TLDR
- Five casino stocks are drawing investor attention in early 2026 based on trading volume and analyst coverage
- DraftKings analysts see around 30% upside potential linked to its prediction markets launch
- MGM posted record revenue of $17.2 billion in 2024, up 7% year-over-year
- PENN Entertainment ended its ESPN Bet partnership early in November 2025 after poor results
- Las Vegas Sands shut down its digital gaming arm in October 2025 to refocus on Macau and Singapore
Five casino stocks are drawing investor attention heading into 2026, based on trading volume data and recent analyst coverage.
Here is a breakdown of what is happening with each company.
DraftKings went public through a SPAC in 2020 and remains the only pure-play online gambling company among major casino stocks. It holds about 34% of the U.S. online sports betting market, behind FanDuel’s 44%.
Revenue jumped 30% in 2024 to $4.77 billion, but the company is still unprofitable. Its operating loss narrowed to $609 million, and it reached 3.6 million monthly unique payers as of Q3 2025.
Analysts are watching roughly 30% upside potential following DraftKings’ launch of prediction markets. User growth was flat as of the most recent quarter.
MGM owns some of the most well-known resorts on the Las Vegas Strip, including the Bellagio and MGM Grand. It also holds 56% stakes in two Macau casinos.
MGM and BetMGM Performance
MGM posted record revenue of $17.2 billion in 2024, up 7% year-over-year. Macau revenue grew 28% to $4 billion following the removal of COVID restrictions.
MGM Resorts International, MGM
Its online joint venture, BetMGM, is now EBITDA-profitable. It is on track for $2.75 billion in revenue and $200 million in EBITDA in 2025.
PENN operates 44 properties across 20 states. The company acquired Barstool Sports and later rebranded its sportsbook as ESPN Bet in a $2 billion deal.
In November 2025, PENN terminated the ESPN Bet deal early, saying results did not meet expectations. The company is now rebranding its online sports betting under theScore Bet.
Revenue grew slightly in the most recent period, but PENN is still operating at a GAAP loss as digital investments continue.
Caesars became the largest U.S. casino operator after Eldorado Resorts acquired it in 2020. The combined company now runs 54 properties, including eight on the Las Vegas Strip.
Caesars and Las Vegas Sands Recent Numbers
Revenue dipped slightly in 2024, falling from $11.4 billion to $11.2 billion due to minor declines in Las Vegas and regional operations. Its digital business posted growth and delivered solid profits.
Caesars spent $4 billion to acquire British online gaming company William Hill in April 2021.
Las Vegas Sands is focused entirely on Asian markets, operating five casinos in Macau and Marina Bay Sands in Singapore. It sold its Las Vegas properties in March 2021 for $6.25 billion.
In 2024, revenue reached $11.3 billion, up 9% from 2023, with operating income of $2.4 billion.
In October 2025, Las Vegas Sands shut down its digital gaming arm to refocus on its core Macau and Singapore operations.
