After Donald Trump’s victory in the 2024 US Presidential election, there has been a noticeable impact on various sectors, including the gaming industry. While many crypto investors are celebrating the spike in Bitcoin prices due to Trump’s pro-crypto stance, gaming companies have also experienced a rise in share prices.
Following Trump’s win over Kamala Harris with 312 electoral votes to her 226, several gaming companies saw an increase in their stock prices. MGM Resorts International saw a 4% growth to $37.69, while Caesars Entertainment experienced a 6% rise to $41.76 in the two days after the election. Red Rock Resorts had the most significant growth at 12%, climbing from $50.92 to $56.85. This company operates the Red Rock Casino Resort & Spa in Las Vegas, among other properties.
Similarly, casino companies like Bally’s Corporation and sportsbooks like DraftKings and BetRivers owner Rush Street Interactive also saw positive movements in their share prices. Bally’s Corporation, which operates 15 casinos across ten states, saw a 1% increase in its stock. DraftKings witnessed a 7% rise in its share price from November 5 to November 7, surpassing FanDuel as the leading US online gambling operator in 2023. Rush Street Interactive also experienced a 6% growth in its shares during the same period.
The belief among investors is that Trump’s Presidency could bring positive developments for the US gaming industry. Trump’s win in key battleground states like Nevada has further fueled this optimism. In a recent analysis by VegasSlotsOnline News, the impact of Trump’s policies on the gambling industry was examined to determine if the expectations of Nevada’s casino enthusiasts are justified.
Overall, Trump’s victory in the US Presidential election has had a ripple effect on various sectors, with the gaming industry benefiting from the positive sentiment surrounding his pro-business and pro-gaming policies. Investors are hopeful that Trump’s second term will bring prosperity to the gaming sector, as evidenced by the rise in share prices of gaming companies and sportsbooks in the aftermath of the election.