GMVHF - California dreaming for DraftKings FanDuel and Barstool with sports betting teed up on the ballot

There is growing buzz in the sports betting sector about voters in California potentially approving a ballot measure in November sponsored by DraftKings (NASDAQ:DKNG), BetMGM (MGM) (OTCPK:GMVHF) and Flutter Entertainment's (OTCPK:PDYPY) FanDuel over a competing measure that would limit in-person sports betting at tribal casinos and four race tracks. Penn National Gaming (PENN) and Wynn Resorts (WYNN) are also supporters of the California sports betting initiative and have highlighted the long-term opportunity. On the recent DraftKings (DKNG) earnings call (read full transcript), CEO Jason Robbins said the company was very excited by the momentum for sports betting in California, which he called a significant revenue and adjusted EBITDA opportunity for the company. Robbins noted that California has approximately 12% of the United States population and is the fifth largest economy in the world ranked by GDP. Also weighing in, Roundhill Investment's Brian Lichtor said there are significant implications for the

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California dreaming for DraftKings, FanDuel and Barstool with sports betting teed up on the ballot