Texas State Representative Introduces Sports Betting Legalization Bill

Rhian Hunt, The Motley Fool
·2-min read
Texas State Representative Introduces Sports Betting Legalization Bill

Texas is one of the large, high-population states that could represent a profit windfall for online sports betting companies if it ever legalizes this type of gambling. Several casino and gambling enterprises have acquired fantasy sports platforms with users in New York, Texas, Florida, and California, to position themselves for eventual legalization there. Bally's Corporation (NYSE: BALY) bought fantasy sports company Monkey Knife Fight and Caesars Entertainment (NASDAQ: CZR) make a "strategic investment" with an option to acquire the SuperDraft platform late last month, in part for this reason.