Latest news with #ChadBeynon
Business Insider
03-05-2025
- Business
- Business Insider
Macquarie Sticks to Its Hold Rating for Hilton Worldwide Holdings (HLT)
In a report released yesterday, Chad Beynon from Macquarie maintained a Hold rating on Hilton Worldwide Holdings (HLT – Research Report), with a price target of $240.00. The company's shares closed yesterday at $240.90. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Beynon covers the Consumer Cyclical sector, focusing on stocks such as Light & Wonder, Hilton Worldwide Holdings, and Churchill Downs. According to TipRanks, Beynon has an average return of 4.2% and a 44.17% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hilton Worldwide Holdings with a $247.25 average price target, implying a 2.64% upside from current levels. In a report released on April 30, Evercore ISI also maintained a Hold rating on the stock with a $245.00 price target.
Yahoo
23-03-2025
- Business
- Yahoo
Is Rush Street Interactive (RSI) Among the Best Casino Stocks to Buy According to Billionaires?
We recently compiled a list of the 10 Best Casino Stocks to Buy According to Billionaires. In this article, we are going to take a look at where Rush Street Interactive, Inc. (NYSE:RSI) stands against the other best casino stocks. The casino industry has rebounded strongly from the COVID-19 pandemic, due to pent-up demand from gamblers and visitors returning to popular places such as Las Vegas. Brick-and-mortar casinos make a substantial profit from hotel operations, conventions, and other events in addition to the revenues that they make from slot machines and table games. Casino stocks are categorized as consumer discretionary since tourism and gambling spending are strongly correlated with the overall economic condition. According to Market Research Future, the global casino market is projected to grow from $309.54 billion in 2024 to $511.6 billion by 2032, with a compound annual growth rate (CAGR) of 6.48% over the forecast period (2024-2032). Furthermore, in 2023, the casino market was estimated to be worth $290.7 billion. Regionally, the Asia Pacific Casino market dominates the industry due to the growing availability of online casinos and the average individual's income. The North American casino market has the second-largest market share due to the legalization of sports betting and the approval of online gambling in the region. Furthermore, the UK casino market grew at the quickest rate in the European region, while the German casino industry held the largest market share. Macquarie analyst Chad Beynon recently highlighted the significant market reaction to casino industry earnings even though the results were essentially in line with forecasts. After five years of underperformance, the industry saw double-digit stock increases due to improving sentiment, potential interest rate drops, and solid early-year trends. Although Macau's recovery is still below pre-pandemic levels, gaming revenue is projected to rise by 8% in 2025, outperforming the U.S. market's flat-to-2% growth. Chinese New Year activity was consistent rather than volatile, showing a healthy demand trend. By bypassing the costs of licensing and regulations, new event-based contracts may pose a threat to established operators. However, Beynon believes that licensed operators will fight back, as they did against sweepstakes and illegal betting. Investor confidence was strengthened by generally favorable remarks regarding recent trends, even if some companies decided not to provide updates during the quarter. The industry is now seen more favorably by analysts after years of weak performance. Apart from analysts, there are also billionaire investors who remain bullish on the casino stocks. Ken Fisher's , with a portfolio worth more than $252 billion, has invested in two renowned casino stocks. In Q4 of 2024, Fisher invested more than $201 million and owned more than 2.3 million shares in a high-end casino and hotel operator in the United States. Fisher's confidence in the market's long-term potential is proven by the fact that the stock makes up 0.07% of his portfolio. In the same quarter, Fisher also made an investment of more than $153 million in an American multinational hospitality, sports, and entertainment company. Meanwhile, in Q4 of 2024, Billionaire Carl Icahn's , which has a $7.4 billion portfolio, showed its trust in the industry by investing over $82 million in the largest casino-entertainment firm in the United States. A closeup shot of slot machines and a player nervously waiting for the spin to stop. For this article, we scanned Insider Monkey's Q4 2024 proprietary database of billionaires' stock holdings and identified casino stocks from the list. These companies are involved in operating casinos, online gaming platforms, sports betting, and resort entertainment. From there, we picked the top 10 stocks with the highest number of billionaires having a stake in them. Where two or more stocks were tied on billionaire sentiment, we used the dollar value of billionaire holdings as a tiebreaker between them. