Legal Sports Betting Coming to the US Nationwide
Gambling market analysis reveals that the market for legal sports betting could be as much as $60-B annually nationwide.
Analyst David Katz of the Jefferies & Company is projecting modest near-term positive effects on the gambling industry following Monday’s Supreme Court ruling.
Mr. Katz’s analysis says regional casino operators Penn National Gaming (NASDAQ:PENN) and Caesars Entertainment (NASDAQ:CZR) could be possible big winners.
The analysis says negotiating and establishing regulations and licenses could take time, and that gambling technology companies Scientific Gaming Corp. and IGT also are well-positioned to benefit from the ruling.
Representatives of the 4 publicly traded companies did not immediately respond to messages seeking comment.
Las Vegas-based MGM Resorts International welcomed an expansion of sports betting to other states, saying it offers a chance “to protect consumers and benefit the public by regulating and taxing sports betting.”
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