Morgan Stanley: By 2020 Online Gambling Will be Bigger Than Vegas and AC Combined

Written by:
Aaron Goldstein
Published on:
Apr/11/2013
Morgan Stanley:  By 2020 Online Gambling Will be Bigger Than Vegas and AC Combin

Morgan Stanley upgraded Boyd Gaming’s stock to Overweight Thursday, sending its share price soaring. 

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Boyd, which is teaming up with bwin.party to offer online gambling in the US once regulation occurs, saw its shares climb 10.37% to $9.05.

Morgan Stanley claims that by 2020 online gambling in the U.S. will be as big as a business as today’s real-world gambling centers of Las Vegas and Atlantic City combined.

The analysts see Boyd as the best play on that trend.  From Motley Fool:

In our base case (now factored into our BYD estimates), we model the legal US online gaming market to be ~$670 million in 2014, increasing to $9.3 billion in 2020 (55% CAGR). Put into context, by 2020, we estimate online gaming in the US to be the same size as the current Las Vegas Strip ($6.2 billion of gaming revenue in 2012) and Atlantic City ($3 billion in 2012) markets. Note the US online gaming market was estimated to be $5.3 billion ($7.5 billion adjusted for inflation) before it was banned in late 2006.

- Aaron Goldstein, Gambling911.com

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