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9wang
2021-04-07

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New York Could Soon Legalize Sports Betting: A Look At Potential Winners And Losers

New York has been one of the big storylines in the online sports betting industry with the state con

New York Could Soon Legalize Sports Betting: A Look At Potential Winners And Losers

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Bentez
·2021-04-07
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News out on Tuesday show that the state could be close, but it may not be what everyone wanted.</p><p><b>What Happened:</b>&nbsp;New York could approve a limited-operator online sports betting model that was backed by Governor Andrew Cuomo. The system was opposed by state lawmakers who wanted a different system in place.</p><p>Online sports betting could be passed as part of the 2022 budget, according toAction Network.</p><p>The New York Lottery will issue requests for proposals from two mobile betting operators who will subcontract out licenses, or skins, to four sportsbook operators.</p><p>“When the budget ends, that’s when the work starts,” New York Senator Joseph Addabbo told&nbsp;Action Network.</p><p>Follow-up measures will be announced soon. Officials for the state say online sports betting could launch by September, in time for the 2021 football season.</p><p><b>Potential Winners:</b>&nbsp;New York lawmakers had proposed a plan for 14 online licenses for the state. This total came from two licenses for each of the four in-state casinos and two licenses for each of the state’s tribal casinos.</p><p>Action Network names&nbsp;<b>DraftKings</b>&nbsp;DKNG 1.87%, Fanduel, bet365, and&nbsp;<b>Rush Street Interactive</b>&nbsp;RSI 2.95%&nbsp;brand BetRivers as companies that could bid on the limited licenses.</p><p>With a possible limit of four to six skins in the state of New York, the companies that can acquire the skin could see their shares trade at a premium. With less competition, market share in New York could be more closely watched than states with double digit operators.</p><p>Online sports betting is expected to make up more than 90% of the state’s betting handle, which could top billions of dollars monthly, according to Action Network.</p><p><b>Potential Losers:</b>&nbsp;Details aren’t entirely clear who is allowed to bid on the limited number of licenses that New York would offer.</p><p>Action Network said it's not clear if second skin partners like&nbsp;<b>Penn National Gaming</b>&nbsp;PENN 2.57%&nbsp;or PointsBet can bid.&nbsp;<b>MGM Resorts International</b>&nbsp;MGM 0.12%&nbsp;could also be excluded from the bidding process.</p><p>Under the proposed terms, in-stadium betting at kiosks would be excluded. This would be a negative for a company like<b>Madison Square Garden Entertainment Corp</b>MSGE 3.15%, which owns and operates its namesake venue that hosts the New York Knicks and New York Rangers.</p><p>Tribal casinos in New York arenot happywith Cuomo’s plan, which could lead to legal challenges and delay the launch of online sports betting in the state.</p><p>Companies like&nbsp;<b>Caesars Entertainment</b>&nbsp;CZR 2.57%&nbsp;and<b>Fox Corp</b>&nbsp;FOX 1.82%, which signed deals with tribal casinos, could be excluded from statewide mobile wagering.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>New York Could Soon Legalize Sports Betting: A Look At Potential Winners And Losers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNew York Could Soon Legalize Sports Betting: A Look At Potential Winners And Losers\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-04-07 11:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>New York has been one of the big storylines in the online sports betting industry with the state considering legalizing the market in 2021. News out on Tuesday show that the state could be close, but it may not be what everyone wanted.</p><p><b>What Happened:</b>&nbsp;New York could approve a limited-operator online sports betting model that was backed by Governor Andrew Cuomo. The system was opposed by state lawmakers who wanted a different system in place.</p><p>Online sports betting could be passed as part of the 2022 budget, according toAction Network.</p><p>The New York Lottery will issue requests for proposals from two mobile betting operators who will subcontract out licenses, or skins, to four sportsbook operators.</p><p>“When the budget ends, that’s when the work starts,” New York Senator Joseph Addabbo told&nbsp;Action Network.</p><p>Follow-up measures will be announced soon. Officials for the state say online sports betting could launch by September, in time for the 2021 football season.</p><p><b>Potential Winners:</b>&nbsp;New York lawmakers had proposed a plan for 14 online licenses for the state. This total came from two licenses for each of the four in-state casinos and two licenses for each of the state’s tribal casinos.</p><p>Action Network names&nbsp;<b>DraftKings</b>&nbsp;DKNG 1.87%, Fanduel, bet365, and&nbsp;<b>Rush Street Interactive</b>&nbsp;RSI 2.95%&nbsp;brand BetRivers as companies that could bid on the limited licenses.