Benefit of Investing in Casino Shares: Best Casino Stocks to Buy Now, Market Analysis

Online casino stocks represent an intriguing investment opportunity within the broader gambling field, which has seen significant growth in recent years. The global casino gaming market was over $250 billion in 2023. North America holds the largest share, followed by Asia Pacific and Europe. In 2024, the global online gambling market is projected to reach approximately $94.4 billion, with a compound annual growth rate (CAGR) of 11.5% from 2024 to 2030. This growth is driven by regulatory changes, technological advancements in iGaming, and increased consumer demand, especially in markets like North America and Asia. 

Investing in casino shares has gained momentum as gaming recovers post-pandemic. As iGaming expands, the biggest casino stocks today continue to offer substantial returns. Investors are drawn to solid dividend yields, the sector’s ability to generate high revenues, plus its expansion into new markets like sports betting. With significant market potential, buying casino gaming stocks has become increasingly attractive to investors looking for growth and stability. 

Top 3 Gambling Companies to Consider Investing in Their Stocks in 2024:
Name of the Company:	MGM Resorts International	Aristocrat Leisure Limited	Las Vegas Sands
Main Revenue Sources:	Operates world-class destination resorts in the United States and Macau, with many gaming options.	Top global provider of iGaming technology and content, worldwide renowned for its high-quality slot machines with outstanding features, even such as pokies real money here with progressive jackpots playable on any device.	Leading international developer of integrated resorts, primarily concentrated on gambling, conventions, and entertainment.
Ticker:	MGM	ALL	LVS
Exchange:	NYSE	ASX	NYSE

 

Current Casino Stock Market Situation

The market has shown impressive growth in recent years. Factors like regulation changes, global economic recovery, and a boom in iGaming drove fluctuations. Over the past 5 years, biggest online casino shares have seen significant recovery, with major names like Las Vegas Sands and MGM Resorts leading the charge. In 2024, the market cap of leading companies continues to rise as the sector benefits from the growth of iGaming, sports betting, and expansion into emerging markets.

Top online casino stocks to buy now have attracted considerable investor interest due to solid dividend yields, high revenue potential, and resilience of the sector during economic cycles. The leaders by market cap 2024 are MGM Resorts, Wynn Resorts, Caesars Entertainment, Las Vegas Sands, and Melco Resorts & Entertainment. Such companies continue to dominate the industry. They benefit from their traditional offline operations and expand their online ventures. The ongoing shift towards digital platforms plus sports betting has made casino shares market a key area of interest for investors seeking growth with stability in 2024.

Benefit of Investing in Casino Shares in 2024 Explained

Investing in casino gaming stocks presents strong growth potential in 2024, with key factors fueling profitability in this industry. The global gambling market is expanding rapidly, especially with online gaming and sports betting’s rise. This trend opens great options for investors across traditional casinos and digital platforms. Companies like MGM and Caesars are investing in digital platforms to stay competitive. In 2023, the online gambling market generated $61 billion. Shifting consumer preferences plus increased competition create challenges for both land-based and online casinos. The key benefits of buying online casino shares now are:

• 🚀 High Revenue Potential: Major companies like MGM Resorts & Caesars Entertainment report robust revenue growth. MGM’s Q2 2024 revenue reached USD 3.7 billion, marking a 13% year-over-year increase, driven by a diversified portfolio plus digital operations.
• 🌍 Expansion into New Markets: Operators are actively entering new regions. Las Vegas Sands, for instance, capitalises on Asian market growth, while Caesars strengthens its US presence with online sports betting.
• 💰 Strong Dividend Yields: Companies like Wynn Resorts offer appealing dividends, with a current yield of 3.4%, attracting long-term investors seeking steady income.
• 🎰 Increased Online Gambling: The online gaming market is projected to hit USD 159.2 billion by 2026, growing at a CAGR of 8.5%. This surge offers significant opportunities to buy biggest casino stocks involved in digital platforms.
• ⚽ Sports Betting Boom: The legalisation of sports betting in multiple US states has driven growth. Companies like DraftKings see rapid casino share price appreciation as they expand sports betting services.
• 🏛️ Resilience Against Economic Cycles: Despite market fluctuations, casinos demonstrate resilience. Casinos depend on tourism, which fluctuates with global travel trends. When travel drops, casino revenues fall. In 2022, Las Vegas tourism rose by 17%, boosting casino revenues. The link between travel and gambling revenue is vital to share performance.

