Due to the continuous integration of technology, gaming is among the most dynamic industries worldwide. Gaming is a lucrative business with promising future prospects. The industry has gained momentum with legalization in several states of sports betting. Popular gaming stocks International Game (IGT), Everi Holdings (NYSE:), and Inspired Entertainment (INSE) have outperformed the broader market this year and we think could be solid additions to one’s portfolio now. So, let’s give these names a closer look. Read on.The gaming industry is one of the world’s fastest-growing industries. Technological advances are expected to boost its revenue to $200 billion in 2023. In October, the American Gaming Association (AGA), reported that revenue from American commercial gaming had continued to grow, at $4.75 Billion. This is a 30.7% increase over October 2019.

The gambling industry has also seen a rise in popularity, as sports betting is now legalized across several states. The October 2018 wagering by sports gambling professionals was $7 billion. This is a 20% increase on June 2018. It is predicted that the global online gambling market will be worth more than $92.9 million by 2023. That’s almost two times its current size.

Given this backdrop, we think the stocks of popular gaming technology companies International Game Technology PLC (NYSE:), Everi Holdings Inc. (EVRI), and Inspired Entertainment, Inc. (INSE) might be reasonable additions to one’s watchlist. These stocks’ year-to-date gains have outperformed the broader SPDR S&P 500 ETF Trust’s (SPY) gains of 24.8% over the same period.

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