Boyd Gaming Corp. (NYSE: BYD) stock has posted a 46 percent growth on a year to date basis. The stock is also among the best in the gaming industry in 2019, with analysts predicting that there is still more growth to come in 2020.
According to Nomura Instinet analyst Harry Curtis, it will bring positive earnings. The properties operated by Boyd Gaming include Aliante California, Cannery, Eastside Cannery, Fremont and Suncoast Hotel, Orleans, Sam’s Town and Suncoast Hotel and Casino.
Wall Street Is Enthusiastic
According to Casino.org, analysts and investors have shown interest in Boyd stock after the advent of sports betting. Boyd Gaming partnered with FanDuel in August 2018 after the Supreme Court lifted the sports betting ban.
The partnership between Boyd and FanDuel does not just help the casino to operate sportsbook, but also give FanDuel a considerable database of fantasy games daily. Investors have embraced gaming equities, including Boyd. Penn National (NASDAQ: PENN) has also seen its stock grow in 2019 as more states legalize sports betting.
Recently, Thomas Allen of Morgan Stanley analyst noted that investors are willing to embrace sports betting stock. Allen expects that more investors will pay more attention to sports betting equities in 2020. Morgan Stanley forecast that the national sports betting in the US will rise to a $7 billion industry by 2025.