#6 - The Stars Group (NASDAQ:TSG)
The Stars Group (NASDAQ: TSG) - Gambling stocks, like most “sin stocks”, benefit from their ability to be monetized for political gain. But what has become a windfall for brick-and-mortar casinos has not yet translated to the online gambling space. Online gambling remains illegal in most states. In fact, only three states currently offer online casino gambling. The Stars Group is betting that their fortunes will turn. That’s because they are well-positioned to take advantage of the real growth in the industry that is projected to come from online sports betting. In 2018, TSG was named the official gaming operator of the National Basketball Association. And they have an agreement in place with Eldorado Resorts to run online betting in 11 states. But that deal is contingent upon legalization. The Federal government has ceded the issue of online gambling legalization to the states, but there remain significant hurdles before states will make online gambling, and online sports betting in particular, legal. In the meantime, TSG recently acquired Sky Betting & Gaming which is another way that they are going all in on the hope that online gambling will become more widespread in the United States.
About The Stars Group
The Stars Group Inc engages in online gaming and betting businesses primarily in Europe, Australia, and the Americas. It owns and operates gaming and related interactive entertainment businesses, such as online real-money poker, casino and betting, play-money poker, and casino and sports prediction games, which are delivered through mobile, Web, and desktop applications.
Read More - Current Price
- $27.31
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
