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Sports betting legislation advances in key areas
The developments on sports betting legislation continue to trend very favorably.
Morgan Stanley analyst Thomas Allen points to numerous reports indicating that Florida could legalize online sports betting this year with a deal with the Seminole tribe.
Allen also says a recall vote in California on Governor Newsom bodes well for sports betting. He thinks a referendum to legalize retail sports betting at tribal casinos get pushed up to November of 2021 from 2022 . That means action could flying as early as 2022.
Morgan Stanley thinks Connecticut, Louisiana and Ohio are likely to formally legalize sports betting this year. Across the border, a bill in Canada allowing single event wagering is advancing.
Opening up new states for sports betting even in incremental stages is expected to give established casino operators and iGaming operators an edge as partnerships explode.