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home / news releases / CZR - Canada eyes opening up sports betting to single events

CZR - Canada eyes opening up sports betting to single events

Caesars Entertainment Inc.
There is news from the Great White North as Justice Minister David Lametti has unveiled legislation to legalize single-event sports betting in Canada. Currently, only parlay bets are allowed in the nation. The proposed changes would allow provinces to issue licenses to companies to accept bets on all sporting events except horse racing, which would remain under a separate system. Canadians spend C$10B ($7.7B) per year on single-event betting through illegal bookies and a further C$4 billion on international betting websites.Gambling companies that could benefit from the new legislation in Canada include Score Media & Gaming (TSCRF), Mohegan Sun, GVC Holdings (GMVHF), Great Canadian Gaming (GCGMF), DraftKings (DKNG), Caesars Entertainment (CZR), Fanduel (PDYPY) and Hard Rock International.Shares of DraftKings are up 1.85% premarket to $51.15.Piper Sandler turned bullish on DraftKings last week.

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Canada eyes opening up sports betting to single events
Stock Information
Company Name: Caesars Entertainment Inc.
Stock Symbol: CZR
Market: NASDAQ
Website: caesars.com/corporate
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