It truly was a great time to buy for gaming stocks.
A message on Truth Social at 1:18 p.m. Eastern on Wednesday announced that most tariffs would have a 90-day pause.
That left just under three hours for the market to react, which led to many online casino, sports betting and land-based casino companies clawing back at least some of the losses felt since tariffs were announced on April 2.
More than 75 countries expressed the desire to negotiate trade imbalance issues, and negotiations will continue throughout a 90-day pause. Not all of the tariffs are on hold, though, with China‘s rising to 125% because of a “lack of respect.”
Biggest swings for gaming stocks
Most stocks saw double-digit growth with a significant uptick in volume compared to their 30-day volume.
| Company (ticker) | Wednesday Close | % change | Volume | 30 day avg volume |
|---|---|---|---|---|
| Bally’s (BALY) | $15.80 | 32.88% | 85,184 | 28,711 |
| Penn Entertainment (PENN) | $16.28 | 18.40% | 6,289,644 | 4,655,860 |
| Caesars (CZR) | $27.57 | 17.27% | 10,195,349 | 5,574,247 |
| MGM Resorts (MGM) | $29.93 | 16.05% | 8,912,022 | 5,824,696 |
| Inspired (INSE) | $7.70 | 15.10% | 203,350 | 152,454 |
| Wynn Resorts (WYNN) | $75.83 | 14.72% | 7,565,039 | 2,773,727 |
| Red Rock (RRR) | $42.41 | 12.79% | 994,602 | 673,873 |
| DraftKings (DKNG) | $35.84 | 12.39% | 19,168,925 | 11,177,393 |
| Full House (FLL) | $3.51 | 11.78% | 334,808 | 162,209 |
| Flutter (FLUT) | $236.67 | 11.37% | 3,720,711 | 2,228,496 |
| Boyd (BYD) | $67.55 | 11.10% | 2,402,201 | 1,009,983 |
| Genius Sports (GENI) | $9.58 | 10.50% | 2,975,408 | 3,338,393 |
| IGT (IGT) | $15.95 | 10.46% | 2,008,173 | 1,493,237 |
| Rush Street Interactive (RSI) | $11.62 | 10.04% | 1,839,277 | 2,047,713 |
| Las Vegas Sands (LVS) | $33.73 | 9.87% | 12,711,352 | 6,112,450 |
| Century (CNTY) | $1.51 | 9.42% | 299,736 | 83,036 |
| Sportradar (SRAD) | $22.45 | 8.24% | 2,428,910 | 1,109,536 |
| Churchill Downs (CHDN) | $105.90 | 8.06% | 899,642 | 644,467 |
| Monarch (MCRI) | $77.26 | 6.68% | 134,331 | 111,495 |
| Golden (GDEN) | $26.62 | 6.39% | 379,868 | 230,378 |
The four stocks at the top of the table both have online and land-based operations. While certainly part coincidence, it makes sense for companies that would have felt economic downturn from higher costs of living on multiple fronts to see the largest jumps.
Those four — Boyd, Penn, Caesars and MGM — are also regional casino operators that depend on the economic health of the average American more than gaming companies centered around Las Vegas.
Changes since tariff announcement close
Stifel recently called out Flutter, the publicly listed parent company of FanDuel, and IGT as two gaming stocks to own through a recession.
It is not a huge surprise, then, to see Flutter as one of six gaming stocks listed that are up positively since April 2.
| Company (ticker) | Price Wednesday | Close post tariffs 4/2 | Difference through Wednesday |
|---|---|---|---|
| Bally’s (BALY) | $15.80 | $13.13 | 20.34% |
| Caesars (CZR) | $27.57 | $26.27 | 4.95% |
| DraftKings (DKNG) | $35.84 | $34.43 | 4.10% |
| Flutter (FLUT) | $236.67 | $229.45 | 3.15% |
| Rush Street Interactive (RSI) | $11.62 | $11.37 | 2.20% |
| Sportradar (SRAD) | $22.45 | $22.20 | 1.13% |
| Boyd (BYD) | $67.55 | $67.58 | -0.04% |
| Red Rock (RRR) | $42.41 | $43.07 | -1.53% |
| Monarch (MCRI) | $77.26 | $79.22 | -2.47% |
| MGM Resorts (MGM) | $29.93 | $30.75 | -2.67% |
| Golden (GDEN) | $26.62 | $27.46 | -3.06% |
| IGT (IGT) | $15.95 | $16.54 | -3.57% |
| Penn Entertainment (PENN) | $16.28 | $17.17 | -5.18% |
| Churchill Downs (CHDN) | $105.90 | $111.79 | -5.27% |
| Genius Sports (GENI) | $9.58 | $10.24 | -6.45% |
| Wynn Resorts (WYNN) | $75.83 | $81.54 | -7.00% |
| Century (CNTY) | $1.51 | $1.66 | -9.04% |
| Inspired (INSE) | $7.70 | $8.68 | -11.29% |
| Las Vegas Sands (LVS) | $33.73 | $39.04 | -13.60% |
| Full House (FLL) | $3.51 | $4.24 | -17.22% |
