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Fox Corporation and Walt Disney’s ESPN are entering the world of Sports Betting, and there’s a chance even more media companies will want to expand into betting,
says investment consultant Telsey Advisory Group, which "could act as a catalyst for the casino operators that are able to monetize their access to Sports Betting,"
analyst Brian McGill wrote in a research note, as reported by Bloomberg. “We don’t think any of this [is] priced into the stocks of the regional” gaming companies, he said.
Media companies will look to leverage the access of gaming operators, Telsey says. And as more states move to legalize Sports Betting, McGill sees
Penn National Gaming, Churchill Downs, Full House Resorts, Boyd Gaming Corp., Golden Entertainment and MGM Resorts International
as among those best positioned to capitalize. The S&P Supercomposite Casinos and Gaming Index showed an upward trend last week, rising 1.8% intraday on Thursday.
"We are still in the early innings in overall legal Sports Betting, but the market does look like it will be significant for casino operators,
" McGill wrote. Telsey pointed out Fox Sports estimated that U.S. Sports Betting revenue would reach USD 9.6 billion by 2025.
Fox Corporation and Walt Disney’s ESPN are entering the world of Sports Betting, and there’s a chance even more media companies will want to expand into betting,
says investment consultant Telsey Advisory Group, which "could act as a catalyst for the casino operators that are able to monetize their access to Sports Betting,"
analyst Brian McGill wrote in a research note, as reported by Bloomberg. “We don’t think any of this [is] priced into the stocks of the regional” gaming companies, he said.
Media companies will look to leverage the access of gaming operators, Telsey says. And as more states move to legalize Sports Betting, McGill sees
Penn National Gaming, Churchill Downs, Full House Resorts, Boyd Gaming Corp., Golden Entertainment and MGM Resorts International
as among those best positioned to capitalize. The S&P Supercomposite Casinos and Gaming Index showed an upward trend last week, rising 1.8% intraday on Thursday.
"We are still in the early innings in overall legal Sports Betting, but the market does look like it will be significant for casino operators,
" McGill wrote. Telsey pointed out Fox Sports estimated that U.S. Sports Betting revenue would reach USD 9.6 billion by 2025.
