Making A List Of The Top Entertainment Stocks Now? 4 To Consider

You’ve likely heard the news, the next round of stimulus checks is either on the way or already in consumers’ bank accounts. Among the countless avenues for consumers to spend discretionary dollars, the entertainment industry could be a prominent target. Likewise, investors could be targeting the top entertainment stocks now. After all, some entertainment companies had record years in 2020 because their offerings kept the general public occupied at home.

Take Sony (NYSE: SNE) for example. The video game console developer sold a massive 4.5 million units of its PlayStation 5 consoles at launch. In turn, this boosted its sales figures, making it the most profitable year for Sony’s Games & Network division. Even SNE stock has more than doubled in the past year. Aside from that, leading global audio entertainment company Spotify (NYSE: SPOT) continues to break new ground. The company boasts over 155 million premium subscribers with 345 million monthly active users (MAU). In the long run, Spotify is now gunning for the 1 billion MAU mark with its current lead in the industry.

Elsewhere, even conventional forms of pre-pandemic entertainment continue to pick up steam as pandemic conditions improve. Prime examples would be tourism industry players like Wynn Resorts (NASDAQ: WYNN) and Airbnb (NASDAQ: ABNB). On that note, here are four top entertainment stocks to watch that could stand to benefit from the economy reopening.

Best Entertainment Stocks To Watch Now

MGM Resorts International

First up we have MGM Resorts International. In brief, MGM is a global hospitality and entertainment company that operates a series of destination resorts across the U.S. Like most of its peers in the hospitality industry, MGM was hit hard at the onslaught of the pandemic. The company’s key tourism business was virtually halted because of this. However, MGM leveraged its existing casino infrastructure and is now banking on the online sports betting boom. With growing interest in online gambling as a means of entertainment worldwide, MGM stock could be a unique investment opportunity. Evidently, investors appear to think so seeing as MGM stock has almost quadrupled in value over the past year.

entertainment stocks (MGM stock)
Source: TD Ameritrade TOS

Yesterday, the company redeemed operating partnership units from the MGM Growth Properties Operating Partnership for cash proceeds of $1.2 billion. CFO Jonathan Halkyard noted that MGM’s strong liquidity position continues to be an “invaluable asset” to the company amidst these times. Furthermore, the company also announced a partnership with Buffalo Wild Wings (BWW) last week. Through the partnership, BetMGM users get special access to custom betting experiences when physically at a BWW location.

Not to mention, BWW will also host an in-bar channel that delivers sports betting content such as live game odds and betting advice. With MGM using its pandemic-grown business to fuel future business strategies, could MGM stock be worth watching now? You tell me.

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RumbleOn Inc.

Following that is e-commerce company RumbleOn Inc. To begin with, RumbleOn is an e-commerce platform that connects used vehicle dealers to consumers. The company does so completely in the online medium. For one thing, RumbleOn is a serious contender in the used-car industry as it provides dealers with comprehensive sales solutions. The likes of which are integrated on its virtual inventory and 24/7 distribution platform. All in all, RumbleOn enables dealers and consumers to transact regardless of geographic boundaries transparently and efficiently. More importantly, RMBL stock surged by over 47% during intraday trading yesterday. This is thanks to its recent entry into the recreational automotive industry.

top entertainment stocks to watch (RMBL stock)
Source: TD Ameritrade TOS

In detail, RumbleOn revealed that it would be merging with the nation’s largest Powersports dealer, RideNow. The duo will be the first omnichannel customer experience in Powersports and the largest publicly traded Powersports dealership platform. Indeed, you could say that RideNow’s significant physical retail platform would synergize well with RumbleOn’s e-commerce infrastructure.

According to management, the new platform could be looking at a total addressable market of over $100 billion. This could bode well for the company moving forward seeing as millions of Americans are getting vaccinated daily. Time will tell if RumbleOn can make the most of the upcoming post-pandemic Powersports vehicle market. Regardless, will you be watching RMBL stock now?

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Century Casinos Inc.

Another entertainment company making waves now would be Century Casinos. For some context, Century is a Colorado-based gaming company. It operates eleven casinos across several U.S. states and England. Additionally, Century also operates casinos on cruise ships for Diamond Cruise International. If that wasn’t enough, the company also owns a 67% share in Casinos Poland, which operates seven casinos in Poland. For investors looking to bank on small-cap players in the sports betting industry, CNTY stock would make for a viable entry point. In fact, CNTY stock is up by over 32% since posting its recent quarter fiscal last week.

best entertainment stocks (CNTY stock)
Source: TD Ameritrade TOS

Diving right into it, Century posted green across the board. The company saw year-over-year gains of 26% in total revenue and 132% in earnings per share. On top of that, the company also more than tripled its earnings from operations over the same period.

Despite pandemic-related impacts on its core casino and racetrack betting businesses, the company continues to show resilience and growth. Just last month, Century also re-opened its casinos in Poland. With Century seemingly kicking into high gear, will you be adding CNTY stock to your watchlist?

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Carnival Corporation

Next, we will be looking at cruise industry giant, Carnival. For the uninitiated, it is the largest travel leisure company globally. Carnival commands a massive fleet consisting of over 100 vessels across 10 cruise line brands. The Florida-based company has operations in the U.K. and Panama as well. Amongst the key reopening plays now, CCL stock has become a go-to for investors. This is no doubt because of the pent-up demand for cruise experiences built throughout the pandemic so far. This is especially clear as Carnival revealed that its cumulative advanced bookings for the first half of 2022 exceed that of 2019. Similarly, investors appear to be flocking to CCL stock as it is looking at gains of over 40% year-to-date.

entertainment stocks to buy now (CCL stock)
Source: TD Ameritrade TOS

Just last week, Carnival provided a positive update on the international front. Namely, the company announced that its Cunard U.K. cruise line will be offering a series of “luxurious summer staycation voyages”. According to management, the voyages will commence in Cunard’s Southampton home port and head for U.K. coastal waters.

The company cites the U.K. government confirming that domestic travel is “close on the horizon” as a key reason for this. With voyage sales commencing later this month, Carnival appears to be making the most of its current situation. Would you say this gives CCL stock more room to run this year?

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