The 2021 NFL season kicked off on Thursday with Tampa Bay Buccaneers playing against Dallas Cowboys. According to sports betting analysts, this campaign could be a boon to sportsbook operators.
In the US, football is the most wagered sport, and gaming equities are evaluating that anticipation this football season. For instance, DraftKings (NASDAQ: DKNG) is up by 19.7 percent, Caesars Entertainment (NASDAQ: CZR) and PENN National Gaming (NASDAQ: PENN) are up by 12 percent.
According to Macquarie analyst Chad Beynon, iGaming names rallied last month and are expected to continue growing as more investors embrace the stock.
Macquarie analysts are bullish about nine sports betting and iGaming equities in specific. They include MGM Resorts International, DraftKings, Penn National, and BetMGM enterprise.
One trend that has become evident in the online gaming space is acquisitions. DraftKings has already announced to acquire Golden Nugget Online Gaming (NASDAQ: GNOG). Caesars is also acquiring Score Media and Gaming (NASDAQ: SCR).
MGM is also in this acquisition frenzy. The gaming giant could be in one of the biggest online gaming takeovers if they decide to make a run at Entain Plc (OTC: GMVHY)
MGM and Entain partners in running the BetMGM enterprise. Analysts believe the UK-based Entain is ripe for takeover most likely before the end of this year.