Key Takeaways
- Early 2026 data shows heightened investor focus on five major casino stocks: DraftKings, MGM Resorts, PENN Entertainment, Caesars Entertainment, and Las Vegas Sands
- Wall Street analysts project approximately 30% growth potential for DraftKings following its expansion into prediction markets
- MGM Resorts achieved all-time high revenues of $17.2 billion throughout 2024, marking a 7% annual increase
- PENN Entertainment severed its ESPN Bet agreement in November 2025 due to underwhelming performance, transitioning to theScore Bet branding
- Las Vegas Sands discontinued its digital gaming division in October 2025, doubling down on Asian casino operations
Analysis of trading volumes and recent Wall Street research indicates five casino stocks are capturing significant investor interest as 2026 begins.
DraftKings entered public markets via SPAC merger in 2020. As the sole pure-play digital gambling operator among major publicly traded casino companies, it commands approximately 34% of the U.S. online sports wagering market. Market leader FanDuel holds a 44% share.
The company’s 2024 revenues surged 30% to reach $4.77 billion, though profitability remains elusive. Operating losses decreased to $609 million. By Q3 2025, DraftKings had accumulated 3.6 million monthly unique paying customers.
Wall Street observers are tracking approximately 30% upside following the company’s entry into prediction markets. However, user acquisition showed no growth in the latest reporting period.
MGM controls iconic Las Vegas Strip properties such as the Bellagio and MGM Grand. The company also maintains 56% ownership in two Macau casino ventures.
MGM Resorts International, MGM
MGM Resorts delivered unprecedented revenue of $17.2 billion during 2024, representing 7% annual growth. Macau operations saw particularly strong performance with 28% revenue growth to $4 billion as COVID-era restrictions ended.
BetMGM Reaches Profitability Milestone
The company’s digital joint venture, BetMGM, has achieved positive EBITDA. Projections indicate BetMGM will generate $2.75 billion in revenue with $200 million in EBITDA throughout 2025.
PENN Entertainment maintains 44 casino properties spanning 20 U.S. states. The organization purchased Barstool Sports and subsequently launched ESPN Bet through a $2 billion partnership agreement.
PENN Entertainment canceled the ESPN Bet arrangement ahead of schedule in November 2025. Company executives cited disappointing performance metrics. The online sportsbook platform now operates under theScore Bet branding.
Recent financial periods showed modest revenue expansion, though PENN Entertainment continues reporting GAAP losses as digital platform investments persist.
Caesars emerged as America’s largest casino operator following its 2020 acquisition by Eldorado Resorts. The merged entity manages 54 properties nationwide, including eight locations on the Las Vegas Strip.
2024 revenues experienced a slight contraction, declining from $11.4 billion to $11.2 billion driven by softness in Las Vegas and regional markets.
Las Vegas Sands Abandons Digital Strategy
Caesars Entertainment completed a $4 billion acquisition of U.K.-based online gaming operator William Hill in April 2021. The digital segment demonstrated expansion and generated strong profit margins in recent quarters.
Las Vegas Sands maintains exclusive operations in Asian gaming markets. The company runs five Macau casino resorts plus Marina Bay Sands in Singapore. It divested all Las Vegas holdings in March 2021 for $6.25 billion.
2024 performance saw Las Vegas Sands generate $11.3 billion in revenue, representing 9% growth from 2023, alongside $2.4 billion in operating income.
Las Vegas Sands shuttered its digital gaming operations in October 2025, redirecting resources toward its flagship Macau and Singapore casino businesses.
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