Morgan Stanley Bullish Sports Bet View Supported by Latest Wins

Monday’s passage of sports betting bills by Arizona and Maryland legislatures support Morgan Stanley’s bullish view that an “unprecedented number of states will legalize sports betting and/or iGaming this year,” analyst Thomas Allen writes.

• Sector concern has recently been focused on New York’s “operator-unfriendly legalization last week,” but Allen calls N.Y. “the exception rather than new norm”
• Arizona and Maryland bills are the “polar opposite” of N.Y., he says, highlighting favorable tax rates and broader license distribution
  • “Rather than creating a structure that will likely limit the number of operators in the mkt, AZ will give out 20 licenses while ...