What casino stocks pay dividends?

Most mature casino operators pay dividends. Among the industry's dividend-paying stocks are Las Vegas Sands and Wynn.

Is investing in casinos a good idea?

Some casino stocks have been big winners, and they tend to outperform in bull markets. However, investors should be aware of the disruption from online gambling.

What are the most undervalued casino stocks?

One of the most undervalued casino stocks is Boyd Gaming, a regional casino operator that has outperformed the industry in some years. MGM Resorts also appears to be undervalued, according to some metrics.

What is the average P/E ratio of the VanEck Gaming ETF?

The price-to-earnings (P/E) ratio of the VanEck Gaming ETF was 19.8 as of November 2025, indicating the industry traded at a discount to the S&P 500.

Do casino stocks do well in a recession?

Casino stocks don't typically do well in a recession. They are sensitive to consumer spending on travel and gaming, as well as business spending on conventions, which tend to fall in a recession.

How can I research casino stocks before investing?

The best way to research stocks is by looking at quarterly earnings reports and other material directly sourced from the company. You'll want to compare companies in metrics like revenue growth, profitability, and dividends, and examine their business models.

Are there ETFs that focus on casino stocks?

Yes, there are a number of ETFs that focus on casino stocks. Those include the VanEck Gaming ETF, the Roundhill Sports Betting & iGaming ETF, and Invesco Next Gen Media and Gaming ETF.

Best Casino Stocks for 2026 and How to Invest in Them

Learn what's happening with the major players in the casino industry.

By Jeremy Bowman – Updated Mar 13, 2026 at 12:17 AM EST | Fact-checked by Frank Bass

Key Points

Online gambling is growing in the U.S. as more states legalize it, offering investment potential.
Macau remains the top global gambling market, presenting opportunities in licensed casino operations.
Post-COVID recovery has seen increased activity in physical casinos, boosting investments.

A night at the casino might seem like an experience frozen in time -- imagine visions of James Bond or pressing your luck at the craps table -- but the casino industry is changing rapidly, and new developments present a unique opportunity for investors.

Online gaming is becoming legal in many U.S. states, and both old-school casino chains and upstart online gambling stocks are jumping on the trend. Meanwhile, the Asian market, centered on the Chinese territory of Macau, has asserted itself as the largest gambling market in the world, with big winnings for operators who own one of the handful of licenses to operate on the island. Casino stocks are companies that are involved in the gaming industry, whether that means casino operators or online gambling sites like sports betting apps.

If you're looking for some of the best casino stocks out there, keep reading to see six of the most attractive gambling stocks you can buy today.

Top casino stocks to consider

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Ticker Information Table
Name and ticker	Current price	Market cap	Dividend yield
MGM Resorts International (NYSE:MGM)	$36.51	$9.3 billion	0.00%
Las Vegas Sands (NYSE:LVS)	$49.62	$32.9 billion	2.22%
Wynn Resorts (NASDAQ:WYNN)	$98.06	$10.2 billion	1.02%
Penn Entertainment (NASDAQ:PENN)	$16.17	$2.2 billion	0.00%
DraftKings (NASDAQ:DKNG)	$25.01	$12.4 billion	0.00%
Caesars Entertainment (NASDAQ:CZR)	$27.55	$5.6 billion	0.00%

Data as of May 21, 2026. Showing 6 of 6 tickers.

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1. MGM Resorts

NYSE: MGM

MGM Resorts International

Today's Change

(1.36%) $0.49

Current Price

$36.51

Key Data Points

Market Cap

$9.3B

Day's Range

$35.32 - $36.85

52wk Range

$29.18 - $40.94

Volume

4.3M

Avg Vol

4.7M

Gross Margin

38.26%

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MGM (MGM +1.36%) has one of the most impressive collections of properties in the casino industry. It owns many of the most familiar casino resorts on the Las Vegas Strip, including the Bellagio, MGM Grand, Luxor, and New York-New York, as well as locations in Atlantic City, Detroit, and Mississippi, among others. It also has 56% stakes in two Macau casinos: MGM Macau and MGM Cotai.