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Billionaires: 12 Billionaire Holdings: 86,592,100 Rush Street Interactive, Inc. (NYSE:RSI) operates sportsbooks and online casinos in the United States, Canada, Mexico, and South America. Along with its social gaming offerings, its real-money online casinos are particularly well-liked by customers. The stock was up by nearly 70% in the past year, making it among the Best Casino Stocks. Companies like Rush Street Interactive, Inc. (NYSE:RSI) can expand and contend with the industry titans as more and more states ease their betting laws. The business has maintained its market share despite competition from larger rivals like DraftKings and Flutter Entertainment. The business ended 2024 with an outstanding quarter, surpassing forecasts for both sales and adjusted EBITDA. Full-year revenue jumped 34% over the previous year. Adjusted EBITDA rose by over 11 times to $92.5 million, showing impressive growth. Online revenue increased by 29% YoY and 54% YoY in North America and Latin America, respectively, displaying exceptionally strong performance. MAUs in Latin America grew 71% to 348,000, while those in North America reached 205,000 (up 28%). Profitability also climbed, with the gross profit margin climbing to 36.5% in Q4, representing a full-year growth of more than 200 basis points. Looking ahead, Rush Street Interactive, Inc. (NYSE:RSI) has set an optimistic sales target of $1.01 billion to $1.08 billion (a 13% year-over-year growth at the midpoint) and a 35% increase in adjusted EBITDA. Financial stability was further reinforced when it improved its cash position to $229 million with no debt, a $61 million rise for the year. Overall, RSI ranks 4th on our list of the Best Casino Stocks to Buy According to Billionaires. While we acknowledge the potential for RSI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RSI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at .
Yahoo
23-03-2025
- Business
- Yahoo
Is PENN Entertainment (PENN) Among the Best Casino Stocks to Buy According to Billionaires?
We recently compiled a list of the 10 Best Casino Stocks to Buy According to Billionaires. In this article, we are going to take a look at where PENN Entertainment, Inc. (NASDAQ:PENN) stands against the other best casino stocks. The casino industry has rebounded strongly from the COVID-19 pandemic, due to pent-up demand from gamblers and visitors returning to popular places such as Las Vegas. Brick-and-mortar casinos make a substantial profit from hotel operations, conventions, and other events in addition to the revenues that they make from slot machines and table games. Casino stocks are categorized as consumer discretionary since tourism and gambling spending are strongly correlated with the overall economic condition. According to Market Research Future, the global casino market is projected to grow from $309.54 billion in 2024 to $511.6 billion by 2032, with a compound annual growth rate (CAGR) of 6.48% over the forecast period (2024-2032). Furthermore, in 2023, the casino market was estimated to be worth $290.7 billion. Regionally, the Asia Pacific Casino market dominates the industry due to the growing availability of online casinos and the average individual's income. The North American casino market has the second-largest market share due to the legalization of sports betting and the approval of online gambling in the region. Furthermore, the UK casino market grew at the quickest rate in the European region, while the German casino industry held the largest market share. Macquarie analyst Chad Beynon recently highlighted the significant market reaction to casino industry earnings even though the results were essentially in line with forecasts. After five years of underperformance, the industry saw double-digit stock increases due to improving sentiment, potential interest rate drops, and solid early-year trends. Although Macau's recovery is still below pre-pandemic levels, gaming revenue is projected to rise by 8% in 2025, outperforming the U.S. market's flat-to-2% growth. Chinese New Year activity was consistent rather than volatile, showing a healthy demand trend. By bypassing the costs of licensing and regulations, new event-based contracts may pose a threat to established operators. However, Beynon believes that licensed operators will fight back, as they did against sweepstakes and illegal betting. Investor confidence was strengthened by generally favorable remarks regarding recent trends, even if some companies decided not to provide updates during the quarter. The industry is now seen more favorably by analysts after years of weak performance. Apart from analysts, there are also billionaire investors who remain bullish on the casino stocks. Ken Fisher's , with a portfolio worth more than $252 billion, has invested