Billionaire Mario Gabelli Says Time Is Right To Buy Casino Stocks, Likes FIZZ, Live Entertainment Stocks

National Beverage Corp (NASDAQ:FIZZ) is engaged in the business of manufacturing and selling flavoured beverage products like sparkling water, drinks, juices for the health conscious. During the interview, Mario Gabelli states that the company’s sparkling water product “La Croix is an attractive product” and he remains bullish on the stock, which should benefit from a “strong tailwind of organic, natural and biotic free” drinks. During the second quarter, GAMCO more than doubled its stake in National Beverage Corp to 53,200 shares. Overall, nine funds tracked by Insider Monkey reported stakes in the company as of the end of June, unchanged over the quarter. The stock has surged by more than 30% year-to-date. 

Eldorado Resorts Inc. (NASDAQ:ERI)’s stock has gained 28% in the last year. GAMCO did not report holding shares of the company in its 13F for the end of June, but Gabelli said that it is another attractive and interesting smaller casino stock and believes it is a “good time to get involved in this company.” This casino entertainment company has a market value of $574 million and entered into a definitive agreement to acquire Isle of Capri casinos in September for a cash and stock transaction worth $1.17 billion. This transaction is not only expected to increase the property base of Eldorado Resorts, but also bring cost synergies of $35 million in the first year itself. A total of 22 funds tracked by us held shares of Eldorado Resorts Inc. (NASDAQ:ERI) at the end of the second quarter, having amassed 23% of its float. 

Madison Square Garden Co (NYSE:MSG) operates in the sports and entertainment industry. The company has two primary segments – the sports segment owns major USA sports franchises such as the New York Knicks, while the entertainment segment organizes live entertainment shows such as concerts and theatre shows. Mario Gabelli thinks MSG will gain because the company has video rights to many sports franchisees like the New York Knicks of the National Basketball Association and the New York Rangers. GAMCO reported ownership of  930,735 shares of Madison Square Garden Co (NYSE:MSG) as of the end of the end of June. 

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