#4 - Boyd Gaming (NYSE:BYD)
Like MGM, Boyd Gaming (NYSE:BYD) is not a pure-play sports betting stock. And also like MGM, Boyd is a Las Vegas-based company that saw its business turned upside down due to the pandemic. But the company has its own sports betting app, B Connected Sports in addition to owning 5% of FanDuel. However, at this time, the app is only available to Nevada residents.
As 2020 wore on, Boyd was able to recognize some recovery in its land-based and riverboat casinos. But the real growth came from its on-line gaming platform. In fact, much of the 50% gain in BYD stock in 2020 was attributable to on-line gaming.
Boyd may never be able to garner the kind of market share that FanDuel or DraftKings has. However, as Las Vegas comes back into play with pent-up demand, the combination of a thriving on-premise casino business along with on-line gaming should keep BYD stock going strong in 2021.
About Boyd Gaming
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.
Read More - Current Price
- $71.20
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $91.64 (28.7% Upside)
