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U.S. Casinos and Gaming Industry Analysis

UpdatedAug 21, 2026
DataAggregated Company Financials
Companies43
  • 7D-0.8%
  • 3M3.0%
  • 1Y-37.6%
  • YTDn/a

Last week, the Casinos and Gaming industry hasn't moved much but Churchill Downs is up 4.6% in that time. As for the longer term, the industry has declined 38% in the last year. As for the next few years, earnings are expected to grow by 33% per annum.

Industry Valuation and Performance

Has the U.S. Casinos and Gaming Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 21 Aug 2026US$87.0bUS$81.6bUS$120.9m19.6x719.7x1.1x
Sun, 19 Jul 2026US$123.6bUS$94.6bUS$595.0m32x207.7x1.3x
Tue, 16 Jun 2026US$130.7bUS$94.6bUS$596.1m32.3x219.3x1.4x
Thu, 14 May 2026US$118.5bUS$94.5bUS$742.1m30.7x159.7x1.3x
Sat, 11 Apr 2026US$120.3bUS$92.8bUS$1.3b22.4x91.5x1.3x
Mon, 09 Mar 2026US$123.0bUS$92.7bUS$2.3b22.7x53.2x1.3x
Wed, 04 Feb 2026US$133.6bUS$90.3bUS$2.2b22.4x61.6x1.5x
Fri, 02 Jan 2026US$160.6bUS$89.6bUS$2.1b27.2x76.6x1.8x
Sun, 30 Nov 2025US$158.9bUS$89.5bUS$2.1b26.7x75.7x1.8x
Tue, 28 Oct 2025US$166.4bUS$91.6bUS$3.9b25.8x42.5x1.8x
Thu, 25 Sep 2025US$181.9bUS$90.9bUS$2.5b26.9x73.2x2x
Sat, 23 Aug 2025US$186.0bUS$90.6bUS$2.5b27.8x75.1x2.1x
Mon, 21 Jul 2025US$185.7bUS$90.6bUS$3.0b25.4x62.3x2x
Wed, 18 Jun 2025US$167.9bUS$91.7bUS$3.0b22.5x55.3x1.8x
Fri, 16 May 2025US$163.5bUS$92.2bUS$2.9b23.2x56.6x1.8x
Sun, 13 Apr 2025US$141.2bUS$86.5bUS$2.7b23.1x51.9x1.6x
Tue, 11 Mar 2025US$161.3bUS$86.7bUS$2.6b22.4x62.4x1.9x
Thu, 06 Feb 2025US$171.7bUS$87.5bUS$1.3b22.1x129.4x2x
Sat, 04 Jan 2025US$166.6bUS$87.5bUS$1.4b23.8x120.4x1.9x
Mon, 02 Dec 2024US$183.3bUS$87.8bUS$1.4b25.4x135x2.1x
Wed, 30 Oct 2024US$171.6bUS$89.0bUS$308.0m24.6x557.3x1.9x
Fri, 27 Sep 2024US$167.0bUS$89.1bUS$410.9m22.2x406.3x1.9x
Sun, 25 Aug 2024US$156.6bUS$89.1bUS$411.6m19.8x380.6x1.8x
Tue, 23 Jul 2024US$157.2bUS$87.2bUS$1.3b15.6x125.6x1.8x
Thu, 20 Jun 2024US$156.7bUS$87.2bUS$1.3b15.4x124.2x1.8x
Sat, 18 May 2024US$127.0bUS$74.9bUS$2.5b15.2x50.5x1.7x
Mon, 15 Apr 2024US$131.5bUS$73.1bUS$3.2b16.1x41.6x1.8x
Wed, 13 Mar 2024US$133.4bUS$73.0bUS$3.1b14.2x43.3x1.8x
Fri, 09 Feb 2024US$136.1bUS$71.6bUS$2.8b15x49x1.9x
Sun, 07 Jan 2024US$128.5bUS$69.8bUS$2.2b14.2x57.6x1.8x
Tue, 05 Dec 2023US$128.3bUS$69.8bUS$2.2b14.1x57.5x1.8x
Thu, 02 Nov 2023US$115.9bUS$68.6bUS$1.7b15.4x67.8x1.7x
Sat, 30 Sep 2023US$121.7bUS$66.4bUS$1.4b17x89.3x1.8x
Mon, 28 Aug 2023US$131.9bUS$66.5bUS$1.4b17.7x96.8x2x
Price to Earnings Ratio

96.8x


Total Market Cap: US$131.9bTotal Earnings: US$1.4bTotal Revenue: US$66.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Casinos and Gaming Industry Price to Earnings3Y Average 134.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Casinos and Gaming industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 720x which is higher than its 3-year average PE of 135x.
  • The 3-year average PS ratio of 1.7x is higher than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Casinos and Gaming industry have declined 55% per year over the last three years.
  • Meanwhile revenues for these companies have grown 7.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does U.S. Casinos and Gaming compare with similar industries?

