including DraftKings<\/a> and Score Media & Gaming (NASDAQ:SCR), the latter of which has a US footprint but is highly levered to single-game betting coming to life in its home country of Canada.<\/p>\n\u201cRecent legalization progress increases our confidence that DraftKings\u2019 current FY21 outlook is conservative, particularly given that guidance does not include any contribution from states the company does not currently operate in,\u201d said the Canaccord analysts.<\/p>\n
If Arizona, Maryland, Louisiana, and Wyoming come online before football season, there’s a runway for upward revisions on DraftKings, Graham, and Ripps note.<\/p>\n
Canaccord has an $80 price target on the name, implying upside of more than 60 percent from current levels.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Aided by more states joining the live and legal party, the US sports betting handle more than doubled from the levels seen prior to the coronavirus pandemic, according to Canaccord Genuity. Today, there are 21 states and Washington DC where sports betting is legal. Recent launches in Michigan and Virginia, among others, are driving legalization […]<\/p>\n","protected":false},"author":46,"featured_media":176639,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20,1074],"tags":[],"acf":[],"yoast_head":"\n
Analysts Say US Sports Betting Handle Doubled from Pre-COVID Levels<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n