As is the case with most industries in the world, the gambling industry took a severe blow to its finances. The consequences brought on by COVID-19 resulted in millions of dollars in lost revenue, and many gambling establishments are yet to recover.
However, while the gambling industry suffered, the iGaming sector thrived. With the lockdowns and travel restrictions in place, many players have turned to online gambling. In fact, based on the latest iGaming industry statistics, the global online gambling market is expected to reach roughly USD 122 billion by 2025.
In other words, the iGaming industry is continuously growing, which means that the time to invest is now.
If you have thought about investing in the iGaming industry but are not sure where to begin, we have prepared a brief guide to show you some of the fastest growing and best value casino stocks on the market.
Playtech PLC (PTEC)
Playtech is one of the largest suppliers of online casino games in the world. The company creates everything from bingo, slots, and poker to live dealer games. In addition, Playtech offers a variety of services, such as online casino hosting services, network management, and even customer support for online casinos.
The company has numerous subsidiaries, such as Quickspin, Eyecon, Finalto Group Limited, FTX Games, and many others. Based on the latest data, the company has a market cap of GBP 2.039 billion. In the past six months, the company stock went from GBP 661.00 on August 23, 2021, to GBP 730.50 on January 20, 2022.
Even though it experienced a small dip the following day, the company stock has been on a slow rise ever since.
According to the latest recommendations trends, Playtech has a recommendation rating of 2.1, and the analysts are advising to buy the Playtech stock.
Evolution AB (publ) (EVO.ST)
Evolution Gaming is the best supplier of live casino games in the gambling industry. The company operates primarily in Europe and the US. However, Evolution Gaming has studios across the globe, out of which it streams casino game tables to online casinos’ clientele.
The company was founded in 2006 and is currently headquartered in Stockholm, Sweden. At the time of writing, it has a market cap of 217.598 billion SEK. Evolution’s subsidiaries include Big Time Gaming Pty Ltd and NetEnt, which is one of the largest video slot providers in the world.
Currently, the company’s stock is valued at 1,073.80 SEK. After reaching its peak on April 1, 2021 (SEK 1,672), the company stock value started to decline. Even though it rose back to SEK 1,286.60 by December 1, 2021, the company’s stock slowly declined once more. Despite that, the stock market analysts give Evolution the same recommendation rating as for Playtech and are advising to buy.
International Game Technology PLC (IGT)
International Game Technology has been in the gambling industry for more than three decades. The company was founded in 1990 and was formerly known as GTECH S.p.A. and Lottomatica S.p.A.
The company specializes in gaming and global lottery. IGT provides lottery transaction processing systems for online use, produces lottery tickets, provides cabinets and games for the gaming market, and much more.
At the time of writing, the company has a market cap of USD 6.012 billion and a stock value of USD 29.30. Even though it had some ups and downs in terms of value, the company’s stock has been on a steady increase ever since March 1, 2020, when it was valued at USD 5.95. As is the case with both Evolution and Playtech, the analysts give IGN a recommendation rating of 2.1 and advise to buy.
The Bottom Line
The iGaming industry is continuously expanding, and the lucrative market presents an excellent opportunity for investment. While we mentioned only a few potential candidates, there are dozens of other iGaming companies you could invest in.
An important thing to remember is that investing is risky. Even though stock market experts are advising a buy, no one can be certain what the future holds, and you may end up losing money. Ultimately, the decision is all yours, so make sure to use your best wits about investing.