in two renowned casino stocks. In Q4 of 2024, Fisher invested more than $201 million and owned more than 2.3 million shares in a high-end casino and hotel operator in the United States. Fisher's confidence in the market's long-term potential is proven by the fact that the stock makes up 0.07% of his portfolio. In the same quarter, Fisher also made an investment of more than $153 million in an American multinational hospitality, sports, and entertainment company. Meanwhile, in Q4 of 2024, Billionaire Carl Icahn's , which has a $7.4 billion portfolio, showed its trust in the industry by investing over $82 million in the largest casino-entertainment firm in the United States. The bright and neon lights of a glitzy casino, revealing the company's iCasino and gaming properties. For this article, we scanned Insider Monkey's Q4 2024 proprietary database of billionaires' stock holdings and identified casino stocks from the list. These companies are involved in operating casinos, online gaming platforms, sports betting, and resort entertainment. From there, we picked the top 10 stocks with the highest number of billionaires having a stake in them. Where two or more stocks were tied on billionaire sentiment, we used the dollar value of billionaire holdings as a tiebreaker between them. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Billionaires: 10 Billionaire Holdings: 238,479,703 PENN Entertainment, Inc. (NASDAQ:PENN) is the owner of racetracks, online casinos, and regional casinos. It has a strong omnichannel presence, with 43 physical casino and racing properties, a digital portfolio that includes media, iGaming, a loyalty membership base of over 30 million, and a fresh sports betting deal with ESPN that began in November 2023. Analysts estimate the firm held around a high-single-digit percentage revenue share of the $72 billion domestic commercial casino gaming market in 2024. Early in the pandemic, its stock soared as investors were captivated by its moves into online gambling. PENN Entertainment, Inc. (NASDAQ:PENN)'s revenue growth in 2024 was led by strong property-level performance, with locations that were untouched by new competition growing by roughly 3% YoY. Significant improvements were also made by the company in its Interactive area, where strict advertising tactics and strong online casino operations resulted in higher revenue and Adjusted EBITDA. Digital market share was boosted by the Hollywood iCasino app's successful launch in Pennsylvania and Michigan, and engagement continued to rise with the growth of the digital membership base to over four million individuals. The Score and Score BET also kept up their strong performance in Canada, especially in Ontario, and they have ambitions to enter Alberta, which will support their growth. Despite difficulties in the sports betting market, these factors, along with smart operational efficiencies, let PENN Entertainment, Inc. (NASDAQ:PENN) maintain a high performance. Four retail expansion projects are being built with the goal of producing high returns, and they are anticipated to open between late 2024 and mid-2026. Overall, PENN ranks 8th on our list of the Best Casino Stocks to Buy According to Billionaires. While we acknowledge the potential for PENN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PENN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
23-03-2025
- Business
- Yahoo
Is DraftKings (DKNG) Among the Best Casino Stocks to Buy According to Billionaires?
We recently compiled a list of the 10 Best Casino Stocks to Buy According to Billionaires. In this article, we are going to take a look at where DraftKings Inc. (NASDAQ:DKNG) stands against the other casino stocks. The casino industry has rebounded strongly from the COVID-19 pandemic, due to pent-up demand from gamblers and visitors returning to popular places such as Las Vegas. Brick-and-mortar casinos make a substantial profit from hotel operations, conventions, and other events in addition to the revenues that they make from slot machines and table games. Casino stocks are categorized as consumer discretionary since tourism and gambling spending are strongly correlated with the overall economic condition. According to Market Research Future, the global casino market is projected to grow from $309.54 billion in 2024 to $511.6 billion by 2032, with a compound annual growth rate (CAGR) of 6.48% over the forecast period (2024-2032). Furthermore, in 2023, the casino market was estimated to be worth $290.7 billion. Regionally, the Asia Pacific Casino market dominates the industry due to the growing availability of online casinos and the average individual's income. The North American casino market has the second-largest market share due to the legalization of sports betting and the approval of online gambling in the region. Furthermore, the UK casino market grew at the quickest rate in the European region, while the German casino industry held the largest market