3 Casino Plays Primed for Sports Betting Profits

The U.S. Supreme Court ended Nevada’s sports betting monopoly and opened that door for other states in a six-to-three ruling on Monday. Justices agreed that a 1992 Federal prohibition violated constitutional principles, triggering strong rallies in casino operations thousands of miles from the Las Vegas Strip. Meanwhile, Nevada’s biggest companies sold off or ran in place, held down by the threat of lost revenues

Market players scrambled to find stocks that could profit from the ruling, and three names have risen to the top of the heap – Scientific Games Corporation  Penn National Gaming, Inc. and International Game Technology PLC  New Jersey is likely to offer sports betting at race tracks within weeks because the state brought the lawsuit and will have infrastructure ready to go by Memorial Day. Pennsylvania, West Virginia, Mississippi and New York could follow suit quickly, while another 12 states have introduced related legislation. (See also: Understand Betting Odds and Gambling: The Math Behind It All.)

 

Middle America casino and race track stocks rallied strongly on Monday after SCOTUS opened the door to legalized sports betting. …read more

Read more here: 3 Casino Plays Primed for Sports Betting Profits

Category: SGMS, PENN, IGT

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