Legal Sports Betting Coming to the US Nationwide

$PENN, $CZR

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.”

Stay tuned…

  analysis, betting, court, CZR, gambling, PENN, sports

The following two tabs change content below.

• Bio
• Latest Posts

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

Latest posts by Paul Ebeling (see all)

• 2020: Gauging the Collector Car Market - January 18, 2020
• 2020: Wall Street Extends Rally Ahead of a Long Holiday Weekend - January 17, 2020
• Wall Street’s Key Stock Analysts Research Reports - January 17, 2020