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Pennsylvania made sports gambling legal in to pay attention more in ,β said Allen, who expects the sports betting market to reach.
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Track all of the legislation related to legal sports betting in the United States for View map of active bills and links to full bill info in each state.
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Jay Inslee officially signed a bill into law on March 25, makes the state the 21st to legalize sports betting Maryland and South Dakota lawmakers approved.
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The rapid adoption of sports betting not only has the potential to boost state revenues. Yet, these stocks are all leveraged toward sports betting. Twenty states have legalized sports betting in recent years and several others are trying to join the club. That estimate, he said in a note, "which looks increasingly conservative" given how fast states are moving to legalize sports betting. Key Points. These stocks were on fire this year. CNBC Newsletters. Montana, North Carolina and West Virginia are also among the 20 states that have legalized sports betting. Data also provided by. Wheatcroft said Churchill Downs and Eldorado Resorts should benefit from a sports betting boom. Penn National Gaming and Boyd Gaming are among the companies that could benefit from these trends given their regional exposure, Santarelli said. Legalizing sports betting could lead to an increase in revenue for states and it could also present investors with an attractive opportunity in Related Tags. Penn and Boyd shares are up Sign up for free newsletters and get more CNBC delivered to your inbox. Pennsylvania made sports gambling legal in New Jersey joined Pennsylvania in June More recently, Michigan's state government signed into law a series of bills that will allow residents to wager on sporting events next year. Get In Touch. News Tips Got a confidential news tip? Markets Pre-Markets U. Deutsche Bank analyst Carlo Santarelli pointed out that early revenue figures from sports betting have been "underwhelming," but noted that as states such as Iowa and Indiana start taking in sports wagers, "we expect to see a more pronounced investor focus on the impact of sports wagering on the brick and mortar operators. All Rights Reserved. Skip Navigation. Allen noted that while U. It also could make certain gaming stocks a more attractive investment in the new year.
This story is part of the Weekend Brief edition of the Evening Brief newsletter. Boyd Gaming announced last year a strategic https://kangarooperm.ru/2020/wpt-borgata-2020-results.html with daily fantasy football giant FanDuel.
MGM, for example, has its own sports wagering mobile application. Market Data Terms of Use and Disclaimers.
James Wheatcroft, an equity analyst at Jefferies, is even more bullish on sports betting. Get this delivered to your inbox, and more info about our products and services. States are increasingly pushing for the legalization of sports betting and it could present investors with a grand opportunity in , Wall Street analysts think. By , he estimates the U. We want to hear from you.