5 Best Gambling Stocks to Buy Now

4. Wynn Resorts, Limited (NASDAQ:WYNN)

Number of Hedge Fund Holders: 49

Wynn Resorts, Limited (NASDAQ:WYNN) is a developer and owner of top-of-the-line hotels and casinos worldwide, including Wynn Las Vegas, Encore Boston Harbor, Wynn Macau, and Wynn Palace. Wynn Resorts, Limited ranks 4th on our list of the best gambling stocks to buy now.

In May, Wynn Resorts, Limited (NASDAQ:WYNN) completed its is merging with Austerlitz Acquisition Corporation. The merge will allow greater potential for the company and seize a larger audience from North America.

This May, Morgan Stanley raised the firm’s price target to $145 from $140 and kept its Overweight rating on Wynn Resorts, Limited (NASDAQ:WYNN) shares. Morgan Staley analyst Thomas Allen mentioned that the company’s merging with the acquisition company will allow the company to be more competitive in the market.

In the first quarter of 2021, Wynn Resorts, Limited (NASDAQ:WYNN) had an EPS of $2.41, beating estimates by $1.98. The company’s operating revenue was $725.8 million, a 23% decrease from the same period of 2020. However, Wynn Resorts, Limited (NASDAQ:WYNN) has gained 27% in the past year.

By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in Wynn Resorts, Limited (NASDAQ:WYNN) worth roughly $1.07 billion.