With economic activity on the rebound, gaming stocks are on a tear…
According to data released by the Congressional Budget Office, the U.S. economy is bouncing back at a record pace thanks to the ongoing vaccine rollout.
By the end of the year, unemployment will decline to 5.3%. Meanwhile, the country’s economy is anticipated to grow by 3.7%.
Helping drive the recovery is the U.S. government’s recent approval for $1.9 trillion in stimulus. And with $3 trillion more potentially on the way, hard-hit industries are expected to receive even greater support to facilitate future growth.
This has put pressure on work-from-home technology stocks in recent weeks, as many experts are now projecting a return to more “normal” daily routines sooner than expected. But while big tech is faltering, stocks tied to an economic reopening are beginning to boom.
We’re seeing this in the airline and the resort industry. Over the past several days, the Transportation Security Administration (TSA) reported over 1.5 million people passed through TSA checkpoints. Bookings are also picking up all across the globe.
And it’s no surprise why…
People have been cooped up for an entire year. This means very few vacations were taken and spending for things beyond “necessities” was put on hold. But with an improving economy and travel picking up, consumers are spending on trips, leisure activities, and even increasing their visits to casinos as a result.
This spending is expected to only surge in the months ahead as more people are vaccinated, go on vacation, and spend on gambling at resorts.
That’s exactly why I’m bringing you the best gaming stock around that will be at the forefront of the resort and casino rebound – both in-person and especially online.
It just got added to the S&P 500 last week. So that means every time someone buys the S&P, they’re also buying a slice of this stock too.
This High-Growth Gaming Stock Should Continue Soaring In 2021
Penn National Gaming (NASDAQ: PENN) is an American casino and racetrack operator based in Pennsylvania.
While PENN initially struggled at the start of the pandemic, it came roaring back and is now one of the best performing stocks over the last year.
[finviz ticker=PENN]CEO Jay Snowden recently told CNBC that the company is beginning to see an uptick in visitors to its casinos now that the pace of vaccinations has begun to accelerate. The CEO also said the company’s March volumes and revenues surged to their highest levels in years.
Snowden said that even though visitor foot traffic was still lower compared to 2019, people are spending more per visit and that visitations were quickly trending closer to pre-pandemic levels.
But these aren’t the only tailwinds for the company…
States across the U.S. are legalizing sports gambling at a rapid pace.
This resulted in a flood of people using online apps from casino operators to bet on their favorite sports teams. In an effort to weather the pandemic, as well as take advantage of this trend, PENN launched its own digital gambling services.
But in January 2020, PENN made a major announcement on this front. The company partnered with Dave Portnoy’s Barstool Sports (buying 36% of the business for $163 million) to tie in the Barstool Sportsbook app into its own services in Pennsylvania and Michigan.
PENN has launched the app in both of these states already, with plans to expand throughout the the entire country.
The next states on the list include Colorado, Illinois, Indiana, New Jersey, Virginia, and West Virginia. And it’s only a matter of time before it’s open in the remaining 42 states…
So, with an expanding digital footprint and growing consumer traffic, the company should continue seeing solid growth throughout 2021 and beyond.
Anything under $100 per share should be seen as a strong buy.
5 Stocks Saving America and Poised to Make Some Investors Rich
A new wave of profit opportunities is emerging on the heels of the COVID-19 pandemic …
Pouring a flood of money into select industries…
And helping to pull our economy back from the brink of disaster.
In fact, during every major crisis of the 21st Century …
Similar opportunities like this one have given prepared investors the opportunity to turn modest initial investments into absolute fortunes.
Like 3,312% on Ansys, Enough to turn $10,000 into more than $341,000.
3,434% on Tyler Technologies…
Turning every $10,000 invested into more than $353,000 today.
And 5,900% on IEH…
Growing every $10,000 stake into an even $600,000.
Now, it’s all happening again:
As the pandemic is destroying the most vulnerable companies…
And giving rise to five new multibillion-dollar industries that are already transforming the economy.
Watch this now to find out which five Saving-America stocks are poised for the biggest growth and the biggest profits…
