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3 Sports Betting Stocks Positioned for Massive Growth

Stars Group Inc (NASDAQ:TSG)

No company timed the Supreme Court decision better than online poker giant Stars Group Inc (NASDAQ:TSG), formerly known as Amaya, and the owner of the world’s largest poker site, PokerStars. The Canadian company shelled out $4.7 billion last month to acquire the U.K’s Sky Betting & Gaming, which consists of five brands, including Sky Poker and Sky Bingo.

However, the company’s leading sportsbook platform Sky Bet was clearly the main attraction, with Stars Group’s CEO calling it the ideal complement to his company’s leading poker platform. While the looming (at the time) Supreme Court decision gave the purchase that much more upside potential, Stars Group had been eagerly searching for a strong sportsbook to pair with its poker platform for some time, making a failed attempt to purchase another U.K sportsbook, William Hill, in 2016. The U.S will now offer Stars yet one more growth market for Sky Betting as it expands it into legal markets throughout the world.

Scientific Games Corp (NASDAQ:SGMS)

Scientific Games Corp (NASDAQ:SGMS), a provider of sports betting and casino gaming software, called the Supreme Court ruling an “unprecedented opportunity” for companies in the industry, suggesting that it could lead to the greatest explosion in the U.S gaming industry in decades. The company’s OpenBet sportsbook platform has been used by some of the U.K’s leading sportsbooks, including the aforementioned William Hill, Paddy Power, and SkyBet, all of which have their sights set on the U.S market.

Scientific Games Corp (NASDAQ:SGMS) should also benefit from its existing customer base in the lottery industry, which is also expected to jump headlong into sports betting. Scientific Games already provides omni-channel sports betting solutions to lottery corporations in countries where sports betting is legal, including an online platform and self-service betting stations.

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