US Market-2.09%
Consumer Discretionary-1.03%
Hospitality-1.37%
Casinos and Gaming-0.80%
Restaurants1.75%
Leisure Facilities1.70%
Hotels, Resorts and Cruise Lines-3.89%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CHDN Churchill DownsUS$93.124.6%
+US$287.9m		-9.1%PE15.8x
FLUT Flutter EntertainmentUS$99.571.3%
+US$216.9m		-66.2%PS1x
LVS Las Vegas SandsUS$45.970.4%
+US$129.5m		-14.1%PE17.2x
RSI Rush Street InteractiveUS$25.614.1%
+US$115.6m		27.0%PE92.8x
SGHC Super Group (SGHC)US$13.221.0%
+US$66.0m		13.6%PE18.4x

Latest News

MGM
US$43.17
MGM Resorts International
7D
-2.0%
1Y
19.2%
Seeking Alpha • 1h

MGM Resorts International Is Worth Betting On

Summary MGM Resorts International remains a Buy due to attractive valuation and strong balance sheet despite recent underperformance versus the S&P 500. MGM's growth is driven by MGM China and MGM Digital, while Las Vegas and regional operations face near-term headwinds from weak visitation and consumer sentiment. Management is investing in long-term growth, including the MGM Osaka resort in Japan and expanding digital and sports-betting platforms. MGM stock trades at low cash flow and EV/EBITDA multiples relative to peers, with a net leverage ratio of 1.57, reinforcing its investment appeal. Read the full article on Seeking Alpha
DKNG
US$25.03
DraftKings
7D
-4.2%
1Y
-46.9%
Seeking Alpha • 2h

DraftKings: A Great Firm I'm Not Willing To Place A Bet On

Summary DraftKings Inc. has achieved rapid revenue growth, moving from $3.67B in 2023 to $6.05B in 2025, and recently turned a net profit. DKNG's user base and average revenue per monthly unique payer continue to expand, supported by successful product diversification and a strong customer acquisition flywheel. Management guides for 2026 revenue of $6.5–$6.9B and EBITDA of $700–$900M, reflecting ongoing momentum and confidence in new offerings like DraftKings Predictions. Despite strong fundamentals, DKNG stock trades at fair but not compelling valuation multiples versus peers, justifying a Hold rating rather than a Buy. Read the full article on Seeking Alpha
MLCO
US$5.35
Melco Resorts & Entertainment
7D
-2.7%
1Y
-40.0%
CHDN
US$93.12
Churchill Downs
7D
4.6%
1Y
-9.1%
Seeking Alpha • Aug 20

Churchill Downs: Wall Street Continues To Underestimate The Kentucky Derby Empire

Summary Churchill Downs is evolving beyond horse racing, building a diversified gaming ecosystem anchored by valuable licenses, historical racing machines, and wagering technologies. Q2 2026 results set company records, with revenue up 5% to $980M and adjusted EBITDA up 6% to $477M, showcasing operational leverage. Earnings growth outpaced revenue, with adjusted diluted EPS rising 11% to $3.45, indicating improved margin conversion and management execution. The Live and Historical Racing segment delivered $575M in revenue and a 55% adjusted EBITDA margin, highlighting the strength of CHDN’s core assets. Read the full article on Seeking Alpha
BALY
US$9.82
Bally's
7D
-27.2%
1Y
4.9%
Seeking Alpha • Aug 19

Bally's: Not The Bet To Make Now, Despite Top Line Growth In Q2

Summary Bally's (BALY) receives a sell rating due to deteriorating cashflow, high leverage, and a recent going concern warning. BALY's persistent unprofitability, negative operating cashflow, and Fitch's B- rating highlight severe balance sheet and liquidity risks. The company also has a huge commitment with its new Chicago casino project. Despite robust top-line growth and portfolio expansion, BALY underperforms peers in ROE and profit margin, with no near-term recovery catalyst in sight. Valuation appears cheap on price/sales and price/book, but market skepticism persists until BALY demonstrates sustainable cashflow and reduced debt. Majority ownership by a privately held investment firm, Standard General, could be both a potential lifeline or could create over-reliance on decisions by this firm at the board level. Read the full article on Seeking Alpha
RSI
US$25.61
Rush Street Interactive
7D
4.1%
1Y
27.0%
Narrative Update • Aug 18

