Best Casino Stocks for 2026 and How to Get Started
TLDR
- Online gambling is expanding across the U.S. as more states legalize it, creating new growth opportunities for casino stocks.
- Macau remains the world’s largest gambling market, with MGM, Las Vegas Sands, and Wynn Resorts all holding operating licenses there.
- DraftKings leads pure-play online betting with 34% U.S. market share, posting 30% revenue growth in 2024 to $4.77 billion.
- MGM hit record full-year revenue of $17.2 billion in 2024, while Las Vegas Sands posted $11.3 billion and Wynn Resorts $7.1 billion.
- Penn Entertainment ended its ESPN Bet partnership early in November 2025 after results fell short of expectations.
The casino sector has changed a lot. It is not just about the Las Vegas Strip anymore. Online sports betting is legal in more U.S. states than ever, Macau is back in full swing, and some operators are planting flags in new markets like Dubai. For investors, that means more ways to play the space.
Here is a look at six of the top casino stocks worth watching in 2026.
MGM Resorts International (MGM) is one of the most diversified names in the group. The company owns some of the most recognizable properties on the Strip — the Bellagio, MGM Grand, Luxor, and New York-New York — along with a 56% stake in two Macau casinos. It posted record revenue of $17.2 billion in 2024, up 7%, and its Macau operations jumped 28% to $4 billion after COVID restrictions were lifted. MGM trades at $34.31 with a market cap of $8.8 billion.
MGM Resorts International, MGM
Its online joint venture BetMGM is now EBITDA-profitable and targeting $2.75 billion in revenue in 2025, making it one of the more well-rounded stories in the sector.
Las Vegas Sands (LVS) is the most Macau-focused name on this list. The company sold its Las Vegas assets in March 2021 for $6.25 billion to go all-in on Asia, with five Macau casinos and the Marina Bay Sands in Singapore. That bet paid off. Revenue grew 9% in 2024 to $11.3 billion, with operating income of $2.4 billion. LVS trades at $57.52 with a market cap of $38.6 billion.
In October 2025, Las Vegas Sands shut down its digital gaming unit to focus entirely on its physical properties. That puts it at odds with most peers, who are moving harder into online.
Wynn Resorts (WYNN) owns the Wynn and Encore in Las Vegas, the Encore Boston Harbor, and a 72% stake in Wynn Palace and Wynn Macau. Revenue rose 9% in 2024 to $7.1 billion, and the company generated $1.1 billion in operating income. WYNN trades at $114.39, within a 52-week range of $65.25 to $134.72.
Wynn is also building Wynn Al Marjan Island near Dubai, set to open in early 2027, expanding its footprint beyond its current markets.
Online Betting: Where the Growth Is
DraftKings (DKNG) is the only pure-play online gambling stock on this list. It controls 34% of the U.S. online sports betting market, behind FanDuel’s 44%. Revenue jumped 30% in 2024 to $4.77 billion. The company still runs at a loss — operating loss was $609 million in 2024 — but it has been narrowing the gap. Monthly unique payers hit 3.6 million in Q3 2025, though user growth was flat. DKNG trades at $22.59, well off its 52-week high of $51.16.
Penn Entertainment (PENN) owns 44 properties across 20 states and has been trying to build a serious online presence for years. After acquiring Barstool Sports and rebranding to ESPN Bet, the company announced in November 2025 that it was ending that ESPN partnership early after results missed expectations. It is now rebranding its online product as theScore Bet. PENN trades at $12.05, near its 52-week low of $11.65.
PENN Entertainment, Inc., PENN
Caesars Entertainment (CZR) is the largest U.S. casino operator by property count, with 54 locations including eight on the Las Vegas Strip. Revenue slipped slightly in 2024 from $11.4 billion to $11.2 billion, with modest declines in Las Vegas and regional business. Its digital segment, however, is profitable and growing. CZR trades at $18.94 with a market cap of $3.9 billion.
Caesars Entertainment, Inc., CZR
What to Look for in Casino Stocks
Not all casino stocks are built the same. The key things to consider are growth strategy — whether that is online, Macau, new builds, or regional expansion — profitability, dividend yield, and balance sheet strength. The sector is cyclical, so financial resilience matters.
Most traditional operators are profitable on a GAAP basis. Online-focused names like DraftKings and Penn are still in investment mode, spending heavily to acquire users before turning the corner on profits.
On February 18, Caesars gained 4.41%, DraftKings rose 3.79%, and Penn added 2.47% in the same session.
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