share. Macquarie analyst Chad Beynon recently highlighted the significant market reaction to casino industry earnings even though the results were essentially in line with forecasts. After five years of underperformance, the industry saw double-digit stock increases due to improving sentiment, potential interest rate drops, and solid early-year trends. Although Macau's recovery is still below pre-pandemic levels, gaming revenue is projected to rise by 8% in 2025, outperforming the U.S. market's flat-to-2% growth. Chinese New Year activity was consistent rather than volatile, showing a healthy demand trend. By bypassing the costs of licensing and regulations, new event-based contracts may pose a threat to established operators. However, Beynon believes that licensed operators will fight back, as they did against sweepstakes and illegal betting. Investor confidence was strengthened by generally favorable remarks regarding recent trends, even if some companies decided not to provide updates during the quarter. The industry is now seen more favorably by analysts after years of weak performance. Apart from analysts, there are also billionaire investors who remain bullish on the casino stocks. Ken Fisher's , with a portfolio worth more than $252 billion, has invested in two renowned casino stocks. In Q4 of 2024, Fisher invested more than $201 million and owned more than 2.3 million shares in a high-end casino and hotel operator in the United States. Fisher's confidence in the market's long-term potential is proven by the fact that the stock makes up 0.07% of his portfolio. In the same quarter, Fisher also made an investment of more than $153 million in an American multinational hospitality, sports, and entertainment company. Meanwhile, in Q4 of 2024, Billionaire Carl Icahn's , which has a $7.4 billion portfolio, showed its trust in the industry by investing over $82 million in the largest casino-entertainment firm in the United States. A woman at a betting table paying out customers who won their sports bets. For this article, we scanned Insider Monkey's Q4 2024 proprietary database of billionaires' stock holdings and identified casino stocks from the list. These companies are involved in operating casinos, online gaming platforms, sports betting, and resort entertainment. From there, we picked the top 10 stocks with the highest number of billionaires having a stake in them. Where two or more stocks were tied on billionaire sentiment, we used the dollar value of billionaire holdings as a tiebreaker between them. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Billionaires: 9 Billionaire Holdings: 692,610,874 DraftKings Inc. (NASDAQ:DKNG) is a pure-play online gambling startup and one of the Best Casino Stocks that went public through a SPAC in 2020. It claims 34% of the market, behind FanDuel's 37%, giving it a form of duopoly in online sports betting. Like many of its competitors, the company has expanded through acquisitions. It strengthened its position in online casino games by spending $1.5 billion to acquire Golden Nugget Online Gaming in August 2021, extending its reach beyond daily fantasy sports and sports betting. The company has remained founder-led, with CEO Jason Robins leading its evolution since 2012. DraftKings Inc. (NASDAQ:DKNG) growth has been fueled by his leadership, especially in the online casino category, which improves revenue diversification. During the COVID-19 pandemic, social distancing and orders to stay at home caused a surge in online sports betting and gambling. Its revenue continues to grow even after the COVID-19 pandemic ended. The company's business is displaying significant operating leverage. Its fiscal Q4 2024 earnings showed a 30% growth in revenue to $4.8 billion over the previous year. For the first time ever, free cash flow was positive and adjusted EBITDA increased $332 million year over year to $181 million. DraftKings Inc. (NASDAQ:DKNG) also added 3.5 million new consumers at record low acquisition costs, boosting its overall client base to $10.1 million, or a 42% year-over-year surge. The DraftKings Sportsbook app peaked at number one in the sports category and third overall in the App Store on Super Bowl Sunday. The firm achieved the largest gross gaming revenue day in its history, setting a record for sportsbook handle at $436 million. The online gambling firm raised its fiscal year 2025 revenue projection to $6.3 billion to $6.6 billion, reflecting a 32% to 38% jump over the previous year, because of anticipated investments in live betting. Overall, DKNG ranks 9th on our list of the Best Casino Stocks to Buy According to Billionaires. While we acknowledge the potential for DKNG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DKNG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at . Sign in to access your portfolio
Yahoo
23-03-2025
- Business
- Yahoo
Is Wynn Resorts, Limited (WYNN) Among the Best Casino Stocks to Buy According to Billionaires?
