WASHINGTON (AP) — The government will provide its latest snapshot Thursday of the layoffs that have left tens of millions of people unemployed but that have begun to slow as states allow some businesses to reopen and fewer companies slash jobs.
Millions more people likely filed for unemployment benefits last week, after 36 million sought aid in the previous eight weeks as the coronavirus forced employers to close and sent the economy into a deep recession.
The pace of layoffs has declined for six straight weeks, and some reopened businesses have rehired a portion of their laid-off employees. By historical standards, though, the number of weekly applications remains immense.
The continuing job cuts reflect an economy that is gripped by the worst downturn since the Great Depression. The Congressional Budget Office estimates that the economy is shrinking at a 38% annual rate in the April-June quarter. That would be, by far, the worst quarterly contraction on record.
6 Gambling Stocks Ready For a Rebound
If you didn’t believe that gambling stocks are a worthwhile investment, consider this. The Business Research Company projects the global gambling market to reach $565.4 billion through 2022. That assumes that the industry will continue growing at is annual rate of 5.9%.
The gambling industry is composed of many segments. There are casinos, lotteries, and the now legalized segment of sports betting. But gambling is also broken down into offline gambling, online gambling and even virtual reality gambling. In fact, virtual reality gambling is projected to grow at an annual rate of 21.5% until 2022.
But virtual reality is only one of a number of emerging technologies that are changing the “traditional” face of the gambling industry. There are now hybrid games – the combination of online and land-based games and even augmented reality games.
And don’t forget about fantasy sports. Fantasy sports has created an entire industry and it wasn’t created for one person to have bragging rights over their buddies. Fantasy sports is a multi-million industry.
But like many other segments of the economy, gambling stocks were hit hard by the Covid-19 pandemic. Not only were casinos closed, but live sports were also put on hold. This dried up many of the traditional avenues of gambling, and gambling stocks sank lower as a result.
However, the global economy is starting to re-open. And while it was thought that casinos would be one of the last to come back, there are casinos that are starting to re-open. And, it’s becoming more and more likely that there will be live sports (likely without fans initially) sooner rather than later. And that will open up the fantasy sports market.
These stocks tend to move quickly. So now is the time to take action. That’s why we’ve created this special presentation that highlights 6 gambling stocks that are ready for a rebound. The sell-off was real, but so will the comeback. And when it does, these stocks may cost much more than they do now.
View the “6 Gambling Stocks Ready For a Rebound”.
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