Casino stocks break higher as investors bet on strong tailwinds

Seeking Alpha2021-08-25

Bragg Gaming Group Inc. (OTCQX: BRGGF)is the leading gainer in the casino/sports betting/iGaming sector on news that the company is making the jump to the Nasdaq on Friday.

DraftKings(DKNG+4.9%)is off and running again after attracting$60M in new funds from ARK Invest and Golden Nugget Online Gaming(GNOG+4.7%)is rallying after strong earnings. Other notable gainers in early trading include Golden Entertainment(GDEN+9.1%), Red Rock Resorts(RRR+5.6%), Flutter Entertainment PLC (OTCPK: PDYPY), Elys Game Technology, Corp. (ELYS), Caesars Entertainment (CZR)and Penn National Gaming (PENN).

Analysts are pointing to several drivers of the positive vibe today, including more M&A speculation, vaccine news and the college and pro football seasons starting soon.

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