If you have stocks in casinos, you should be smiling right now as they are up again this year. One of the main things the casinos have been trying to gain a good foothold in this year is stopping people attempting to hack and game the gaming houses.
This is forcing the profits even higher.
If you haven’t dabbled in this stock, well read on and see for yourself if you fancy your chances gambling on casino stocks.
Although you often hear the phrase, “The house always wins” in the gambling world, buying casino stocks can bring you big long-term profits. Just as you would with any investments, it is wise to heavily research the subject and choose wisely.
Although these stocks possess a degree of predictability, the net income growth rates are anything but – they depend wholly on the economy.
Overseas gaming has recently seen loads of Wall Street attention, especially in Macau. Located just off the coast of China is a region of China that allows gambling. Due to this, Macau experienced real success and have seen a big 12% to 15% annual growth over the last two years – this even out does the U.S. market.
When deciding upon stocks you have to consider gaming revenue is unpredictable, especially when the economy is expanding. Though this may be the case, it will eventually grow as well.
Over in the U.S. shares of casino companies are also on the rise after big news of a jump in Nevada gambling revenue and the possibility of legalized online gambling in New Jersey.
Nevada’s gambling regulators said casinos in their state took in over 10% more in gambling revenues during December than they did in the same month in 2012. According to the Nevada Gambling Control Board, casinos took $943M during the month, with $39 in state taxes.
Leading Caesars Entertainment Corp., who operates the Nevada and New Jersey casinos, showed some of the sector's largest gains, from $3.30, or 33% to a whopping $13.37. Shares have climbed 60% in the past two days.
Other companies such as MGM Resorts International climbed $0.61 (4.7%) to $13.55, and Las Vegas Sands Corp. climbed $0.87 (1.6%) to $54.42. Elsewhere in the sector, Boyd Gaming Corp added $0.66 (9.3%) to $7.76 and Penn National Gaming Inc. jumped up from $0.23 to $52.39.
So for those willing to roll the dice and take a chunk, choosing how and what to invest in from companies that produce to online properties such as the very well-known Riverbell (riverbelle online casino) to larger MGM International Casinos mainly comes down to which of the potential avenues of growth seems like the best bet.
Filed Under: MISCELLANEOUS
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