About two-thirds of its 45,000 guest rooms are on the Strip, making it more exposed to Las Vegas tourism than many of its peers.

MGM's stock plunged when the pandemic first struck in March 2020, but has since rallied to post-financial-crisis highs thanks to an investment from IAC/Interactive (IAC +1.61%) and a pivot to online gaming with BetMGM. IAC owns approximately 23% of MGM.

In 2025, it achieved record full-year revenue and adjusted property earnings before interest, taxes, depreciation, and amortization (EBITDA) across the business, with revenue up 2% to $17.2 billion, and adjusted EBITDA was up 1% to $2.4 billion.

MGM was one of several casino operators awarded a new 10-year gaming license in Macau at the end of 2022, ensuring its future in the gaming territory, and Macau revenue grew 11% to $4.5 billion.

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2. Las Vegas Sands

NYSE: LVS

Las Vegas Sands

Today's Change

(-0.60%) $-0.30

Current Price

$49.62

Key Data Points

Market Cap

$33B

Day's Range

$48.77 - $50.22

52wk Range

$39.29 - $70.45

Volume

5.3M

Avg Vol

4.3M

Gross Margin

38.37%

Dividend Yield

2.22%

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If you're looking to make a bet on Macau, Las Vegas Sands (LVS -0.60%) is the way to go. The company is focused entirely on the Asian market, with five casinos in Macau and the Marina Bay Sands in Singapore. In March 2021, it sold its Las Vegas business, including the Venetian, to a private equity firm for $6.25 billion.

Unfortunately, the strategy of focusing on Asia backfired during the COVID-19 pandemic as traffic to Macau plunged due to strict lockdowns in China and other Asian regions. But the business has recovered since then and in 2025, revenue rose 15% to $13 billion, and operating income of $2.8 billion, up 17%, showing it's back on solid footing and delivering strong operating margins.

The company is also experiencing a better-than-expected recovery at its Marina Bay Sands resort in Singapore.

With its focus on the international market, Las Vegas Sands has been slower to move into online gaming, and it abandoned its online ambitions in October 2025 when it said it would shutter its digital gaming arm to focus on its business in Macau and Singapore.

3. Wynn Resorts

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NASDAQ: WYNN

Wynn Resorts

Today's Change

(3.46%) $3.28

Current Price

$98.06

Key Data Points

Market Cap

$10B

Day's Range

$93.44 - $99.63

52wk Range

$82.63 - $134.72

Volume

1.6M

Avg Vol

1.7M

Gross Margin

32.33%

Dividend Yield

1.02%

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Wynn Resorts (WYNN +3.46%) is another diversified casino operator, with 72% ownership of the Wynn Palace and Wynn Macau in Macau. Additionally, it wholly owns the Wynn and Encore in Las Vegas and the Encore Boston Harbor, which opened in 2019.

In October 2020, the company also launched Wynn Interactive, in which it owns a 97% stake. It partnered with and later acquired BetBull to create an online sportsbook and online casino, but closed BetBull in 2022.

Wynn almost sold Wynn Interactive to a special purpose acquisition company (SPAC) in 2021, but backed away from the deal in November 2021. Media reports in January 2022 indicated the company was again seeking a buyer. Former CEO Matt Maddox had said that the economics for online sports betting aren't favorable because competitors are spending too much on customer acquisition costs.

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SPAC

A SPAC, or special purpose acquisition company, is an entity with no commercial operations that completes an initial public offering (IPO).

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In 2023 and 2024, WynnBET ceased operations in several states. Still, its core casino business remains solid. In 2025, revenue was flat at $7.1 billion, and the company generated $1.1 billion in operating income.

Wynn aims to continue developing big luxury properties and recently announced plans for Wynn Al Marjan Island, a resort near Dubai set to open in early 2027. The company's focus on new markets, such as Dubai and the Boston area, could pay off for investors down the road.

