TLDR
- Five casino stocks — DraftKings, MGM, PENN, Caesars, and Las Vegas Sands — are drawing investor attention in early 2026
- DraftKings analysts see around 30% upside potential following its prediction markets launch
- MGM posted record revenue of $17.2 billion in 2024, up 7% year-over-year
- PENN ended its ESPN Bet partnership in November 2025 after poor results and is rebranding under theScore Bet
- 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.
DraftKings went public through a SPAC in 2020. It is the only pure-play online gambling company among major casino stocks, holding about 34% of the U.S. online sports betting market. FanDuel leads with 44%.
Revenue jumped 30% in 2024 to $4.77 billion, but DraftKings is still unprofitable. Its operating loss narrowed to $609 million. The company 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 Resorts International, MGM
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.
BetMGM and Online Betting Progress
Its online joint venture, BetMGM, is now EBITDA-profitable. BetMGM 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. The company said results did not meet expectations. It 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 runs 54 properties, including eight on the Las Vegas Strip.
Revenue dipped slightly in 2024, falling from $11.4 billion to $11.2 billion due to minor declines in Las Vegas and regional operations.
Las Vegas Sands Pulls Back From Digital
Caesars spent $4 billion to acquire British online gaming company William Hill in April 2021. Its digital business posted growth and delivered solid profits in the most recent period.
Las Vegas Sands is focused entirely on Asian markets. It operates 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, Las Vegas Sands 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.