Best Casino Stocks to Own Today

Selecting the right casino stocks list to buy involves analysing financial health, market trends, plus growth potential. In 2024, trending casino shares today exhibit strong fundamentals that promise earnings with strategic expansion plans. When choosing them, consider the given factors:

1. Market Trends: Identify companies benefiting from current industry trends, such as online gambling and sports betting. ESG factors influence investor decisions. Casinos that improve their environmental footprints, social responsibility, and governance attract long-term investment.
2. Financial Metrics: Examine key economic indicators like market cap, price-to-earnings (P/E) ratio, plus debt-to-equity (D/E) ratio. Many casinos, such as Las Vegas Sands, carry heavy debt. In 2022, Sands’ debt was $13.3 billion. High debt can limit flexibility, especially during downturns. Companies with lower debt levels have better resilience in uncertain markets.
3. Growth Prospects: Look for companies with strong expansion strategies in emerging markets. MGM Resorts is expanding into sports betting with BetMGM, while Wynn Resorts focuses on luxury resorts. Diversification reduces reliance on traditional casino revenues and shields against industry downturns.
4. Dividends: Invest in casino with solid dividend yields for long-term income potential.

List of Best Online Casino Stocks to Buy Now:

Company Name	Ticker	Market Cap (USD)	Current Price (USD)	Exchange	Price to Earnings	Debt to Equity
Wynn Resorts	WYNN	8.92B	92.50	NASDAQ	27.3	7.21
Bally’s Corp	BALY	0.86B	16.23	NYSE	12.8	1.74
Monarch Casino	MCRI	1.40B	73.50	NASDAQ	19.6	0.34
MGM Resorts International	MGM	16.10B	43.72	NYSE	19.9	2.57
Caesars Entertainment	CZR	11.20B	51.78	NASDAQ	14.2	6.28
Penn National Gaming	PENN	5.30B	31.12	NASDAQ	13.5	2.68
Century Casinos INC	CNTY	0.21B	6.73	NASDAQ	18.9	0.62
Las Vegas Sands	LVS	41.50B	53.65	NYSE	30.4	4.19
DraftKings	DKNG	13.30B	29.45	NASDAQ	N/A	0.56
Aristocrat Leisure Limited	ALL	22.80B	35.68	ASX	24.6	0.72

Companies like DraftKings & Aristocrat Leisure Limited are capitalising on the growing online gambling market. Las Vegas Sands is heavily investing in Asia, particularly Macau, to capture the growing market. Penn National Gaming and MGM Resorts International are expanding their sports betting operations, driven by new legal frameworks. Monarch Casino and Wynn Resorts offer solid dividend yields that appeal to income-focused investors.

Major players like MGM, Caesars, and Las Vegas Sands dominate the market. Smaller boutique resorts and online casinos increase competition. Tracking casino market share prices and adaptation to changes, like new tech or consumer behaviour, is vital for investors. Younger consumers prefer online and mobile gambling over traditional casinos. Online gambling grows by 11.5% annually. Companies shifting their focus towards digital platforms stand to benefit.

Aristocrat (ASX: ALL) Slot Machines Stock

Aristocrat Leisure Limited is a leading global gaming content and technology company renowned for its high-quality pokie machines. It operates in more than 90 countries. It provides innovative solutions to casinos and online platforms.

• 💵 Revenue:  AUD 5.57 billion (2023)
• 📊 Gross Profit: AUD 2.1 billion (2023)
• 🧑‍💼 Analyst Consensus: Strong Buy. Analysts favour Aristocrat due to its strong market position and consistent growth.
• 💰 Dividend Potential: Moderate. It has a history of steady dividend payments with potential for increases.

Investing in casino stocks like Aristocrat offers a solid opportunity with strong revenue growth and consistent profitability. Its leadership in the slot machine market and its expansive global presence support a positive outlook. However, market volatility and regulatory changes remain potential risks.

Wynn (NASDAQ: WYNN) Stock

Wynn Resorts operates luxury hotels and casinos in Macau, Las Vegas, and Boston. Known for its upscale amenities and premium services, Wynn has established a strong presence in the global gaming and hospitality market.

