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Legalized sports betting push keeps churning

  • Former NBA Commissioner David Stern will make a key speech at the Global Gaming Expo next month in which he will present the case for legalizing sports betting, according to ESPN.
  • Stern's turnaround on sports betting lines him up with the views of current NBA commissioner Adam Silver who supports a federal framework of betting regulations. The NBA has a small stake in FanDuel (DUEL) in what could be considered a bit of a hedge.
  • Sports betting is slated to be a major focus of the Global Gaming Expo scheduled for September 26-September 29 at the Sands Expo. The Nevada Gaming Commission is also considering allowing remote wagering from all 50 states in what could be a major disruption to the industry if passed.
  • Earlier this week, a federal court blocked New Jersey from offering legalized sports betting as it upheld the Professional and Amateur Sports Protection Act.
  • POTUS watch: Both Donald Trump and Hillary Clinton have offered some support for legalized sports betting in prior comments, but don't have well-defined positions on the issue.
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