The Zacks Analyst Blog Highlights: Facebook, Madison Square Garden, MGM Resorts International, International Game Technology And Boyd Gaming
Zacks Investment Research | Jan 21, 2019 07:37AM ET
For Immediate Release
Chicago, IL – January 21, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include:Facebook (NASDAQ:FB) , Madison Square (NYSE:SQ) Garden Company (NYSE:MSG) , MGM Resorts International (NYSE:MGM) , International Game Technology PLC (NYSE:IGT) and Boyd Gaming Corp. (NYSE:BYD) .
Here are highlights from Friday’s Analyst Blog:
4 Stocks to Gain as Sports Betting Breaks New Ground
The U.S. Supreme Court has now opened a gigantic sports betting market, helping the American Gambling Association to check $150 billion bet illegally on sports every year. Sports gambling won’t be regulated by the Federal Government anymore, instead the States will take charge.
Last October, the state of New Jersey handled more than a quarter billion dollars in bets, showing a 41% increase from the previous month. But, that’s just half of the $528 million that Nevada handled. Legal sports gambling, in fact, state-by-state is growing by the day. Mississippi, Delaware, West Virginia, New Mexico, Pennsylvania, Rhode Island are also leading the way. Governor of Massachusetts Charlie Baker, in the meantime, presented a proposal to legalize gambling on professional sports online and even at casinos in Massachusetts.
Many companies, big and diverse, are now positioned to gain from legalized sports betting. From casinos to sports clubs to gambling app makers, all will now be clamoring to enter the sports betting market to rake in a lot of moolah.
Some of the analysts have gone a step further and expect social media behemoths including Facebook to make the most of legalized sports betting, thanks to their humongous user base and infrastructure. Let us, thus, take a look at stocks that can provide outsized returns as U.S. legalizes sports betting —
Madison Square Garden
The Madison Square Garden Company is known for its engagement in live sports and entertainment businesses in the United States. The company owns two professional sports teams, including New York Knicks and the New York Rangers, which will surely make the most of the newly legal sports betting bonanza. Billionaire Dallas Mavericks has summed up by saying that “I think everyone who owns a top-four professional sports team just basically saw the value of their team double.”
The company currently flaunts a Zacks Rank #1 (Strong Buy). The stock’s estimated earnings growth rate for the next quarter is a whopping 260.5%, in contrast to the Zacks Investment Research
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