We recently compiled a list of the 10 Best Casino Stocks to Buy According to Billionaires. In this article, we are going to take a look at where Wynn Resorts, Limited (NASDAQ:WYNN) stands against the other casino stocks. The casino industry has rebounded strongly from the COVID-19 pandemic, due to pent-up demand from gamblers and visitors returning to popular places such as Las Vegas. Brick-and-mortar casinos make a substantial profit from hotel operations, conventions, and other events in addition to the revenues that they make from slot machines and table games. Casino stocks are categorized as consumer discretionary since tourism and gambling spending are strongly correlated with the overall economic condition. According to Market Research Future, the global casino market is projected to grow from $309.54 billion in 2024 to $511.6 billion by 2032, with a compound annual growth rate (CAGR) of 6.48% over the forecast period (2024-2032). Furthermore, in 2023, the casino market was estimated to be worth $290.7 billion. Regionally, the Asia Pacific Casino market dominates the industry due to the growing availability of online casinos and the average individual's income. The North American casino market has the second-largest market share due to the legalization of sports betting and the approval of online gambling in the region. Furthermore, the UK casino market grew at the quickest rate in the European region, while the German casino industry held the largest market share. Macquarie analyst Chad Beynon recently highlighted the significant market reaction to casino industry earnings even though the results were essentially in line with forecasts. After five years of underperformance, the industry saw double-digit stock increases due to improving sentiment, potential interest rate drops, and solid early-year trends. Although Macau's recovery is still below pre-pandemic levels, gaming revenue is projected to rise by 8% in 2025, outperforming the U.S. market's flat-to-2% growth. Chinese New Year activity was consistent rather than volatile, showing a healthy demand trend. By bypassing the costs of licensing and regulations, new event-based contracts may pose a threat to established operators. However, Beynon believes that licensed operators will fight back, as they did against sweepstakes and illegal betting. Investor confidence was strengthened by generally favorable remarks regarding recent trends, even if some companies decided not to provide updates during the quarter. The industry is now seen more favorably by analysts after years of weak performance. Apart from analysts, there are also billionaire investors who remain bullish on the casino stocks. Ken Fisher's , with a portfolio worth more than $252 billion, has invested in two renowned casino stocks. In Q4 of 2024, Fisher invested more than $201 million and owned more than 2.3 million shares in a high-end casino and hotel operator in the United States. Fisher's confidence in the market's long-term potential is proven by the fact that the stock makes up 0.07% of his portfolio. In the same quarter, Fisher also made an investment of more than $153 million in an American multinational hospitality, sports, and entertainment company. Meanwhile, in Q4 of 2024, Billionaire Carl Icahn's , which has a $7.4 billion portfolio, showed its trust in the industry by investing over $82 million in the largest casino-entertainment firm in the United States. Aerial view of a luxury hotel tower surrounded by lush green landscaping. For this article, we scanned Insider Monkey's Q4 2024 proprietary database of billionaires' stock holdings and identified casino stocks from the list. These companies are involved in operating casinos, online gaming platforms, sports betting, and resort entertainment. From there, we picked the top 10 stocks with the highest number of billionaires having a stake in them. Where two or more stocks were tied on billionaire sentiment, we used the dollar value of billionaire holdings as a tiebreaker between them. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Billionaires: 11 Billionaire Holdings: 562,443,265 One of the Best Casino Stocks, Wynn Resorts, Limited (NASDAQ:WYNN) is another diverse casino operator, owning 72% of the Wynn Palace and Wynn Macau in Macau. The Encore Boston Harbor, which debuted in 2019, and the Wynn and Encore in Las Vegas are also fully owned by it. WynnBET stopped business in various states in 2024, as it had done in 2023. Revenue soared to $6.5 billion in 2023, and operating income came to $840 million. In 2024, Wynn Resorts Limited (NASDAQ:WYNN) set yet another record for adjusted property EBITDAR, which included a record for Las Vegas annually. The company achieved excellent operational performance in Las Vegas, with table games dropping flat against tough competitors and slot handles increasing by 13%, while gaming market share grew significantly in Q4. The firm in Macau produced $293 million in EBITDA in the fourth quarter, which was up 11% sequentially but down roughly 1% year over year. Despite the competitive market, it maintained a particular focus on maximizing EBITDA and a high margin profile. Wynn Resorts, Limited (NASDAQ:WYNN) recently revealed intentions to build a resort near Dubai in 2026 as part of its ongoing development of large premium resorts. Investors may benefit in the long run from the company's concentration on underdeveloped markets, such as Boston and Dubai. Stifel maintained a Buy rating on Wynn Resorts, Limited (NASDAQ:WYNN) shares and increased the price objective from $123 to $128. Although Wynn's Q4 report and projection 'probably aren't as strong' as MGM, the company tells investors that 'it's pretty darn close and more importantly should allow WYNN shares to move higher.' Overall, WYNN ranks 5th on our list of the Best Casino Stocks to Buy According to Billionaires. While we acknowledge the potential for WYNN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WYNN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stock To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at .
