We recently published a list of 12 Best Gambling Stocks to Buy According to Analysts. In this article, we are going to take a look at where Wynn Resorts, Limited (NASDAQ:WYNN) stands against other best gambling stocks to buy according to analysts.

Gambling stocks include companies that own, run, or manage lawful gambling activities and events such as horse and dog racing, online gaming, bingo, and video lottery, as well as companies that provide products or services to gaming operators.

During the COVID-19 pandemic, social isolation and stay-at-home orders spurred a boom in online sports betting and gambling. Even after the COVID-19 outbreak ended, sales continued to rise. As per Vixio Regulatory Intelligence, the US online gambling industry is estimated to generate $26.8 billion in gross revenue in 2025, up from $23.4 billion in 2024, with projections pointing to more than $41 billion by 2028. While iGaming is still restricted to a few strongholds, mobile sports betting is still on the rise, with one state recently surpassing $2 billion in yearly revenue. Under normal conditions, New Jersey’s online gambling revenue surpassed that of land-based casinos in October 2024, whereas states such as Pennsylvania and Michigan have iGaming earnings that exceed $200 million monthly.

However, expansion encounters opposition. Legalization efforts in New York, Maryland, and Louisiana continue, but union opposition and legislative friction persist. If just one of these states legalizes iGaming, it could start a domino effect. Another obstacle is tax increases; in 2024, several jurisdictions raised their sports betting tax rates, raising concerns that such high rates could impede innovation and competitiveness. Payment processing also remains a significant concern. Major financial services networks continue to restrict gambling transactions, intensifying the need for digital wallets and other workarounds, which authorities examine with caution. Meanwhile, sweepstakes platforms are growing in unregulated marketplaces, raising concerns as policymakers consider stronger regulations.

According to CasinoReports.com estimates, the US-regulated online sports betting market is anticipated to reach $150 billion by 2024, driven by 32 states that allow online gambling. The CEO and co-founder of Third Planet Affiliates, Adam Small, who owns and operates the iGaming news media company CasinoReports.com and the sports betting website Props.com, stated that the two large platforms dominate the business, accounting for around 75% of total wagers and revenue. Small believes there is still room for digital gambling to expand in the coming years, as Texas, California, and a more open Florida will deliver “a large jolt” to the digital sports gambling market. Small commented the following:

“Plus, states like Minnesota and Georgia are continually flirting with legalization, and Missouri will soon join the ranks, probably in time for the 2025 football season.”

However, Nick Slade, co-founder and chief content officer at Cipher Sports Technology Group, noted that while digital-only sportsbooks dominate the market, their long-term sustainability is questionable due to hefty user acquisition expenses. Many sportsbooks struggle with profitability and rely heavily on marketing to keep clients. Casino-backed sportsbooks, on the other hand, have a competitive advantage since they may use a variety of revenue streams, such as hotels, resorts, and luxury experiences, to increase client loyalty.

Recently, the New York State Gaming Commission released its findings for mobile sports wagering from April 2024 to March 2025. According to its report, mobile sports betting in New York grew 20% year on year to $23.9 billion in FY2024- 25, producing $2.14 billion in gross gaming revenue (GGR). January dominated with a $2.48 billion handle and $247 million in GGR, closely followed by March with $2.44 billion and $161.8 million. For the first time since legalization in 2022, the monthly volume was over $1 billion. The state raised $1.11 billion for education, with $6 million for gambling treatment and $5 million for youth sports. Fines and adjustments brought in an additional $23.3 million, including a significant $17.5 million penalty.

Methodology

For this article, we screened for companies that are involved in gambling and formed an initial list of 20 gambling stocks. Then, we selected the 12 stocks that had the highest upside potential as of April 11, 2025. We have only included stocks in our list with an upside potential of 40% or higher. The stocks are ranked in ascending order of the upside potential.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Wynn Resorts, Limited (NASDAQ:WYNN)

Analysts’ Upside Potential as of April 11: 63.01%

Wynn Resorts, Limited (NASDAQ:WYNN) is ranked fourth on our list of the Best Casino Stocks. It is a diverse casino operator that owns 72% of the Wynn Palace and Wynn Macau in Macau. It also wholly owns the Wynn and Encore in Las Vegas, as well as the Encore Boston Harbor, which opened in 2019.

Revenue climbed to $6.5 billion in 2023, with an operating profitability of $840 million. Wynn Resorts, Limited (NASDAQ:WYNN) achieved yet another record for adjusted property EBITDAR in 2024, with an annual record in Las Vegas. The company experienced exceptional operational success in Las Vegas, with table games falling flat against fierce competitors and slot handles growing by 13%, while gaming market share surged dramatically in Q4. The Macau firm generated $293 million in EBITDA in the fourth quarter, up 11% sequentially but down about 1% year on year. Despite the competitive market, it remained focused on increasing EBITDA and maintaining a high margin profile.

Stifel maintained its Buy recommendation on Wynn Resorts, Limited (NASDAQ:WYNN) shares and raised the price target from $123 to $128. Although its Q4 report and projections “probably aren’t as strong” as MGM’s, the company informs investors that “it’s pretty darn close and, more importantly, should allow WYNN shares to move higher.”

Nightview Capital stated the following regarding Wynn Resorts, Limited (NASDAQ:WYNN) in its Q4 2024 investor letter:

“Travel and entertainment are transforming as consumers prioritize experiences over material goods. This isn’t a return to pre pandemic norms—it’s a reinvention of how we connect, explore, and enjoy life. Travelers seek uniqueness and personalization, while entertainment blends digital and physical realms to create new experiences. The companies leading this evolution are redefining tradition through innovation, delivering unforgettable moments to a new generation. These businesses are not just adapting—they’re shaping the future of the experience economy.

Wynn Resorts, Limited (NASDAQ:WYNN): Core Opportunity: Wynn Resorts combines world-class properties with exposure to Macau’s rebounding gaming market and emerging luxury travel trends. Recent development projects, combined with a re-valuation of the legacy portfolio place Wynn in a compelling and overlooked position.

Competitive Advantage: Revenue Growth: Wynn’s revenues have increased 2.5x since 2007, while free cash flow has grown to $1 billion annually, all while equity has remained flat.

Portfolio Expansion: New properties in Macau, Encore Boston Harbor, and upcoming projects in the Middle East and New York enhance its global footprint…” (Click here to read the full text)

Overall, WYNN ranks 4th on our list of the 12 Best Gambling Stocks to Buy According to Analysts. While we acknowledge the potential of gambling companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than WYNN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.