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2 Gambling Stocks to Avoid Like the Plague in December -Breaking

by Mike Robinson

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© Reuters. 2 Gambling stocks to avoid like the plague in December

Market uncertainty was created by the COVID-19 Omicron variation. In addition, investors’ interest in the gambling sector seems to have dwindled following the arrest of the Suncity Group CEO. We believe it would be smart to steer clear of gambling stocks Caesars Entertainment, Penn National Gaming, and Penn National Gaming, due to their financial woes. Continue reading. The gambling industry is slowly recovering from the COVID-19 disaster. Statista reports that this year’s global online and casino gambling industry is estimated to be worth $230.86 trillion. However, this is lower than the $265 billion level for 2019.

However, the current COVID-19-related uncertainties will continue to affect the gambling industry. Jerome Powell (Federal Reserve Chairman) says that the potential emergence of the Omicron variant could pose downside risks for the economy. Alvin Chau was also arrested as the CEO and founder of Suncity Group Holdings Ltd., further causing investor pessimism.

We believe it is prudent to steer clear of gambling stocks Penn National Gaming, Inc., (PENN), and Caesars Entertainment, Inc., (CZR). These stocks have seen a significant decline in their prices over the last month, and may continue to lose in the short term.

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