RSI: Exclusive Content And Buybacks Will Support A Higher Share Price

Analysts have raised their price target for Rush Street Interactive from $26.68 to $30.88, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E. These factors together support a revised view of the stock's valuation profile.
LVS
US$45.97
Las Vegas Sands
7D
0.4%
1Y
-14.1%
Narrative Update • Aug 17

LVS: Share Repurchases And 30 Day Catalyst Watch Will Drive Future Upside

The analyst price target for Las Vegas Sands has been reset lower to about $70.69 from $78.50, as analysts factor in softer Macau and Singapore trends, slightly lower modeled growth and margins, and modestly reduced future P/E assumptions following recent earnings and sector updates. Analyst Commentary Street research on Las Vegas Sands has shifted toward a lower set of price targets, but most firms still describe a generally constructive long term view on the stock.
BYD
US$80.95
Boyd Gaming
7D
-2.8%
1Y
-2.8%
MSC
US$1.80
Studio City International Holdings
7D
4.2%
1Y
-62.6%
SRAD
US$12.61
Sportradar Group
7D
-7.1%
1Y
-59.5%
Narrative Update • Aug 13

SRAD: Prediction Market And Gaming Deals Will Support 2027 Reacceleration

Sportradar Group's updated analyst price target has moved lower to $18.50 from $21.38 as analysts factor in softer Q2 revenue and EBITDA, reduced 2026 guidance, and a less supportive outlook for U.S. online sports betting and prediction market deal timing. Analyst Commentary Recent Street research on Sportradar Group reflects a wide range of opinions on the stock's risk and reward, with most firms cutting price targets but differing on how much weight to place on current execution issues versus longer term growth opportunities in sports data and prediction markets.
RRR
US$61.09
Red Rock Resorts
7D
-1.5%
1Y
2.2%
GENI
US$7.93
Genius Sports
7D
0.3%
1Y
-37.3%
SGHC
US$13.22
Super Group (SGHC)
7D
1.0%
1Y
13.6%
Seeking Alpha • Aug 09

Super Group Q2: An Expected Beat-And-Raise Report

Summary Super Group Limited reported a beat-and-raise Q2 report. The company benefits from the FIFA World Cup in Q2-Q3, but SGHC's underlying sportsbook momentum was even underwhelming in Q2. The overall SGHC growth story remains on track. I estimate SGHC stock to have 10% upside to $14.3, implying a fair overall risk-to-reward. Read the full article on Seeking Alpha
FLUT
US$99.57
Flutter Entertainment
7D
1.3%
1Y
-66.2%
Narrative Update • Aug 09

FLUT: Prediction Markets And World Cup Advertising Reset Will Support 2026 Rebound

Flutter Entertainment's updated analyst price target has been trimmed in line with a reset fair value estimate to $144.10 from $157.48, as analysts factor in rebased earnings expectations, higher investment in customer acquisition, and more conservative U.S. growth assumptions following recent Q2 updates and guidance changes. Analyst Commentary Recent Street research on Flutter Entertainment paints a mixed picture, with many analysts trimming price targets after Q2 while still highlighting key strengths and risks that matter for valuation, execution, and longer term growth.
WYNN
US$99.60
Wynn Resorts
7D
-2.7%
1Y
-10.2%
MCRI
US$125.65
Monarch Casino & Resort
7D
1.3%
1Y
19.7%
Seeking Alpha • Jul 24

Monarch Casino: Hotels Are Carrying The Crown (Rating Upgrade)

Summary Monarch Casino delivered a 6% EPS beat, with hotel segment growth and robust cash generation, despite a 5% stock pullback post-earnings. MCRI's hotel revenue rose 13% YoY, now over 15% of total revenue, driven by regional visitation trends and recent property renovations. Adjusted EBITDA margin dipped 30 bps to ~37%, mainly due to higher F&B costs and wage inflation, but SG&A remains well-controlled. I upgrade to a moderate 'Buy,' targeting $125 short-term and $140–$150 medium-term, citing strong EPS growth and M&A optionality. Read the full article on Seeking Alpha