12/8/2023 0 Comments Casino gambling on wall street![]() More than two dozen states (plus Washington, DC) have legalized betting on sports. ![]() ![]() But many casino companies have opened up online sportsbooks following a Supreme Court ruling in 2018 that let states legalize sports gambling. Las Vegas - like the rest of the United States - has been hit by a travel slowdown during the past year as a result of Covid-19. In a sign of how the US economy is changing, one of the firms getting booted from the S&P 500 to make room for the casino companies is the once-mighty Xerox They join rival S&P 500 members MGM Resorts (CZR), which is in the process of buying UK-based sports betting giant William Hill, entered the S&P 500 Monday. (PENN), which has a big stake in Dave Portnoy’s Bartsool Sports, and Caesars Entertainment But it’s March Madness on Wall Street too, as the blue-chip S&P 500 index is wagering that legal gambling is a growing trend that’s here to stay. The NCAA basketball tournament, aka March Madness, is nirvana for sports bettors.
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