TLDR Online gambling is expanding across the U.S. as more states legalize it, creating new growth opportunities for casino stocks. Macau remains the world’s largest gambling market, with MGM, Las Vegas Sands, and Wynn Resorts all holding operating licenses there. DraftKings leads pure-play online betting with 34% U.S. market share, posting 30% revenue growth in 2024 to $4.77 billion. MGM hit record full-year revenue of $17.2 billion in 2024, while Las Vegas Sands posted $11.3 billion and Wynn Resorts $7.1 billion. Penn Entertainment ended its ESPN Bet partnership early in November 2025 after results fell short of expectations.
The casino sector is no longer just about the Las Vegas Strip. Between the rise of online sports betting, a recovering Macau market, and new luxury developments in places like Dubai, casino stocks in 2026 offer a range of different bets for investors.
Here is a breakdown of the top names worth watching right now.
MGM Resorts International (MGM) trades at $34.31 with a market cap of $8.8 billion. The company posted record revenue of $17.2 billion in 2024, up 7% year over year. Its Macau operations saw a 28% revenue jump to $4 billion following the removal of COVID-era restrictions. Its online joint venture BetMGM is now EBITDA-profitable and targeting $2.75 billion in revenue in 2025.
MGM Resorts International, MGM
MGM secured a new 10-year Macau gaming license in late 2022, giving it runway in the world’s biggest gambling market well into the next decade.
Las Vegas Sands (LVS) is the most Macau-focused name on this list, with five casinos there and the Marina Bay Sands in Singapore. The company sold its Las Vegas assets in 2021 for $6.25 billion to go all-in on Asia. That strategy was painful during COVID but has paid off