Many think investing in the stock market is similar to gambling. After all, each involves making choices and taking risks.
Gambling and stock trading are both about risking capital in the hope of making a profit.
But there are some key differences: Casinos profit off the house edge built into the games. Sportsbooks win off the vig built into every bet.
Either way, the house always wins.
When you buy and sell stock, you may have to pay a brokerage fee. But you don’t have to get lucky, beat the odds, and defy the house edge to win. You can simply buy high and sell low.
Many of the new online casinos and sportsbooks entering Ontario’s new competitive online gambling market are run by publicly traded companies. That means you can invest in gaming stocks and, for a change, win when the house does.
Here are 10 gaming companies coming to Ontario whose stocks you might have interest in.
1. Flutter Entertainment PLC
- London Stock Exchange: FLTR
- Price: Closed on March 16 at 9,260.00 GBX (15,375.35 CAD)
- Online gambling brand: FanDuel, PokerStars
- Overview: Merger of European online gambling giants Paddy Power and Betfair that recently acquired FanDuel and PokerStars brands.
- Canadian entry: Already in Canada with PokerStars as a grey market operator and FanDuel in DFS. Planning to get licensed and lead the Ontario market.
2. Entain PLC
- London Stock Exchange: ENT
- Price: Closed on March 16 at 1,581.00 GBX (2,625.10 CAD)
- Online gambling brand: PartyPoker, bwin, Sports Interaction
- Overview: Mostly European online casino and sportsbook operator formerly known as bwin.party and GVC Holdings.
- Canadian entry: Several brands licensed by the Kahnawake Gaming Commission to operate in Canada. Acquired Kahnawake’s Sports Interaction Canadian sportsbook operation in 2022. Planning to acquire a license to operate in the regulated Ontario online gambling market.
3. 888 Holdings PLC
- London Stock Exchange: 888
- Price: Closed on March 16 at 197.00 GBX (327.10 CAD)
- Online gambling brand: 888
- Overview: European online casino and sportsbook operator with a growing presence in the US and Canada.
- Canadian entry: Once a grey market operator in Canada, 888 has been awarded a license to operate in the regulated Ontario online gambling market launching April 4.
4. Caesars Entertainment Inc
- NASDAQ: CZR
- Price: Closed on March 16 at 79.34 USD (100.46 CAD)
- Online gambling brand: Caesars Interactive Entertainment, Caesars Sportsbook (William Hill)
- Overview: American hotel and casino giant with more than 50 properties around the world.
- Canadian entry: Its Caesars Windsor Hotel & Casino property should be the home base for Caesars’ online gambling ops in Ontario.
5. Penn National Gaming, Inc
- NASDAQ: PENN
- Price: Closed on March 16 at 44.77 USD (56.69 CAD)
- Online gambling brand: theScoreBet, Hollywood Casino, Barstool Sportsbook
- Overview: US casino and racetrack operator based in Pennsylvania that acquired Toronto-based sports media and gambling brand Score Media and Gaming Inc. in 2021.
- Canadian entry: Score Media and Gaming was a publicly-traded company on the Toronto Stock Exchange before Penn acquired it. Score founder and CEO John Levy helped lobby for single-game wagering in Canada.
6. MGM Resorts International
- New York Stock Exchange: MGM
- Price: Closed on March 16 at 42.17 USD (53.39 CAD)
- Online gambling brand: BetMGM
- Overview: Massive gaming, entertainment, and hospitality company that runs destination resorts all over the US.
- Canadian entry: Chief Revenue Officer Matt Prevost said BetMGM was looking toward expansion into Canada when the company signed hockey legend Wayne Gretzky as a brand ambassador in 2021.
7. Draftkings Inc.
- NASDAQ: DKNG
- Price: Closed on March 16 at 18.32 USD (23.30 CAD)
- Online gambling brand: DraftKings
- Overview: Daily fantasy sports leader turned online sportsbook with casino games.
- Canadian entry: Already in Canada as a DFS operator, DK has been circling the Ontario online gambling market since early 2021.
8. Kindred Group PLC
- Stockholm Stock Exchange: KIND-SDB
- Price: Closed on March 16 at 101.10 SEK (13.55 CAD)
- Online gambling brand: Unibet
- Overview: European online casino and sportsbook operator that trades on the Nasdaq Stockholm AB, formerly the Stockholm Stock Exchange.
- Canadian entry: Already a grey market casino and sportsbook operator in Canada, Kindred has hired a country manager in Ontario looking to get the Unibet brand licensed and regulated.
9. Rush Street Interactive Inc
- New York Stock Exchange: RSI
- Price: Closed on March 16 at 8.86 USD (11.22 CAD)
- Online gambling brand: BetRivers, Sugarhouse
- Overview: US casino operator based in Illinois with a growing online gambling brand in BetRivers.
- Canadian entry: Launched a free-to-play online casino and sportsbook in Ontario in 2021 and expects to launch a real-money version when it can.
10. PointsBet Holdings Ltd
- Australian Securities Exchange: PBH
- Price: Closed on March 16 at 3.4900 AUD (3.25 CAD)
- Online gambling brand: PointsBet
- Overview: Australian sports betting and online gambling operator expanding into the US and Canadian market.
- Canadian entry: Launched PointsBet Canada in 2021, creating a Canadian platform for operations here.