The report said that New Yorkers in the past had to leave the city limits and travel to places like Atlantic City or rural Connecticut for gambling. For example, a Wall Street Journal report earlier this year reported how major real estate developers and casino operators are eyeing central locations in New York to open their entertainment centers. (NYSE:LVS) and MGM Resorts International (NYSE:MGM) to race to open gaming centers in major cities of the country. Rapid legalization of gambling and sports betting is causing major casino companies like Caesars Entertainment, Inc. Last year, commercial casinos and online sports betting apps raked in a whopping $60 billion in gambling revenues, crushing the record of $53 million revenue set in 2021, according to data from American Gaming Association. The biggest long-term growth prospect for the gambling industry remains the huge interest young Americans are showing for online sports betting and gambling. Growth Prospects of the Gambling Industry However, the figure was down 59% from the pre-pandemic levels. According to data released by Gaming Inspection and Coordination Bureau, gross gaming revenue touched $1.3 billion during February. Analysts believe this was an encouraging sign that the recovery in the Macau gaming space was not temporary and remains in place two months after China lifted its COVID-19 restrictions. In February, casino gaming revenue in Macau, one of the hottest regions when it comes to gambling, jumped 33%, beating estimates.

Overall, the gambling industry is set to thrive, thanks to a rapid legalization of sports betting and an increasing trend of legal wagering among young population all over the world. With March Madness behind us, now is the time to take a look at the sports betting and gambling industry to gauge the real, organic growth catalysts for the industry with a long-term perspective.

To see more such companies, go directly to 5 Best Gambling Stocks To Buy Now. In this article, we will take a look at the 17 best gambling stocks to buy now.

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