With the NFL and college football seasons right around the corner, you can be sure that people that love to gamble on games, and bet on fantasy football and internet gaming, are ready and set to roll. One thing is for sure. The top companies in the legalized betting world are getting ready for a huge season, and smart growth stock investors should grab some of the top stocks now.
While it was carried on across the United States every single day of the year forever, sports betting was only legal in Nevada and Delaware. After years of efforts to change the rulings that kept it illegal, that prohibition came to an end in 2018. That’s when the Supreme Court ruled in the favor of individual states in a case involving the constitutionality defined by a 1992 law, the Professional and Amateur Sports Protection Act, which prohibited states other than Nevada and Delaware from operating sports betting. Currently, 32 states have approved legal sports betting and more will surely follow soon.
We screened our 24/7 Wall St. research database looking for stocks that are rated Buy that could be poised to have a huge fall football season. We found five that top firms across Wall Street are very positive on. It is still important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Shares of this well-known old-school gaming company offer solid upside. Caesars Entertainment Corp. (NASDAQ: CZR) provides casino-entertainment and hospitality services, primarily under the Harrah’s, Caesars, Horseshoe and Eldorado brand names.
Its facilities include gaming offerings, food and beverage outlets, hotel and convention space, and non-gaming entertainment options. Caesars Entertainment is one of the largest gaming companies in the world and currently owns or operates 50 casino properties in 13 states and in four other countries.
Also the largest casino company in the United States, Caesars Entertainment, recently bought a minority stake in fantasy sports platform, SuperDraft. Caesars has the option to increase its stake to 100% over time at predetermined levels. SuperDraft will join the Caesars online brands, which include World Series of Poker, Caesars Online Casino and William Hill, and it will become part of Caesars’ single wallet solution that allows members more options to play games both live and online.
Stifel just boosted its price target on the shares to $130 from $125. The consensus target is just $102.83, and Caesars Entertainment stock closed Thursday’s trading at $82.77 per share.