BALY - Sleeper picks as New York aims for live sports betting before the Super Bowl

The list of sports betting operators in New York was finalized this week with Bally Bet (NYSE:BALY), BetMGM (NYSE:MGM), DraftKings (NASDAQ:DKNG), FanDuel (OTCPK:PDYPY), Caesars Entertainment (NASDAQ:CZR), Wynn Interactive (NASDAQ:WYNN), Empire Resorts, PointsBet (OTCQX:PBTHF) and Rush Street Interactive (NYSE:RSI) all part of the two winning consortiums, while Penn National Gaming's (NASDAQ:PENN) Barstool Sportsbook and Fanatics Sportsbook (FANA) are on the outside looking in. New York will be the largest regulated sports betting market in the United States when the bets start flying and will provide a boost to the industry despite the exceptionally high tax rate of 51%. While the tax rate is a shocker, analysts note that revenue could be still be strong at scale, although customer acquisition costs will be closely watched. There is some anticipation that sports betting will be live in time for the 2022 Super Bowl in February. There are only six casino stocks with a Seeking

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Sleeper picks as New York aims for live sports betting before the Super Bowl