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Highlights
- MGM Resorts International (NYSE:MGM) returned over 33% gains in the past 12-months.
- Boyd Gaming Corporation (NYSE:BYD) stock surged over 31% over the past year.
- Penn National Gaming, Inc. (NASDAQ:PENN) revenue rose 53% YoY in Q4, FY21.
The betting stocks are gaining traction ahead of the Super Bowl match between Cincinnati Bengals and Los Angeles Rams on Sunday. Celebrities like Canadian rapper Drake are betting on their favorites in Sunday's super-charged event in Los Angeles’ SoFi Stadium.
The American Gaming Association said that it expects over 31 million Americans to bet on the NFL’s final match of the season. The combined betting amount is likely to be about US$7.6 billion. Let's explore three betting stocks gaining attention.
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MGM Resorts International (NYSE:MGM)
MGM Resorts is a hospitality and entertainment company based in Las Vegas, Nevada. The company allows sports betting through its BetMGM application.
The shares of the company traded at US$47.16 at 10:01 am ET on February 11, up 0.19% from their closing price. The stock value increased by 33.34% over the past 12 months.
The firm has a market cap of US$21.27 billion, a P/E ratio of 19.13, and a forward one-year P/E ratio of 134.49. Its EPS is US$2.45.
The 52-week highest and lowest stock prices were US$51.17 and US$34.11, respectively. Its trading volume was 10,074,320 on February 10.
The company reported revenue of US$3.05 billion in Q4, FY21, while its net income came in at US$116.08 million, or US$0.23 per diluted share. For fiscal 2021, its revenue was US$9.68 billion.
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Boyd Gaming Corporation (NYSE:BYD)
Boyd Gaming is a gaming and hospitality firm. It also offers sports betting services. It is based in Las Vegas, Nevada.
The stock of the company traded at US$71.44 at 10:06 am ET on February 11, up 1.02% from its previous closing price. The BYD stock rose 31.43% over the past 12 months.
The market cap of the company is US$7.99 billion, the P/E ratio is 17.49, and the forward one-year P/E ratio is 13.44. Its EPS is US$4.07.
The stock saw the highest price of US$72.72 and the lowest price of US$50.38 in the last 52 weeks. Its share volume on February 10 was 2,305,542.
The company reported revenue of US$879.84 million in Q4, FY21, while its net income came in at US$109.78 million, or US$0.96 per diluted share. For fiscal 2021, the company reported revenue of US$3.36 billion.
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Image Description: Betting stocks to watch ahead of the upcoming Super Bowl match on Sunday
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Penn National Gaming, Inc. (NASDAQ:PENN)
Penn National is a casino company that owns and operates gaming and racing facilities in the US. It is based in Wyomissing, Pennsylvania.
The shares of the company traded at US$50.33 at 10:10 am ET on February 11, up 0.40% from their previous closing price. Its stock value fell 55.48% over the past 12 months.
The firm has a market cap of US$8.47 billion, a P/E ratio of 20.00, and a forward one-year P/E ratio of 26.81. Its EPS is US$2.50.
The 52-week highest and lowest stock prices were US$142.00 and US$37.76, respectively. Its trading volume was 4,660,811 on February 10.
The company's revenue increased by 53% YoY to US$1.6 billion in Q4, FY21, while its net income came in at US$44.8 million, or US$0.26 per diluted share. For fiscal 2021, its revenue was US$5.90 billion.
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Bottomline
The Super Bowl is one of the most popular sporting events in the US. It is also one of the most-watched TV broadcasts. Many more states have legalized sports over the past year. Arizona, Washington, and Wyoming were among the states that have allowed sports betting recently. Currently, some 30 states in the US have legalized betting.