• 💵 Revenue:  USD 3.76 billion (2023)
• 📊 Gross Profit: USD 1.09 billion (2023)
• 🧑‍💼 Analyst Consensus: Strong Buy. Analysts recommend Wynn due to its significant post-pandemic recovery and expansion in Asian markets.
• 💰 Dividend Potential: Moderate. Wynn’s dividend history is consistent but varies based on market conditions.

Wynn casino resort stock shows robust financial performance with significant revenue and gross profit. Its strategic expansion in Asia, particularly Macau, and luxury branding contribute to its strong market position. Wynn faces challenges like regulatory changes in Macau and intense competition in luxury casinos. Despite these hurdles, Wynn’s NASDAQ financial resilience and market strategy make it a compelling investment option.

Bally’s (NYSE: BALY) Stock

Bally’s Corporation is a diversified gaming and hospitality company with a significant presence in the United States. It operates hotels, casinos, and racetracks across multiple states. It has been expanding its portfolio with strategic acquisitions and partnerships.

• 💵 Revenue:  USD 2.25 billion (2023)
• 📊 Gross Profit: USD 650 million (2023)
• 🧑‍💼 Analyst Consensus: Hold. Analysts are cautious due to Bally’s ongoing integration of recent acquisitions.
• 💰 Dividend Potential: Low. Bally’s has not focused on dividends, preferring to reinvest profits into growth.

Bally’s Corporation is navigating through a phase of expansion and integration. While its recent acquisitions promise long-term growth, the integration process poses short-term challenges. Its diverse portfolio and strategic positioning in various states offer a key foundation for future profitability, but cautious investor sentiment reflects immediate uncertainties surrounding its rapid expansion strategy.

Monarch Casino (NASDAQ: MCRI) Shares

Monarch Casino & Resort, Inc. owns and operates Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Black Hawk in Black Hawk, Colorado. Its upscale resort properties focus on delivering quality service.

• 💵 Revenue:  USD 482.7 million (2023)
• 📊 Gross Profit: USD 194.3 million (2023)
• 🧑‍💼 Analyst Consensus: Moderate Buy. Analysts favour Monarch casino gaming stocks due to its strong regional presence and growth potential.
• 💰 Dividend Potential: Low. It reinvests most profits into operations and expansion, offering minimal dividends.

Top Monarch Casino company shares to buy present a solid investment with notable revenue growth and strong profitability. Its strategic focus on upscale resort casinos in key locations underpins its market strength. Potential risks include economic downturns and regional market competition.

MGM Resorts International (NYSE: MGM) Stock

MGM Resorts International operates premier destination resorts in the United States and Macau, including Bellagio, MGM Grand, and Mandalay Bay. These resorts offer luxurious accommodations, world-class fun, and many gaming options.

• 💵 Revenue:  USD 13.1 billion (2023)

• 📊 Gross Profit: USD 4.2 billion (2023)

• 🧑‍💼 Analyst Consensus: Strong Buy. Analysts are optimistic about MGM’s strategic expansion in digital and international markets.

• 💰 Dividend Potential: Moderate. MGM provides regular dividends with the potential for increases aligned with revenue growth.

One of the best casino stocks to buy now and own, like this MGM one, exhibits robust financial performance with substantial revenue and profit figures. Its strategic investments in digital gaming plus international expansions drive positive analyst sentiment. Despite the promising outlook, potential downsides include market volatility and regulatory challenges in various jurisdictions.

Caesars Palace (NASDAQ: CZR) Stock

Caesars Entertainment operates some of the world’s most renowned casino brands, including Caesars Palace and Harrah’s. It has a strong presence in the US market plus international locations, offering diverse gaming, hospitality, and entertainment services.

• 💵 Revenue:  USD 10.4 billion (2023)
• 📊 Gross Profit: USD 3.5 billion (2023)
• 🧑‍💼 Analyst Consensus: Buy. Analysts recommend to invest in casino stock online by Caesars, highlighting its strategic acquisitions and market position.
• 💰 Dividend Potential: Low. Focus on reinvestment and growth over dividends.

Caesars’ best casino stock to buy today has shown consistent revenue growth and profitability. Analysts are optimistic due to strategic acquisitions and expansions. Investing in such casino company shares offers potential for long-term gains, but dividend yields are low as the company prioritises reinvestment. Market volatility and regulatory issues remain challenges.

