3 Gambling Stocks To Buy As Coronavirus Case Counts Plunge

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After almost 11 months, an argument can now be made that the COVID-19 pandemic is finally in retreat in the United States. According to a CNBC analysis of Johns Hopkins University data, new daily average cases have plunged in 43 states. This is good news for the country in general and for the gambling industry in particular. As increasing numbers of people begin to feel safe to visit brick-and-mortar casinos, the industry will see revenue growth.

Like most industries, the gaming and gambling industry was hit hard last year. However, because casinos are gradually reopening this year, a huge pent-up demand for gambling should boost the sales of gambling services and related goods significantly. Because people are desperate to escape their homes, hungry for entertainment and fun after a nearly one-year-long lockdown,  gambling and gaming businesses are expected to thrive.

Against this backdrop, gambling stocks  Boyd Gaming Corporation (BYD - Get Rating), International Game Technology PLC (IGT - Get Rating), and Red Rock Resorts, Inc. (RRR - Get Rating) appear to be promising plays on the industry’s rebound. We think their efficient operating models should help them generate massive profits in the months to come.

Boyd Gaming Corporation (BYD - Get Rating)

Headquartered in Las Vegas, Nevada, BYD is a multi-jurisdictional gaming company that operates through three segments – Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of last October, it operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, and other states.

This month, BYD and Aristocrat Technologies launched BYD’s new digital wallet product – BoydPay. This partnership is expected to help BYD create a unique and seamless payment experience for its customers and drive business growth.

Last year, BYD and FanDuel Group debuted the FanDuel Par-A-Dice Sportsbook in the state of Illinois. BYD expects the FanDuel Par-A-Dice Sportsbook to quickly become Illinois sports bettors’ mobile app of choice as it continues to expand its mobile and retail offerings.

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