Caesars Getting Serious About Online Gambling
Online gambling is suddenly the hottest segment of the international gambling market. DraftKings (NASDAQ: DKNG), Everi Holdings (NYSE: EVRI), GAN Limited (NASDAQ: GAN), and even Penn National Gaming (NASDAQ: PENN) have been shooting higher for the past six months on hopes that online gambling will be a highly profitable business for them.
But the traditional gambling industry may still have a few tricks up its sleeve. MGM Resorts (NYSE: MGM) is one of the biggest online gambling companies in the U.S. already, and it is slowly expanding its presence. And Caesars Resorts (NASDAQ: CZR) is only now starting to take online gambling seriously.
This week, it's Caesars that may be ready to make a big move into the market by buying its online gambling partner William Hill.
Source Fool.com