Penn National Gaming (NASDAQ: PENN) Stock

Penn National Gaming operates over 40 gaming and racing properties across 19 US states, plus it offers an interactive gaming division. The company’s focus includes traditional casino services and expanding digital sports betting.

• 💵 Revenue:  USD 6.2 billion (2023)
• 📊 Gross Profit: USD 2.1 billion (2023)
• 🧑‍💼 Analyst Consensus: Hold. Analysts highlight steady growth but are cautious about market competition.
• 💰 Dividend Potential: Medium. It has room to increase dividends but focuses on reinvestment.

The biggest casino stocks to own by PENN have shown robust revenue growth and profitability, driven by its extensive property portfolio and digital expansion. Analysts maintain a cautious outlook due to competition but acknowledge the company’s strong market position. The share’s medium dividend potential indicates a balanced approach between shareholder returns and business growth.

Century Casinos (NASDAQ: CNTY) Shares

Century Casinos operates casinos in the US, Canada, and international markets such as Poland and Malta. It also engages in online gaming, diversifying its operations.

• 💵 Revenue:  USD 367.6 million (2023)
• 📊 Gross Profit: USD 126.4 million (2023)
• 🧑‍💼 Analyst Consensus: Hold. Analysts see stable growth of Century online casino stocks but remain cautious about global economic challenges.
• 💰 Dividend Potential: Low. At present, the company is prioritising reinvestment over dividends.

Investing in Century Casinos company shares now shows strong revenue growth and profitability. Its global reach and focus on online gaming provide some resilience. Analysts remain cautious, citing uncertainties in international markets and competition. Its low dividend potential reflects its focus on reinvestment rather than returning capital to shareholders.

Las Vegas Sands (NYSE: LVS) Stock Price Today

Las Vegas Sands, a top global developer of integrated resorts, operates mainly in Macau plus Singapore, focusing on gaming, conventions, and entertainment. It holds a strong Asia-Pacific presence plus a notable U.S. footprint. Despite challenges from pandemic-driven travel declines, Las Vegas Sands shows strong recovery.

• 💵 Revenue:  USD 3.2 billion (2023)
• 📊 Gross Profit: USD 1.3 billion (2023)
• 🧑‍💼 Analyst Consensus: Buy. Analysts favour strong growth as international tourism rebounds.
• 💰 Dividend Potential: Moderate. Expected to resume dividends with the recovery of operations.

Las Vegas Sands’ solid financial performance includes steady revenue plus profit recovery post-pandemic. Its diverse holdings across Asia plus the U.S. provide a hedge against regional downturns. Positive 1-year returns indicate investor confidence in long-term growth when buying casino stocks today. Persistent challenges include geopolitical risks as well as possible disruptions in Macau’s gaming market — moderate dividend potential signals cautious capital reserve rebuilding before higher payouts.

DraftKings (NASDAQ: DKNG) Casino Stock Price News

DraftKings, a leading U.S. online gaming plus sports betting company, provides online sports betting, daily fantasy sports, plus online casinos in regulated markets. Operating in over 20 states, DraftKings leverages technology for seamless user experiences in the expanding online gambling sector. DraftKings focuses on capitalising on legal sports betting expansion nationwide.

• 💵 Revenue:  USD 3.4 billion (2023)
• 📊 Gross Profit: USD 1.1 billion (2023)
• 🧑‍💼 Analyst Consensus: Hold. Analysts expect modest growth amid fierce competition in the U.S. sports betting market.
• 💰 Dividend Potential: None. DraftKings does not currently offer a dividend, prioritising reinvestment into its growth.

DraftKings’ revenue growth reflects its market presence, with rising state-level approvals for sports betting. The company avoids dividends, reinvesting into the platform, plus market expansion. Despite modest 1-year returns, analysts remain optimistic in top casino shares due to ongoing sports betting legalisation & DraftKings’ competitive sector position. Competition from established casinos plus regulatory challenges in new markets may impact best online casino stocks price future growth.

Top Casino Stocks List with Highest Dividends

Dividends are crucial in today’s best casino stock market investments, attracting long-term investors seeking reliable income. Casinos generate steady cash flow through large customer bases, entertainment offerings, and infrastructure investments. By paying dividends, companies reward shareholders, signal financial strength, and commit to consistent returns—a crucial appeal in a fluctuating market. See the best casino company shares to buy now below for the highest dividends.

