Morgan Stanley bets big on sports betting in the USA
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The US-based management consultancy Morgan Stanley predicts that in the next few years sports betting will become a big business in the US casinos.
The company, which advises MGM on a possible bid for Caesars Resorts, estimates that sports betting could generate $216 billion legally wagered on sports by 2025.
It further predicts a US citizen on average stand to lose $43.50 a year on sports betting.
That $216 billion would result in $11 billion in revenue for the casino operators, Morgan Stanley says. That revenue figure would be equal to last year’s North American movie box office sales.
Part of the reason MGM Resorts, or any other operator, would buy Caesars Entertainment is that Caesars owns 49 casinos across 13 states, making it one of the bigger beneficiaries from legalised sports betting. Caesars is forecast to have a 9 per cent sports betting market share, Morgan Stanley says.
Source: NYPost
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