With the news that the American government is changing its tune about online gambling, investors across Canada and the United States are scrambling to buy up gambling stocks. Under the impression that online gambling is going to experience a boom, the decision to buy gambling stocks and shares seems to be a worthwhile investment.
Some of the companies that are seeing the most improvement in the stock market are large gaming operators. Companies like Boyd, Las Vegas Sands, Wynn Resorts and MGM have seen an increase in their prices. Although they’ve only expressed a small interest in online gambling in the past, the companies are likely to be great resources when state lotteries begin launching their own gambling websites.
CNBC has published estimates that the American online gambling market is worth anywhere from $6 million to $100 billion. All of that money is currently going towards offshore gambling operators and none is being pumped back into the economy. If the American government could reclaim just a portion of that revenue, it will be the financial boost that the country has been waiting for.