1. Vail Resorts (NYSE: MTN): Vail Resorts operates ski resorts, hotels, plus leisure services across the U.S. Its steady dividend reflects its strong cash flow from its ski resort operations, where demand remains consistent. With a revenue of USD 2.46 billion in 2023, it offers a 3.5% annual dividend yield and has a payout ratio of 58%.

2. Golden Entertainment (NASDAQ: GDEN): Golden Entertainment is a diversified casino and gaming operator with assets in Nevada as well as regional markets. It maintains a balanced payout strategy and offers dividends while reinvesting in its growing casino network. Generating USD 1.6 billion in revenue for 2023, GDEN provides a 3.3% annual dividend yield and maintains a 39% payout ratio.

3. Marriott Vacations Worldwide (NYSE: VAC): Marriott Vacations operates vacation ownership resorts with a strong dividend yield. This is supported by its consistent performance in the leisure industry. Its solid cash flow allows it to maintain regular payouts to investors. Reporting USD 5.3 billion in 2023 revenue, it delivers a 3.0% annual dividend yield with a payout ratio of 24%.

4. MGM Resorts International (NYSE: MGM): MGM Resorts is a significant player in the global casino and hospitality industry. It offers a lower dividend yield than others but remains attractive due to its consistent market presence and expansion into online gaming. MGM has achieved USD 13.1 billion in revenue in 2023 with an annual dividend yield of 1.5% and a 32% payout ratio.

5. Wynn Resorts (NASDAQ: WYNN): Wynn Resorts is known for its luxury hotels, casinos, and entertainment. Its dividends are relatively modest but remain a solid option for income-seeking gamblers. This is the reason for its premium brand and consistent revenue generation. With USD 5.7 billion in revenue for 2023, Wynn Resorts offers a 1.4% annual dividend yield and holds a payout ratio of 29%.

Dividends are vital for the long-term appeal of these best casino stocks to own today. Companies like Vail Resorts and Golden Entertainment offer higher yields, attracting income-focused investors. While the biggest casino shares to buy, like MGM Resorts as well as Wynn Resorts provide lower yields, they deliver value through growth potential, strong financial positioning, plus support from globally recognised brands.

How Good is The Idea of Buying Best Casino Stocks Now?

Global economic health directly affects casino gaming stocks performance today. Changes in disposable income, unemployment, and inflation influence gambling behaviour. A strong economy boosts tourism and consumer spending, benefitting casinos. Economic downturns reduce gambling activity, hurting revenues. Investing in best casino shares offers strong return potential but carries inherent risks.

Casino shares’ performance depends on various factors: market trends, regulatory changes, consumer behavior, as well as tech advancements. The global rise of online gambling, plus the casino industry’s post-pandemic recovery, has boosted top casino stocks to buy now of major players like Las Vegas Sands, MGM Resorts, & Caesars Entertainment.

Key casino assets influencers are:

• 💼 Economic Recovery: Pandemic recovery is pivotal, with many operators reporting substantial earnings. For instance, MGM Resorts posted a 35% revenue increase year-over-year in 2023.
• 📜 Regulatory Landscape: Shifts in gambling laws, like stricter online gaming regulations or tax adjustments, impact casino stock market. For example, California’s potential legalisation of online sports betting could positively affect local casinos.
• 💻 Tech Advancements: Casinos invest in online gambling, virtual reality, and blockchain. Online gaming is growing and is expected to hit $127.3 billion by 2027. Companies that adapt to new tech can unlock new revenue streams. DraftKings casino company shares rose 90% over the last year due to online engagement.
• 📉 Market Volatility: Casino shares react to market shifts, especially in the global economic landscape. Economic downturns or unforeseen events can reduce consumer spending on luxury experiences like casinos.

Key risks while invest in casino stocks today include:

• 🔍 Regulatory Risks: Online gambling regulation is growing, especially in markets like New Jersey, where 2023 revenues grew by 25%. More states are legalising online gaming, increasing revenue potential for companies like DraftKings. New regulations or taxes could squeeze margins.
• 💸 Economic Sensitivity: Casino assets are cyclical because they respond to financial shifts. Economic slowdowns or recessions often result in decreased leisure spending, which impacts casino revenue.
• 🏆 Market Competition: Online as well as mobile gambling growth increases competition for traditional casinos. Operators lagging in tech adaptation may see share underperformance.

