Thursday marks one of the biggest days for the golfing community as the first round of the Masters tees off in Augusta, Georgia. As golfers get ready to drive the ball, a handful of golfing, sporting, and casino/gaming stocks come into view.
Golf continues to grow in popularity, with an estimated 123 million people partaking in the sport, according to the National Golf Foundation. A number that has increased by 30% since 2016, the organization said.
“There were a record 531 million rounds played in 2023, surpassing the previous high of 529 million set in 2021.” the National Golf Foundation stated.
Golfing Stocks:
Pure golfing-focused stocks typically fly under the radar, but the sport’s biggest weekend puts a spotlight on names like Topgolf Callaway Brands Corp. (NYSE:MODG) and Acushnet Holdings Corp. (NYSE:GOLF).
On the year, MODG is +13.2% and GOLF is -1.9%.
Sporting Stocks:
While not solely targeted at golf, companies like Nike (NKE) and Under Armour (UAA) represent equipment and apparel makers for the sport. Meanwhile, DICK’S Sporting Goods (DKS) offers a high-volume retailer of equipment.
In 2024, DKS is +40.8%, NKE -18%, and is UAA -23.8%.
Casino/Gaming Stocks:
Every major sporting event draws attention to casino and gaming stocks, as sports betting has become more prevalent. Coming off the NCAA basketball tournaments, the Masters offers another chance to cash in for names like DraftKings (DKNG), PENN Entertainment (PENN) and Las Vegas Sands (LVS).
Year-to-date performances show DKNG +27.6%, PENN -30.6%, and LVS +6.6%.
The Masters tees off, putting spotlight on golf, sports and gaming stocks
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