{"id":411,"date":"2021-06-26T00:47:28","date_gmt":"2021-06-25T21:47:28","guid":{"rendered":"https:\/\/xxbet-company.com\/caesars-draftkings-score-media-picked-as-canada-sports-bet-winners\/"},"modified":"2021-06-26T00:47:28","modified_gmt":"2021-06-25T21:47:28","slug":"caesars-draftkings-score-media-picked-as-canada-sports-bet-winners","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/pl\/caesars-draftkings-score-media-picked-as-canada-sports-bet-winners\/","title":{"rendered":"Caesars, DraftKings, Score Media Picked as Canada Sports Bet Winners"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Spis tre\u015bci<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/pl\/caesars-draftkings-score-media-picked-as-canada-sports-bet-winners\/#Equity_Impact\" title=\"Equity Impact\">Equity Impact<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/pl\/caesars-draftkings-score-media-picked-as-canada-sports-bet-winners\/#Rosier_Estimates\" title=\"Rosier Estimates\">Rosier Estimates<\/a><\/li><\/ul><\/nav><\/div>\n<p>In a widely anticipated move, Canada passed single-game sports wagering Tuesday. Wall Street analysts moved swiftly to highlight gaming equities positioned to capitalize on the new, potentially lucrative market.<\/p>\n<figure aria-describedby=\"caption-attachment-177473\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-177473 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-142x80.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-142x80.jpg?x38396\" alt=\"Canada sports betting\" width=\"1200\" height=\"675\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-1536x864.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr.jpg 1600w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-177473\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-142x80.jpg?x38396\" alt=\"Canada sports betting\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-142x80.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-1024x576.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-768x432.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr-1536x864.jpg 1536w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/scr.jpg 1600w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">Score Media advertised at the Nasdaq market site. Analysts see it as a big winner on Canada single-game sports betting. (Image: <em>CNBC<\/em>)<\/figcaption><\/figure>\n<p>The list includes US-based operators such as BetMGM, Caesars Entertainment (NASDAQ:CZR), DraftKings (NASDAQ:DKNG), Penn National Gaming (NASDAQ:PENN), as well as Toronto-based <a href=\"https:\/\/www.casino.org\/news\/score-stock-one-to-watch-as-content-canada-drive-upside\/\" rel=\"nofollow noopener\" target=\"_blank\">Score Media &#038; Gaming<\/a> (NASDAQ:SCR).<\/p>\n<div class=\"callout\">\n<p>The Safe and Regulated Sports Betting Act (Bill C-218) was passed by Canadian senators, and after it\u2019s signed into law, it heads to the country\u2019s provinces for local implementation. Ontario, the largest province, is expected to take up the matter later this year. Ontario alone is compelling, because that part of Canada is home to 14.5 million citizens, making it larger than some of the top US sports betting states, <a href=\"https:\/\/www.casino.org\/news\/single-game-sports-betting-soon-to-be-legal-in-canada-after-historic-vote\/\" rel=\"nofollow noopener\" target=\"_blank\">including Illinois, New Jersey<\/a>, and Pennsylvania.<\/p>\n<\/div>\n<p>Macquarie analyst Chad Beynon estimates the combined Canadian iGaming and sports wagering markets will be worth $4.6 billion in 2030 ($2.2 billion for sports betting and $2.4 billion for online casinos), assuming full legalization.<\/p>\n<blockquote class=\"main-blockquote\">\n<p><strong>Importantly, we believe this also shines a spotlight on Canada iGaming, where Ontario announced in its 2020 budget that it would modernize its iGaming market by opening up to private operators,<\/strong>\u201d said Beynon in a note to clients.<\/p>\n<\/blockquote>\n<p>The analyst\u2019s $4.6 billion estimate, which he acknowledges is conservative, assumes Canadian adults will spend an average of $60 a year on sports wagering and $75 annually betting in online casinos.