5 Best Casino and Betting Stocks to Buy Now
No of HFs: 28
Total Value of HF Holdings: $511 Million
CHDN is a horse racing complex located at Central Avenue in South Louisville. They are known for hosting the annual Kentucky Derby. Recently, the company announced Mike Anderson as their new president, general manager. Mike recently serves as vice president for operations and led the development and construction of more than $300 million in capital projects. Bill Mudd, president, and chief operating officer of Churchill Downs Inc., said in a news release
“Mike Anderson is a uniquely qualified leader to assume the role of President at Churchill Downs Racetrack having successfully and consistently delivered on company goals across multiple departments. Over its 146-year history, the racetrack has grown into an incredibly sophisticated and complex business organization, and Anderson is poised to lead it through continued growth and success.”
11 Best Casino and Betting Stocks to Buy Now
Our website is all about identifying and following smart investors. One of these smart investors is IAC’s Barry Diller. Diller has been buying undervalued assets/websites, nurturing and growing them, spinning out them at large valuations, and delivering huge returns to IAC’s shareholders over the years. This August IAC spun out dating website Match.com (MTCH) and invested $1 billion in MGM Resorts International. Here is what Diller said at the time in a press release:
“Over the last few months we’ve accumulated a 12% interest in MGM Resorts International (“MGM”) for an aggregate of approximately $1 billion. Investors reading that prior sentence may be surprised by some, or quite possibly all, of its components. First, we accumulated a large minority position in a public company, which is not our usual methodology. Second, the securities we purchased are common equity securities, the exact same securities that any investor wi