</p><p>With a possible limit of four to six skins in the state of New York, the companies that can acquire the skin could see their shares trade at a premium. With less competition, market share in New York could be more closely watched than states with double digit operators.</p><p>Online sports betting is expected to make up more than 90% of the state’s betting handle, which could top billions of dollars monthly, according to Action Network.</p><p><b>Potential Losers:</b>&nbsp;Details aren’t entirely clear who is allowed to bid on the limited number of licenses that New York would offer.</p><p>Action Network said it's not clear if second skin partners like&nbsp;<b>Penn National Gaming</b>&nbsp;PENN 2.57%&nbsp;or PointsBet can bid.&nbsp;<b>MGM Resorts International</b>&nbsp;MGM 0.12%&nbsp;could also be excluded from the bidding process.</p><p>Under the proposed terms, in-stadium betting at kiosks would be excluded. This would be a negative for a company like<b>Madison Square Garden Entertainment Corp</b>MSGE 3.15%, which owns and operates its namesake venue that hosts the New York Knicks and New York Rangers.</p><p>Tribal casinos in New York arenot happywith Cuomo’s plan, which could lead to legal challenges and delay the launch of online sports betting in the state.</p><p>Companies like&nbsp;<b>Caesars Entertainment</b>&nbsp;CZR 2.57%&nbsp;and<b>Fox Corp</b>&nbsp;FOX 1.82%, which signed deals with tribal casinos, could be excluded from statewide mobile wagering.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DKNG":"DraftKings Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164537644","content_text":"New York has been one of the big storylines in the online sports betting industry with the state considering legalizing the market in 2021. News out on Tuesday show that the state could be close, but it may not be what everyone wanted.What Happened: New York could approve a limited-operator online sports betting model that was backed by Governor Andrew Cuomo. The system was opposed by state lawmakers who wanted a different system in place.Online sports betting could be passed as part of the 2022 budget, according toAction Network.The New York Lottery will issue requests for proposals from two mobile betting operators who will subcontract out licenses, or skins, to four sportsbook operators.“When the budget ends, that’s when the work starts,” New York Senator Joseph Addabbo told Action Network.Follow-up measures will be announced soon. Officials for the state say online sports betting could launch by September, in time for the 2021 football season.Potential Winners: New York lawmakers had proposed a plan for 14 online licenses for the state. This total came from two licenses for each of the four in-state casinos and two licenses for each of the state’s tribal casinos.Action Network names DraftKings DKNG 1.87%, Fanduel, bet365, and Rush Street Interactive RSI 2.95% brand BetRivers as companies that could bid on the limited licenses.With a possible limit of four to six skins in the state of New York, the companies that can acquire the skin could see their shares trade at a premium. With less competition, market share in New York could be more closely watched than states with double digit operators.Online sports betting is expected to make up more than 90% of the state’s betting handle, which could top billions of dollars monthly, according to Action Network.Potential Losers: Details aren’t entirely clear who is allowed to bid on the limited number of licenses that New York would offer.Action Network said it's not clear if second skin partners like Penn National Gaming PENN 2.57% or PointsBet can bid. MGM Resorts International MGM 0.12% could also be excluded from the bidding process.Under the proposed terms, in-stadium betting at kiosks would be excluded. This would be a negative for a company likeMadison Square Garden Entertainment CorpMSGE 3.15%, which owns and operates its namesake venue that hosts the New York Knicks and New York Rangers.Tribal casinos in New York arenot happywith Cuomo’s plan, which could lead to legal challenges and delay the launch of online sports betting in the state.Companies like Caesars Entertainment CZR 2.57% andFox Corp FOX 1.82%, which signed deals with tribal casinos, could be excluded from statewide mobile wagering.","news_type":1,"symbols_score_info":{"DKNG":0.9}},"isVote":1,"tweetType":1,"viewCount":1683,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":20,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":3976674,"commentId":"3976674","gmtCreate":1617771512682,"gmtModify":1680783153852,"authorId":3578566071266225,"author":{"id":3578566071266225,"idStr":"3578566071266225","authorId":3578566071266225,"name":"Bentez","avatar":"https://static.tigerbbs.com/c93ad51cf717a4ebcbd8a750e1bb06d7","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.01%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":11,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":341936508,"objectIdStr":"341936508","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Replied! 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