Canada Passes Sports Betting Legislation: 3 Stocks That Could Benefit

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Canada Passes Sports Betting Legislation: 3 Stocks That Could Benefit

Benzinga2021-06-23

The Canadian Senate has passed Bill C-218 approving single event sports betting in the country. The billreceived57 votes for, 20 against and five abstained votes. The bill will become law in the ...

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JosesSim
·2021-06-23
DraftKings Let’s go
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1
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Sephy
·2021-06-23
Time to load up more draftkings
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1
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XiaTian
·2021-06-23
Wooh
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3
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- XiaTian:
  Game on
  2021-06-23
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Edina
·2021-06-23
Is this a good deal?
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2
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3nn
·2021-06-23
Good
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1
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Jasshw
·2021-06-23
[Miser]
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Snownny
·2021-06-23
Can any1 give me a T pls
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- 3nn:
  ?
  2021-06-23
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Paulll
·2021-06-23
Ok
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markkk
·2021-06-23
nice
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- KTX:
  K
  2021-06-23
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- BurLInG:
  Ya
  2021-06-23
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- SinWei:
  Ok
  2021-06-23
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yeyekai
·2021-06-23
Good news
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- Vaanz:
  aye
  2021-06-23
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- MugenQiang:
  yup
  2021-06-23
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- markkk:
  yes
  2021-06-23
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The billreceived57 votes for, 20 against and five abstained votes.\nThe bill will become law in the ...</p>\n\n<a href=\"https://www.benzinga.com/government/21/06/21673782/canada-passes-sports-betting-legislation-3-stocks-that-could-benefit\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MGM","symbol_name":"美高梅","start_time":0,"source_url":"https://www.benzinga.com/government/21/06/21673782/canada-passes-sports-betting-legislation-3-stocks-that-could-benefit","article_id":"1189982937","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1189982937","pubTimestamp":1624415421,"sourceInfo":{"source_id":"lsy1606299360108","name":"Benzinga"},"weMediaInfo":null,"summary":"The Canadian Senate has passed Bill C-218 approving single event sports betting in the country. 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Industry experts expect sports betting to be operating in the country by the fall.\nCanada has a population of around 38 million people, similar to the state of California, representing a large untapped market for online sports betting companies.\nHere are three companies that could benefit from the passing of Bill C-218.\nScore Media:Canadian media and sports betting company Score Media and Gaming could be one of the biggest winners with the new legislation. The company recently completed a public listing in the U.S. after previously trading OTC. Score Mediagetsaround 20% of its traffic from Canada and is a well-known brand in the country. This could help it easily capture interest from potential sports bettors through its app that is already trusted for sports news in the country.\nThe company has a deal in place with Penn National Gaming giving it access to up to 11 U.S. states over the next 20 years. As part of the deal, Penn National owns 4.9% of the company. Given its strong media presence in Canada, Score Media could quickly become an acquisition target of larger online sports betting companies.\nDraftKings:Sports betting company DraftKings Inc is seen as a winner from Canada adding sports betting. Several analystshighlightedthe Canadian market not being priced into prior estimates with launches coming in the country by 2022. Rosenblatt analyst Bernie McTernan said Canada could add $100 million in revenue for DraftKings by fiscal 2023.\nDraftKingsaddedto its daily fantasy partnership with the National Football League to include Canada. This could give a nice solid user base to DraftKings of potential sports betting customers in the country.\nMGM Resorts International:Signing Wayne Gretzky as a brand ambassador for the BetMGM brand could have been the perfect foreshadowing to Canada legalizing sports betting. BetMGM, a joint venture from MGM Resorts International and Entain,announcedthe addition of Gretzky recently in a multi-year brand ambassador deal to help with marketing efforts of the BetMGM brand in North America.\n“We’re proud to welcome him to the BetMGM team. 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any1 give me a T pls","listText":"Can any1 give me a T pls","text":"Can any1 give me a T pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123607336","repostId":1189982937,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4969215,"gmtCreate":1624422674231,"gmtModify":1663229782538,"authorId":3573976216768090,"author":{"id":3573976216768090,"authorId":3573976216768090,"name":"3nn","avatar":"https://static.tigerbbs.com/303b8f037330070d95adf2f11d86d23a","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches 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