What Were the Best Performing Gambling Stocks of 2024?
Around the world, various longstanding and emerging gambling markets are thriving right now, as this enormously popular industry establishes itself in new parts of the globe. Today’s global iGaming market is a hugely competitive one, with new major players arriving all the time, meaning it can certainly be hard to keep up with the latest trends and discover the most successful stocks. Luckily for you, we’ve put together this quick list of the best performing gambling stocks of 2024!
Caesars Entertainment, Inc.
Often it’s the most iconic names in the industry that hold the best market positions, and that is certainly true of Caesars Entertainment, Inc (NASDAQ:CZR) which performed consistently well in 2024. With its market capitalization sitting at $8.46 billion USD, this leading entertainment company has earned a solid reputation in the US market, and now operates on four continents – an impressive achievement. Caesars currently operates over 50 different properties including many popular gaming establishments in Nevada, Arizona, and beyond, and its acquisition of WynnBet’s Michigan iGaming operations back in June 2024 has helped to further cement its strong position on the online gambling scene. This titan of the gambling industry clearly performed well in 2024, and continued strategic decisions may bring further success into 2025.
Gambling.com Group
Throughout 2024, Gambling.com Group (NASDAQ: GAMB) maintained a high level of performance and sustained itself as a reputable and recognizable name on the online gambling scene. Founded way back in 2006, Gambling.com Group is a long-time contributor to digital marketing for the online gambling industry, and establishing landmark partnerships and acquisitions over the past few years has enabled this stock to perform consistently well. Over the last year, its stock returned 82.87% and outperformed other gambling stocks by 61 percentage points, demonstrating a high level of success for the company. Having recently announced record fourth quarter revenue for 2024 of over $35 million USD, this international portfolio of websites was definitely one of the best performing gambling stocks of the year, and its strong market position could certainly continue well into 2025 and beyond.
Rush Street Interactive
Over the course of the last year, investors witnessed a significant surge in the stock price of Rush Street Interactive (NYSE: RSI), which grew over 200% during 2024 alone. Its price grew from $3.59 on 30 December 2023 to $13.72 by close of trading on the last day of 2024, making it a hugely successful year for the company. This leading iGaming operator has established itself as a highly-regarded name on the online gambling scene, making their gaming sites a great choice for an online casino in Canada as the company has been expanding its presence into new North American markets. This trusted name has enjoyed substantial growth thanks to its varied offering of online gaming sites, including real-money online casinos, both online and brick-and-mortar sports betting services, and a wide selection of social and free-to-play games. The stock currently ranks very highly when compared to its competitors in the iGaming industry, making it standout as a leader in the online gambling sector throughout 2024.
Wynn Resorts Ltd.
In 2024, Wynn Resorts’ stock (NASDAQ: WYNN) surged dramatically after the company’s fourth-quarter earnings significantly exceeded the predictions of major market analysts. Its quarterly revenue of over $1.8 billion USD has meant that Wynn Resorts’ stock is consistently achieving ‘Strong Buy’ ratings at the moment. The success of this stock can be pinned down to its solid performance on the iconic Las Vegas casino scene, as well as the company’s impressive portfolio of luxury hotels and casinos around the rest of the world. Wynn Resorts regularly receives Forbes Travel Guide Five-Star Awards for its luxury vacation destinations which span from America to Macau, and international projects such as the Wynn Al Marjan Island in the UAE (opening in 2027) are expected to boost its performance even further. The company was clearly a major player for brick-and-mortar casino destinations in 2024, and its ongoing expansion into new regions of the world could lead to its stock achieving further growth in the future.
DraftKings Inc.
Last but not least, it’s worth paying attention to the performance of DraftKings Inc. (NASDAQ: DKNG) over the course of the last year. Despite a few setbacks, this major American gambling company saw its stock rally significantly with a 13% increase in revenue by the end of the year. The company generated $4.8 billion USD in revenue last year, which meant that 2024 was its first full year of positive adjusted EBITDA, indicating a positive outlook for DraftKings Inc. in 2025. With a growing number of monthly unique players – around 4.8 million in the fourth quarter – this leading sportsbook provider has demonstrated resilience and an ability to expand into new avenues. As of right now, the company is forecasting 2025 revenue of over $6 billion USD, and investors will be watching closely to see how the stock performs this year.
In conclusion, whilst this is just a selection of some of the best-performing gambling stocks of 2024, it is clear to see that many impressive companies are driving sustained growth in this thriving entertainment scene. A variety of converging factors are contributing to the ongoing success of this enormous industry, with the rise of mobile gaming and increasingly permissive legislation driving an international surge in consumer engagement. Watch this space, as 2025 will surely be another fascinating year for the gambling stock market.