Key growth drivers for online casino shares to own are:

• 🌎 Expansion into New Markets: With more regions legalising gambling (especially U.S. states like Michigan as well as New York embracing sports betting), market opportunities grow. First movers in emerging markets like Latin America plus Africa could see substantial gains.
• 🤝 Mergers & Acquisitions: Mergers as well as acquisitions can drive rapid growth in the casino industry. Companies seeking geographic expansion or enhanced online capabilities may target regional operators, as seen when Caesars acquired Eldorado Resorts. Such consolidation can push holdings prices higher.

Buying best casino stocks today can yield strong returns, but investors must balance growth potential with inherent risks. Market volatility plus external factors like regulatory changes make casino holdings high-risk yet high-reward.

Predictions for Casino Shares Market Future Growth for Next 3 Years

Investing in casino shares now could prove profitable, as the industry benefits from rising global demand, tech innovation, as well as recovery in major markets. Investors should consider risks related to regulatory changes, market volatility, plus economic conditions. Future leaders will adapt quickly to digital shifts plus manage regulatory challenges effectively.

• Casino stocks in 2025: Casino industry growth is expected to continue, driven by post-pandemic physical and online market recovery. Key gamblers like MGM Resorts (NYSE: MGM) will likely dominate due to their extensive international presence plus a diversified portfolio. Analysts expect online gambling to drive much of this growth, particularly in North America & Europe, where online gaming regulations are expanding.

• Predictions for 2026: Digital casinos and sports betting growth will accelerate. Las Vegas Sands (NYSE: LVS) is expected to maintain dominance in the Asia-Pacific region, benefiting from rising tourism and gaming activity in Macau. Increased online gambling regulations across several countries may present both opportunities plus challenges, potentially raising some operators’ operational costs.

• What to expect in 2027: The global casino industry could surpass USD 130 billion. The future market will likely prioritise sustainable plus responsible gambling practices as regulatory bodies focus on consumer protection plus responsible gaming. Investors could see more mergers as well as acquisitions as larger gamblers target regional operators to strengthen their positions.
• Online casino shares industry market forecasts beyond 2027: Advanced data analytics as well as AI are transforming casino experiences across online plus physical spaces. Future AI-driven personalisation plus enhanced customer retention strategies will likely boost revenue, making this trend essential for investors. Environmental sustainability in casino operations, as well as responsible gambling initiatives, will gain investor attention. Companies adopting eco-friendly practices plus promoting safe gambling policies may appeal more to socially conscious investors.

Risk Analysis in Online Casino Stock Market Investment

Casino assets face key risks investors must evaluate. Regulatory changes significantly impact performance, with governments regularly updating laws affecting operations, taxes, plus market legalisation. In 2023, Nevada’s gaming tax hike reduced casino revenues, impacting casino companies’ share prices. Online gambling expansion in Europe plus Asia remains closely tied to evolving regulations. U.S. sports betting revenue is expected to exceed $7.5 billion by 2025, depending on state laws. Market volatility shapes casino holdings’ future, with the industry highly sensitive to significant events. 

🌐 Impact of COVID-19 on Casino Shares: The COVID-19 pandemic forced over 400 casino closures globally in 2020, sharply dropping revenues. Economic recessions or natural disasters can lead to temporary shutdowns or lower consumer spending, impacting assets.

📉 Casino Gaming Stocks and Economic Crises: During the 2008 financial crisis, casino assets fell 50-60%, and disposable income and tourism declined. Understanding such factors is essential to scale market volatility when deciding if to buy casino stocks now.

Cybersecurity threats are a major risk, with online gambling increasing exposure to cyberattacks. In 2022, MGM Resorts had a data breach affecting millions of customers, underscoring the need for strong cybersecurity. Competition in the casino industry is dangerous, with new entrants and emerging markets constantly changing dynamics. Macau’s gambling revenue surpassed Las Vegas in 2019, showing regional competition’s impact. Currency fluctuations also affect international casino operators, with exchange rate volatility impacting profitability. Las Vegas Sands saw a 12% revenue decline in its Macau operations in 2022 due to unfavourable currency movements.