Casino Stocks Rally After Ruling Opens Up $4 Billion Market
- Scientific Games, MGM and Caesars all climb after decision
- Move strikes down 1992 law that forced states to bar gambling
U.S. Supreme Court Rules States Can Legalize Sports Gambling
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Shares of casino companies soared after the U.S. Supreme Court struck down a federal law that bars gambling on individual sporting events, potentially opening up a $4 billion market for the industry.
Scientific Games Corp., Boyd Gaming Corp., MGM Resorts International and Caesars Entertainment Corp. all rose in the wake of the decision. Other companies, such as online gaming giant Stars Group Inc. and International Speedway Corp., also climbed.