Casinos Ready to Bet Big on Sports Gambling [The Motley Fool]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: The Motley Fool
After Supreme Court ruling, all the major stakeholders are jockeying for position. The U.S. Supreme Court just struck down as unconstitutional the Professional and Amateur Sports Protection Act of 1992, which barred states from authorizing sports gambling. While sports betting has been legal in Nevada for decades, the court said Congress had the right to regulate sports gambling if it wanted, but if it abdicated that responsibility, then the states could move forward on their own. Although the 6-3 decision doesn't automatically legalize sports betting everywhere, states can now set up their own regulatory framework to govern it. Image source: Getty Images. Ready to go all-in Casino operators are obviously invigorated by the news, and many have been planning for this eventuality. They say they're ready to hit the ground running, and some are prepared to have sports book rooms in place within weeks. For example, MGM Resorts ( NYSE:MGM ) issued a statement say
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MGM
News
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MGM
Earnings
- 2/13/24 - Beat
MGM
Sec Filings
- 4/11/24 - Form PX14A6G
- 4/9/24 - Form 8-K
- 4/3/24 - Form 4
- MGM's page on the SEC website