Shares of the US bookmaker in the upswing

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Maximilian Deininger 11. November 2020

The upcoming legalization of sports betting in Maryland, South Dakota and Louisiana drives the stock corporations of the bookmakers upwards. This news, as well as the fact that US sports betting benefited from the restart of the great sports leagues, seems to have sufficient effect on the performance of many US bookmakers. As recently known, the shares of the sports betting providers Penn National Gaming and Draftking’s course were able to record significant price increases. However, providers who do not come from the United States were looking forward to providers. For example, the securities of Flutter Entertainment from Great Britain skyrocketed. The company is also active with a subsidiary named Fanduel on the US sports betting market.

For bookmakers in the United States, the business is almost never before, and this fact primarily prove its share prices. ((©Free-Photos/Pixabay)

Value $ 537 million

Although there are difficult times beyond the Atlantic around the Corona pandemic and currently mainly because of the US presidential election, but it has never been better for sports betting providers in the USA than now. As the news magazine Bloomberg reported recently reported, they are Shallenkourse of numerous bookmakers Climbed up significantly.

The shares of the provider Penn National Gaming and the internationally known US bookmaker Draftking were able to Book an increase of 6.55 or 5.31 percent. The spa value of the Flutter Entertainment company, which is active in the United States under the name Fanduel, also grew by a proud 4.41 percent.

Taken together, these price increases mean one Value gain in absolute figures of around $ 537 million, the equivalent of EUR 457 million. Of course, this development did not come by chance. After the professional sport in the USA started again, sports betting providers also benefited, because the rush to the betting shops was enormous. Now it was also known that the legalization of sports betting was imminent in the US states of Maryland, South Dakota and Louisiana. The American Gaming Association (AGA) was also happy about this.

“Due to successful election measures in six gaming countries, more Americans will have access to urgently needed employment opportunities, special tax revenue and secure, regulated entertainment options in the surrounding area. At the moment, some form of legal gambling is approved in 44 states, and more than 45 percent of American adults – 115 million – live in states with legal, regulated sports betting. ”Bill Miller, CEO der American Gaming Association, Press release of the American Gaming Association on the election results of Maryland, South Dakota and Louisiana

The upswing also in times of corona

Especially the fact that even in times of Corona pandemic, which the United States has hit and is still particularly difficult, it is possible to show economic successes is enough for the AGA to look into the future positively. Nevertheless it is clear that it Further work and cooperation needs to master the challenges of pandemic.

“At the 117th congress with the congress of the congress, the AGA will work together to ensure that the political decision -makers understand the commitment of our industry for responsibility and the positive economic effects that we can show in the communities across the country. We are also looking forward to continuing to work with members on both sides in order to eliminate excessive stressful and unnecessary regulations and to reduce illegal gambling offers that continue to be a risk to the American public and the economic success of our customers. However, there is still an urgent need to tackle the national economic crisis caused by the Covid 19 pandemic. ”Bill Miller, CEO der American Gaming Association, Press release of the American Gaming Association on the election results of Maryland, South Dakota and Louisiana

In view of this, it is not only gratifying for the American Gaming Association that there could be other US states in the not too distant future in which private sports betting can be legally offered. In the US states Virginia, Nebraska and Colorado was also coordinated in the gambling legislation of the respective states at the beginning of the week.

Although there was no big breakthrough, in Virginia, new casinos will soon be allowed to open in four cities. In Nebraska, bets on horse races are legalized and players from Colorado can soon be able to look forward to a broader range of gaming and the abolition of operational limits.