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May 9 2019, 08:10 IST/BST
Gaming
The Stars Group coming to US party; Indiana legalises sports betting
- Sectors : Gaming
- Companies : William Hill plc | GAN | Entain | Flutter Entertainment plc
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| GAN | RESTRICTED | 01/04/19 | N/A | N/A | 57.0p |
| William Hill plc | NEUTRAL | 13/02/14 | Outperform | 16/02/11 | 150p |
| Flutter Entertainment plc | OUTPERFORM | 08/05/19 | Neutral | 29/08/17 | 6200p |
| Entain | NEUTRAL | 13/12/17 | N/A | N/A | 618p |
DAVY VIEW
With The Stars Group (TSG) confirmation of its media partner in the US (FOX Sports), the pathway for the next major sportsbetting operator to (properly) enter the US market is now clear. TSG will mirror its UK strategy in the expectation that the FOX Bet brand will help it rapidly build its customer base (i.e. close the gap with current market leaders such as FanDuel and DraftKings) and at an affordable rate. It had already secured access to up to 13 states (primarily through its El Dorado agreement). Separately, Indiana signed its sports betting legislation into law on Wednesday, confirming that regulatory momentum is now building in the US.
