Jefferies analyst James Wheatcroft says Missouri sports betting legalization breaks a fallow period in the regulation process for operators. The state is expected to “go live” before December 2025. The firm anticipates further political progress around online legalization for both sports and iGaming as states seek incremental tax dollars. Jefferies sees several specific positives from the Missouri legalization, namely a low tax structure, in contrast to concern around higher tax rate contagion from Illinois; likely high interest in sports from Missourians given the number of high profile in-state sports franchises; and, adding another 2% of the U.S. population to a sports betting legal state. The firm notes Missouri is home to professional sports teams across three of the four major U.S. sports leagues, including the NFL, NHL and MLB, and says that Missouri legalization is a positive for Flutter Entertainment (FLUT) (FLTR) and Entain (GMVHF).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on FLUT:
- Flutter Entertainment price target raised to 22,000 GBp from 20,000 GBp at Citi
- Bet On It: Breaking down third quarter earnings
- Flutter Entertainment Confirms Shareholding Structure Update
- Flutter Entertainment Aligns Shares with UK Regulations
- UK budget alleviates some overhang on Flutter, says Wells Fargo
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
