Empire resorts Inc. is a successful company that operates in the gaming and hospitality sector in New York. It is also having a strategic tie-up with bet365 company that gives it an edge in the online betting business. With its pari-mutuel wagering on horse-racing, it is involved in a million dollars business and has been successful in growing it consistently over the years. On the NASDAQ, the company trades with the symbol NYNY. The shares of nasdaq nyny at https://www.webull.com/quote/nasdaq-nyny can be bought through online brokerage accounts at the approximate rate of $9.75. Below are some reasons why investing in Empire Resorts can be profitable for you:
Good value in the market
Currently, the market capitalization of Empire resorts would be $335.79 million which is able to generate $194.85 million revenue each year. It should also be noted that the company has been receiving favorablenyny stock news over the past quarters and has build up a stable record. It is safe investment if you are looking for steady growth in the coming weeks.
Stable amidst the Covid-19 crisis
With many trading companies across the globe facing an economic crisis and major dips in their market value, Empire resorts has been able to sail steady. As of March 11th, 2020, when the Coronavirus pandemic was declared by the WHO the stock market rates of the NYNY shares were at $9.75. Thoughthe stocks haven’t witnessed any significant increase then, it should be noted that it hasn’t faced any dips either. The current stock market rate for NYNY shares stand at $9.75.
NYNY latest news
With release of NYNY’s quarterly reports, it was revealed that the trading company has faced a negative return of 73.68% on equity and a total negative net margin of 59.45% over the last quarter. this report was released on Friday, November, 4th 2019. The reported earning per share was ($0.18). Though the past few quarters show a good record, the recent fall can be attributed to recent economic events.
All in all, it can be concluded that NYNY shares are a good buy as of now. With the current stability amidst the economic crisis, it can be seen that the firm has a firm financial stability in the market. Building upon this, it is expected that the company would be having a promising future in the upcoming period as well. You can also gain stock news at https://www.webull.com/quote/nysearca-ugaz .