The gambling industry is experiencing remarkable growth around the world, and the United States is one of the fastest-growing markets. According to the American Gaming Association, more American adults than ever reported participating in gambling last year. Over 55 percent of American adults participated in gambling, with 28 percent visiting a physical casino and 21 percent placing sports bets.
A key finding of the survey was the increasing acceptance of gambling among the US population. Nine out of ten adults find casino gambling acceptable both for themselves and for others. This promises significant revenue increases for the US economy and casino companies. Revenue from commercial gambling in the US increased by 8.9 percent year-on-year, reaching $17.63 billion in the second quarter of 2024.
The sports betting industry is a major contributor to the overall growth of the gambling industry. The last six years have seen an explosion as gambling has been legalized in most states in the US. Currently, 38 states have legalized gambling, and over $120 billion in bets and $11 billion in revenue are expected to be generated in 2023 alone.
In a recent episode of CNBC Boardroom’s Game Plan Sports Event, executives from FanDuel, Fanatics and Sportradar discussed new taxes and trends in the betting industry. It turns out that betting on individual players and real-time betting during live sporting events is gaining popularity. FanDuel’s CEO has backtracked on his decision to impose a super tax on gambling after his competitors decided not to impose such a tax.
FanDuel’s president emphasized that the NFL season is one of the biggest acquisition periods of the year. FanDuel has partnered with YouTube to launch a “Sunday Ticket” offer where players who bet at least $5 will receive a three-month trial to watch NFL games using the “Sunday Ticket.”
Back to the best Las Vegas stocks: Las Vegas Sands Corp. is an international developer and operator of casino resorts with main locations in Macau and Singapore. Despite the difficulties during the COVID-19 pandemic, the company is showing signs of recovery thanks to the legalization of gambling and sports betting in Asian countries.
Las Vegas Sands’ net revenues and net income increased 8.6 percent and 15 percent year-over-year, respectively. With cash on hand of $4.71 billion and 40 hedge funds bullish on LVS, the company remains an attractive investment opportunity.
Overall, LVS ranks 6th on our list of the best Las Vegas stocks to buy now. However, despite its potential, we can’t help but mention that AI stocks could promise higher returns in a short period of time.
