#3 - SciPlay (NASDAQ:SCPL)
One of the hottest gaming segments is social casino games. And SciPlay (NASDAQ:SCPL) is perhaps the biggest name in the space. Social casino games are online versions of popular, and classic casino slot machine games. According to SciPlay, approximately 2.4 billion people played a mobile game in 2019.
In a presentation to investors, SciPlay – which was a division of Scientific Games – showed why there is so much excitement surrounding social casino games. The firm Eilers & Krejcik showed the worldwide mobile and table gaming market in 2019 was approximately $84 billion. Of that amount, social gaming was only $6 billion, not even 10%.
SPCL stock dropped nearly 50% after its initial public offering (IPO) in May. But after bottoming out in March, the stock is recovering nicely and is within shouting distance of its IPO price. The reason isn’t hard to find. SciPlay got a huge boost with the Covid-19 pandemic that took away many other forms of entertainment.
Even after a slight miss on its first-quarter earnings report, SPCL stock is continuing to move higher.
About SciPlay
SciPlay Corporation develops, markets, and operates a portfolio of social games for mobile and web platforms in North America and internationally. It offers social casino games, such as Jackpot Party Casino, Gold Fish Casino, Quick Hit Slots, 88 Fortunes Slots, MONOPOLY Slots, and Hot Shot Casino, as well as casual games comprising Bingo Showdown, Solitaire Pets Adventure, and Backgammon Live.
Read More - Current Price
- $22.94
- Consensus Rating
- Hold
- Ratings Breakdown
- 0 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $22.25 (3.0% Downside)
