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Institutional Investor: The Legalization Trend That Has Nothing to Do with WeedNovember 12, 2018
In May, the Supreme Court effectively legalized sports gambling, by overturning a 1992 federal law that prohibited commercial sports betting in all but four states. This new opportunity has led investors from a variety of industries to take a close look at sports gambling which, according to the article, will benefit “casinos, sportsbook operators, media companies that broadcast sports, various kinds of technology companies, and even teams themselves.”
Irwin Raij, O’Melveny partner and sports industry group co-chair, observed that many investors are gravitating toward sports gambling because they view sports data analytics as a valuable asset. “That’s why a lot of people are jumping in,” he says.
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