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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精彩评论

JosesSim
2021-06-23
JosesSim
DraftKings Let’s go
Sephy
2021-06-23
Sephy
Time to load up more draftkings
Huazai
2021-06-23
Huazai
Wooh
- Huazai:
  Game on
Edina
2021-06-23
Edina
Is this a good deal?
3nn
2021-06-23
3nn
Good
Jasshw
2021-06-23
Jasshw
[Miser]

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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\">网页链接</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. The ","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"MGM":"美高梅","DKNG":"DraftKings Inc."},"translate_title":"加拿大通过体育博彩立法：3只股票可能受益","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DKNG":0.9,"MGM":0.9,"SCR":0.9},"content_text":"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.\nThe bill will become law in the coming days, according to Senator David Wells. 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. 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