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FanDuel's 50% sports betting market share in New Jersey, where online gambling is legal, was a key driver of growth. Chief executive Jeremy Peter Jackson said he was focused on driving home that. Allen noted that while U.S. Sports gambling revenues are expected to surpass $800 million this year from $249 million in 2017, gaming stocks are lagging the broader market since the Professional. Penn National Gaming stock gained as much as 9% this morning. DraftKings shares were up as much as 8.5%, while MGM Resorts rose nearly 3%, part of a wider boost for sports gambling stocks after voters in a handful of states chose overwhelmingly to expand their legal betting options.
Churchill Downs stock was a big winner from the sports gambling legalization in the US, gaining 69% due to its sports focus. These past few years, the company has been aggressive in growing via acquisitions. It's safe to say that we can anticipate further expansion deals in the future. Esports Entertainment Group (GMBL).
Sports Gambling Stocks To Watch
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