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Equity_Impact\"><\/span>Equity Impact<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With its status as a homegrown company and the popularity of the theScore media app, Score Media has been the gaming equity most sensitive to single-game legalization in Canada. While the stock is encountering some profit-taking today, the shares are higher by 70.63 percent over the past month \u2013 a period in which C-218 passage gained momentum.<\/p>\n<div class=\"callout\">\n<p>Score Media, which <a href=\"https:\/\/www.casino.org\/news\/score-stock-rallies-in-first-day-of-us-trading-after-ipo-size-increased\/\" rel=\"nofollow noopener\" target=\"_blank\">debuted on the Nasdaq in March<\/a>, is called the \u201cbiggest winner\u201d on the C-218 news by Credit Suisse analyst Benjamin Chaiken. He adds Canada legalization has implications for the US market, where theScore Bet app is live in four states. With its home country on board, the company \u201cnow has a cash flow engine to help it opportunistically gain share\u201d south of the border. Chaiken adds that despite Score Media\u2019s recent bullishness, that move \u201conly captures a fraction\u201d of the operator\u2019s long-term potential. He has a $50 price target on the name, implying it can more than double from current levels.<\/p>\n<\/div>\n<p>Macquarie\u2019s Beynon estimates that if Score captures a 20 percent share in its home market, that could trigger an upside of 255 percent for the stock. The analyst also notes that 20 percent of the Canadian iGaming and sports betting markets would be worth 28 percent to shares of Penn National, which coincidentally owns almost 5 percent of Score Media.<\/p>\n<p>That percentage of market share would be worth 17 percent to stocks of both Caesars and DraftKings and 18 percent to MGM Resorts International (NYSE:MGM). Caesars operates a land-based casino in Ontario, while DraftKings has an agreement with the NFL in Canada and has long been viewed as perhaps <a href=\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/\" rel=\"nofollow noopener\" target=\"_blank\">the second-biggest beneficiary<\/a> of single-game approval thereafter theScore.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rosier_Estimates\"><\/span>Rosier Estimates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As is the case with the US internet casinos and sports wagering segments, <a href=\"https:\/\/www.casino.org\/news\/north-american-igaming-sports-betting-market-could-rise-to-42b\/\" rel=\"nofollow noopener\" target=\"_blank\">forecasts for those markets<\/a> in Canada vary wildly.<\/p>\n<div class=\"callout\">\n<p>Macquarie\u2019s Beynon acknowledges his $4.6 billion call is on the conservative side, while DraftKings recently said Canada is a $5 billion to $8 billion market. BetMGM sees $7 billion. Bottom line: It\u2019s a new market ripe with opportunity for online operators.<\/p>\n<\/div>\n<p>\u201cIn our view, Canada\u2019s population, household income, and sports culture (six NHL teams, one NBA team, one MLB team, and its own football league) make the country an attractive market for US operators,\u201d adds Beynon. \u201cAs such, we believe the legalization of Canada\u2019s single-game sports betting market is positive for operators such as SCR, DKNG, PENN, CZR, and MGM.\u201d<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/canada-single-game-sports-betting-seen-lifting-score-media-others\/\" target=\"_blank\">Caesars, DraftKings, Score Media Picked as Canada Sports Bet Winners<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>In a widely anticipated move, Canada passed single-game sports wagering Tuesday. Wall Street analysts moved swiftly to highlight gaming equities positioned to capitalize on the new, potentially lucrative market. Score Media advertised at the Nasdaq market site. Analysts see it as a big winner on Canada single-game sports betting. (Image: CNBC) The list includes US-based <a href=\"https:\/\/xxbet-company.com\/pl\/caesars-draftkings-score-media-picked-as-canada-sports-bet-winners\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/411"}],"collection":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/comments?post=411"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/posts\/411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media\/412"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/media?parent=411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/categories?post=411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/pl\/wp-json\/wp\/v2\/tags?post=411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}