TLDR
- Online gambling legalization is spreading across U.S. states, driving growth for both traditional casino operators and pure-play online betting stocks.
- Macau rebounded strongly post-COVID, with MGM’s operations there up 28% to $4 billion in 2024 and Las Vegas Sands posting $11.3 billion in total revenue.
- DraftKings grew revenue 30% to $4.77 billion in 2024 but remains unprofitable, with an operating loss of $609 million.
- Penn Entertainment terminated its ESPN Bet partnership early in November 2025 and is now rebranding its online product as theScore Bet.
- Wynn Resorts is expanding into new markets with its Dubai resort, Wynn Al Marjan Island, set to open in early 2027.
Casino stocks are having a moment. Macau is firing on all cylinders again, U.S. online sports betting keeps adding states, and a handful of operators are building in entirely new markets. Whether you are looking for income, growth, or a mix of both, the casino sector in 2026 has something to offer.
Here is a full breakdown of six of the best casino stocks to watch right now.
MGM Resorts International (MGM) is the most diversified name on this list. It owns some of the biggest properties on the Las Vegas Strip — the Bellagio, MGM Grand, Luxor, and New York-New York — plus a 56% stake in two Macau casinos. In 2024, MGM posted record revenue of $17.2 billion, up 7% year over year. Its Macau business surged 28% to $4 billion after COVID restrictions were removed. MGM trades at $34.31 with a market cap of $8.8 billion and a 52-week range of $25.30 to $40.16.
MGM Resorts International, MGM
BetMGM, its online joint venture with Entain, is now EBITDA-profitable and targeting $2.75 billion in revenue in 2025 with EBITDA of $200 million. That makes MGM one of the few casino operators with a credible story in both physical and online gaming.
Las Vegas Sands (LVS) went all-in on Asia when it sold its Las Vegas properties in March 2021 for $6.25 billion. The bet paid off. In 2024, the company posted revenue of $11.3 billion, up 9% from 2023, with operating income of $2.4 billion. It operates five casinos in Macau and the Marina Bay Sands in Singapore. LVS trades at $57.52 with a market cap of $38.6 billion and pays a dividend yield of 1.83%.
In October 2025, Las Vegas Sands shut down its digital gaming arm entirely to focus on Macau and Singapore. That is a clear strategic split from most of its peers.
Wynn Resorts (WYNN) posted revenue of $7.1 billion in 2024, up 9%, and generated $1.1 billion in operating income. It owns the Wynn and Encore in Las Vegas, Encore Boston Harbor, and a 72% stake in Wynn Palace and Wynn Macau. WYNN trades at $114.39, within a 52-week range of $65.25 to $134.72, and pays a dividend yield of 0.87%.
The company is also building Wynn Al Marjan Island near Dubai, a luxury resort set to open in early 2027. That gives Wynn a foothold in a market no other major casino operator currently serves.
Online Betting: The High-Growth, High-Risk Side of the Trade
DraftKings (DKNG) is the only pure-play online gambling stock on this list and the highest-growth name in the group. Revenue rose 30% in 2024 to $4.77 billion. It holds 34% of the U.S. online sports betting market, second only to FanDuel at 44%. Monthly unique payers reached 3.6 million in Q3 2025, though user growth was essentially flat at that point.
The catch is profitability. DraftKings posted an operating loss of $609 million in 2024, though it has been narrowing the gap. The stock trades at $22.59, well off its 52-week high of $51.16, with a market cap of $11.2 billion.
Penn Entertainment (PENN) has had a difficult run. The stock trades at $12.05, near its 52-week low of $11.65, with a market cap of just $1.6 billion. The company owns 44 properties in 20 states, but its online strategy has been a bumpy ride. After rebranding its sportsbook as ESPN Bet in a $2 billion deal with ESPN, Penn announced in November 2025 that it was terminating that partnership early after results failed to meet expectations. It is now pivoting to theScore Bet as its primary online brand.
PENN Entertainment, Inc., PENN
Penn is still operating at a GAAP loss as it waits for its digital investments to pay off.
Physical Casinos Still Carry Weight
Caesars Entertainment (CZR) is the largest casino operator in the U.S. by property count, with 54 locations including eight on the Las Vegas Strip. Revenue dipped slightly in 2024 from $11.4 billion to $11.2 billion, with small declines in its Las Vegas and regional businesses. Its digital segment is profitable and growing, which offers some offset. CZR trades at $18.94 with a market cap of $3.9 billion, near its 52-week low of $17.86.
Caesars Entertainment, Inc., CZR
Caesars has delivered returns of roughly 1,700% since its 2014 IPO, driven largely by Eldorado Resorts’ aggressive acquisition strategy before the two companies merged in 2020.
Among other casino stocks flagged for elevated trading volume by MarketBeat’s screener: Rush Street Interactive (RSI), Red Rock Resorts (RRR), Super Group (SGHC), and Melco Resorts & Entertainment (MLCO) are all worth keeping on the radar.
On February 18, Caesars gained 4.41%, DraftKings rose 3.79%, and Penn added 2.47% in the same session. MGM edged up 0.50%, Las Vegas Sands gained 0.65%, and Wynn added 0.88%.
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