid-19 fears have started to wane.
"I really like Caesars. Heading into football season, there should be a boost for casinos and sports betting," said Lamar Villere, portfolio manager with Villere & Co., which owns Caesars stock. Caesars operates several casinos in Las Vegas as well as in Reno, Nevada.
Villere also said that the renovation of a Caesars' property in New Orleans could help the company. And he noted that while parts of China are seeing a new surge in Covid cases, Caesars can benefit from the fact that it does not have a presence in the international gaming mecca of Macao. MGM, Wynn and Las Vegas Sands (LVS) do have casinos there.
"Caesars is a pure domestic play," Villere said. "You don't have to worry about what's happening with China and Macao."
By Paul R. La Monica
Categoría:Sportsbook
Tags: Sin tags
País: United States
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
Enhancing Responsible Gaming Through Effective Training at PGS 2026
(Lima, SoloAzar Exclusive) – Training, prevention, and technology took center stage at the "Value of Responsible Gaming in Gambling Operations" conference during the 2026 Perú Gaming Show (PGS). Presented by Fernando Calderón Castro, President of the National Gaming Society (SONAJA), the session brought industry leaders together to tackle current challenges and explore strategies for safer, more transparent, and sustainable operations.
Wednesday 22 Jul 2026 / 12:00
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
Martin Ivanov: "Latin America remains one of CT Interactive's key strategic regions"
(Lima, SoloAzar Exclusive).- CT Interactive Chief Operating Officer Martin Ivanov reflects on the company's experience at the Peru Gaming Show, highlights the opportunities emerging in the Peruvian market, and outlines the company's strategic priorities for expanding across Latin America.
Thursday 16 Jul 2026 / 12:00
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