Billionaire Mario Gabelli believes now is the right time to be buying stock in sports, esports and gambling companies.
"I want everyone to own a piece of a baseball team," the founder and CEO of Gamco Investors said on CNBC's "Squawk Box" on Friday. "And you can do it by buying shares of the Atlanta Braves. You have a 6½-year-old? You've got to own him a baseball team. Buy five shares — BATRA is the symbol."
"The second one would be basketball, which would be Madison Square Garden, and the third would be what's going on in the gaming industry: e-gaming, e-sports," he added.
Gabelli cited growth around the esports space as a compelling reason for an investment, noting that internet access, speed and broadband will continue to be critical commodities as more and more people play massively multiplayer online games like "Fortnite."