FUBO - Sports betting and iGaming stocks are on a rush as M&A dealmaking sweeps over the sector

The acquisition by DraftKings (NASDAQ:DKNG) of Golden Nugget Gaming Online (NASDAQ:GNOG) has reset expectations across the casino/sports betting/iGaming landscape. Oppenheimer believes the consolidation trend is just getting started in the growing sector. The firm see fuboTV (NYSE:FUBO) and Rush Street Interactive (NYSE:RSI) as two likely M&A targets. Both stocks are following up on rallies yesterday with premarket moves higher today (FUBO +1.7%, RSI +4.0%). Meanwhile, Jefferies initiates coverage on online gaming platform GAN Limited (NASDAQ:GAN) with a Buy rating. "Our thesis on GAN is based on the quality of its core PAM capabilities within the digital gaming value chain and on its expanding breadth of economic opportunities brought by the addition of Coolbet. The clearly defined reservoir of growth in B2B and now B2C are highlighted by our proprietary analyses. In addition to the growth progression, we believe there remains valuation upside for GAN based on our framework," writes analyst David

For further details see:

Sports betting and iGaming stocks are on a rush as M&A, dealmaking sweeps over the sector