4. Penn Entertainment

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NASDAQ: PENN

Penn Entertainment

Today's Change

(0.31%) $0.05

Current Price

$16.17

Key Data Points

Market Cap

$2.2B

Day's Range

$15.89 - $16.27

52wk Range

$11.65 - $20.61

Volume

2.3M

Avg Vol

4.2M

Gross Margin

28.08%

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Penn Entertainment's (PENN +0.31%) shares skyrocketed early in the pandemic as investors were impressed by its moves into online gambling. However, since then, the stock has cooled off as the online gambling boom has faded, and Penn has given up essentially all its pandemic-era gains.

The company owns 44 properties in 20 states, but the stock has become primarily associated with online gambling. Penn Interactive operates as an online sportsbook and casino. After acquiring Barstool Sports, Penn reached an agreement to rebrand Barstool Sportsbook as ESPN Bet in a 10-year, $2 billion deal with ESPN and let go of the Barstool brand. In November 2025, the company announced an early termination to the ESPNBet alliance with ESPN, as the results did not live up to the company's expectations.

The company also acquired theScore, another digital media and gaming platform, for $2.1 billion in 2021, helping it assert its position in online gaming, and it's now rebranding its online sports betting operation to theScore Bet. Revenue grew slightly, but the company is still operating at a loss on a generally accepted accounting principles (GAAP) basis as it appears to be waiting for its investments in digital gaming to pay off. In addition to ESPNBet and theScore, it's also begun launching standalone Hollywood Casino apps in some states.

If the company can generate significant profits from online sports betting, it looks well-positioned to be a winner.

5. DraftKings

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NASDAQ: DKNG

DraftKings

Today's Change

(-2.08%) $-0.53

Current Price

$25.01

Key Data Points

Market Cap

$12B

Day's Range

$24.68 - $25.50

52wk Range

$20.46 - $48.78

Volume

8.6M

Avg Vol

13M

Gross Margin

41.79%

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DraftKings (DKNG -2.08%), which went public through a SPAC in 2020, is the only pure-play online gambling company on this list. It has something of a duopoly in online sports betting with FanDuel, claiming 34% of the market behind FanDuel's 44%.

Like many of its peers, DraftKings has used acquisitions to help it grow. In August 2021, it spent $1.5 billion to acquire Golden Nugget Online Gaming, strengthening its position in online casino games to expand its reach beyond sports betting and daily fantasy sports.

Social distancing and stay-at-home orders during the COVID-19 pandemic led to a boom in online sports betting and gambling, and DraftKings' revenue has continued to surge well after the pandemic has faded. In 2024, revenue jumped 27% to $6.05 billion, though it's still unprofitable as it continues to spend aggressively on marketing. DraftKings did significantly narrow its operating loss to $16 million, and it's cutting jobs as it attempts to stave off competition from prediction markets.

The company reached 4.8 million monthly unique payers as of the fourth quarter of 2025, although user growth was basically flat. While it's still unprofitable, if you're looking for growth in the casino industry, DraftKings' potential is hard to beat.

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6. Caesars Entertainment

NASDAQ: CZR

Caesars Entertainment

Today's Change

(0.18%) $0.05

Current Price

$27.55

Key Data Points

Market Cap

$5.6B

Day's Range

$27.21 - $27.86

52wk Range

$17.86 - $31.58

Volume

2.4M

Avg Vol

Gross Margin

37.77%

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In 2020, Eldorado Resorts acquired Caesars Entertainment (CZR +0.18%), retaining the Caesars name after the deal. Post-merger, Caesars became the largest casino operator in the U.S., with 54 properties worldwide, including eight on the Las Vegas Strip. Caesars operates casinos in 16 states.

Eldorado had been a top casino stock prior to the merger. The company, now known as Caesars, has delivered returns of roughly 1,700% since its 2014 initial public offering (IPO), thanks in part to Eldorado's aggressive acquisition strategy. The company spent $4 billion to buy British online gaming company William Hill Group in April 2021.

Although Caesars has made strides in online gaming, the majority of its business still comes from its Las Vegas and regional casinos. Like other casino chains, Caesars seeks to leverage its national network through a loyalty program that encourages visits to multiple properties.

