Online gaming stocks got hit with a triple whammy of negative headlines yesterday:
- NCAA pushing for an all-out ban on player prob bets.
- Senator Blumenthal pushing for operators to not target problem gamblers (we aren’t convinced they presently do).
- NJ proposing a tax hike on Online Sports Betting (OSB) and iCasino.
“Obviously there was a negative reaction yesterday in the stocks, but I don’t see that this is going to be a major factor,” said Gaming, Lodging, and Leisure (GLL) analyst Sean Jenkins this morning on The Call @ Hedgeye relating to the prop betting fiasco.
Watch the full clip, where Jenkins lays out his reasoning for our GLL team’s continued confidence in OSB stocks.
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