New Jersey is ready to overtake Las Vegas as the sports betting capital of the U.S., according to The New York Post.
The state, with help from the NFL, is poised to take the lead in newly legal sports betting, the tabloid said.
"Indeed, it only took 11 months for New Jersey to overtake Nevada’s sportsbook wagers on a monthly basis when it booked $318.9 million worth of sports bets in May, versus $318.3 million for Nevada," the Post said.
In July, New Jersey posted sports bets of $251 million versus $235 million in Nevada.
Las Vegas casino stocks that could be affected include Wynn Resorts, Limited WYNN, Las Vegas Sands Corp. LVS, MGM Resorts International MGM and Melco Resorts & Entertainment Ltd MLCO.
The stocks were trading in the red across the board at the time of publication Tuesday.
Related Links:
Genting Buys Out Empire Resorts At 15% Premium
Report: Caesars, Carl Icahn Getting Close On Deal, But Price Is Sticking Point
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
