DraftKings operates iGaming through its DraftKings brand in five states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand, in three states. Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states.
The company’s daily fantasy sports product is available in six countries with 15 distinct sports categories. In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network, a multiplatform broadcast and content company.
Canaccord Genuity has set its target price at $30. DraftKings stock has a $24.14 consensus target, and Thursday’s closing print was $18.91.
MGM Resorts
This is another old-school gambling play that has jumped into the online and mobile sports gambling arena. MGM Resorts International (NYSE: MGM) owns and operates casino, hotel, and entertainment resorts in the United States and Macau that offer gaming, convention, dining, entertainment, retail and other resort amenities.
The company’s casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations and small meetings.
The Barclays price objective is $59, while the consensus target is $54.48. MGM Resorts International stock ended Thursday’s session trading at $43.33.
Penn Entertainment
This is an analyst favorite for online gaming and gambling. Penn Entertainment Inc. (NASDAQ: PENN) provides integrated entertainment, sports content and casino gaming experiences in North America. It operates online sports betting in various jurisdictions, as well as iCasino under a portfolio of brands, including Hollywood Casino, L’Auberge, Barstool Sportsbook and theScore Bet.
The company’s portfolio also includes MyChoice, a customer loyalty program that offers a set of rewards and experiences for business channels. In addition, it owns various trademarks and service marks, including Ameristar, Argosy, Boomtown, Greektown, Hollywood Casino, Hollywood Gaming, L’Auberge, and M Resort.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
