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Also, with sports betting legalized in several states, the gambling industry is gaining traction. In October, sports gamblers wagered $7 billion, representing a 20-fold-plus increase from June 2018. The global online gambling market is expected to be valued at more than $92.9 billion by 2023, almost double its current market size.
Given this backdrop, we think the stocks of popular gaming technology companies International Game Technology PLC (NYSE:IGT), 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.