With a strong push into online gaming, a well-respected sportsbook, and a balanced casino business between Las Vegas and regional locations, Caesars looks well-positioned for future growth, especially if you're looking to avoid the tumult in Macau. Revenue rose 2% in 2025 from $11.2 billion to $11.5 billion as its Las Vegas business declined slightly, offset by its regional and digital business. However, Las Vegas is the most profitable of its segments.

Features to look for in casino stock

Casino stocks have evolved from the Vegas strip, and they offer investors a number of different opportunities. Here's what to look for if you're considering casino stocks.

Growth opportunities: Whether a casino is growing through online betting, new properties, Macau, or regional casinos, it's important that it has a growth strategy that is showing results.
Profitability: Casino stocks often report earnings in terms of adjusted EBITDA, but investors will want to find stocks that are also generating GAAP profits, ideally with strong operating margins. Most traditional casino operators are profitable, but online betting companies have struggled to turn a profit.
Dividend yield: Most casino operators pay dividends, and that's a key part of the equation for many investors. Look for casino stocks with healthy yields, moderate payout ratios, and a history of dividend growth.

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FAQ

FAQ: Casino stocks

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About the Author

Jeremy Bowman has been a contributing Motley Fool stock market analyst, covering technology, consumer goods, and macroeconomic trends since 2011. Before The Motley Fool, Jeremy was a newspaper reporter, restaurant manager, and English teacher abroad. He holds a bachelor’s degree in English from Colorado College and a master’s degree in business administration from American University. One of his Motley Fool headlines was briefly featured on Late Night with Stephen Colbert.

TMFHobo

@TMFBowman

Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Best Casino Stocks to Buy in 2026 and How to Invest in Them

Learn what's happening with the major players in the casino industry.

Key Points

Top casino stocks to consider

1. MGM Resorts

Key Data Points

2. Las Vegas Sands

Key Data Points

3. Wynn Resorts

Key Data Points

4. Penn Entertainment

Key Data Points

5. DraftKings

Key Data Points

6. Caesars Entertainment

Key Data Points

Features to look for in casino stock

Related investing topics

Best Entertainment Stocks for 2026 and How to Invest

Best Growth Stocks to Buy in 2026

Investing in Restaurant Stocks

Best Video Game Stocks for 2026 and How to Invest

FAQ

FAQ: Casino stocks

What casino stocks pay dividends?

What casino stocks pay dividends?

Is investing in casinos a good idea?

Is investing in casinos a good idea?

What are the most undervalued casino stocks?

What are the most undervalued casino stocks?

What is the average P/E ratio of the VanEck Gaming ETF?

What is the average P/E ratio of the VanEck Gaming ETF?

Do casino stocks do well in a recession?

Do casino stocks do well in a recession?

How can I research casino stocks before investing?

How can I research casino stocks before investing?

Are there ETFs that focus on casino stocks?

Are there ETFs that focus on casino stocks?

About the Author

Read Next

Stocks Mentioned

Premium Investing Services

Top casino stocks to consider

Key Data Points

Key Data Points

3. Wynn Resorts

Key Data Points

4. Penn Entertainment

5. DraftKings

Key Data Points

Key Data Points

Best Entertainment Stocks for 2026 and How to Invest

Best Growth Stocks to Buy in 2026

Investing in Restaurant Stocks

Best Video Game Stocks for 2026 and How to Invest

FAQ: Casino stocks

What casino stocks pay dividends?

What casino stocks pay dividends?

Is investing in casinos a good idea?

Is investing in casinos a good idea?

What are the most undervalued casino stocks?

What are the most undervalued casino stocks?

What is the average P/E ratio of the VanEck Gaming ETF?

What is the average P/E ratio of the VanEck Gaming ETF?

Do casino stocks do well in a recession?

Do casino stocks do well in a recession?

How can I research casino stocks before investing?

How can I research casino stocks before investing?

Are there ETFs that focus on casino stocks?

Are there ETFs that focus on casino stocks?

Features to look for in casino stock

Should you buy casino stocks?

Risks of investing in casino stocks

How to invest in casino stocks

Key Data Points