Play by Play: Supreme Court Frees Up Gambling Laws, #Lomachenko Sets Record and Wins Title, Capitals and Jets Lead Series in #NHL and Cavs Lose First Game of Conference Finals
Stocks discussed: (NYSE: $MSG), (NasdaqGM: $CPHC), (NasdaqGS: $TTWO)
Point Roberts, WA and Delta, BC - May 14, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in investor news and research issues today's edition of Play by Play covering what's new in sports headlines and recent news from publicly traded companies in the sector.
Play by Play - the latest sports headlines and sports stock news
Supreme Court Frees Up Gambling Laws, Lomachenko Sets Record and Wins Title, Capitals and Jets Lead Series in NHL and Cavs Lose First Game of Conference Finals
Stocks discussed: (NYSE:MSG)
The U.S. Supreme Court has struck down betting laws that were responsible for prohibiting sports gambling, according to a report on ESPN. This frees up states to open the market to betting on single game results, which was previously only an option in Nevada.
"States that want to offer legal sports betting may now do so, and New Jersey plans to be first. Delaware, Mississippi, New York, Pennsylvania and West Virginia are among the states expected to quickly get into the legal bookmaking game."
The move is opposed by the likes of the NFL, NCAA, NBA, NHL and MLB while being championed by former New Jersey governor Chris Christie on Twitter:
"A great day for the rights of states and their people to make their own decisions. New Jersey citizens wanted sports gambling and the federal Gov't had no right to tell them no. The Supreme Court agrees with us today. I am proud to have fought for the rights of the people of NJ."
Vasiliy Lomachenko became the lightweight world champion after scoring a tenth-round technical knockout of Jorge Linares in Madison Square Garden (NYSE:MSG) on Saturday. ESPN reports that Lomachenko's win set a new record:
"With the victory, Lomachenko shattered the all-time boxing record for fewest fights needed to win a world title in three weight divisions, accomplishing that in just his 12th fight.
Lomachenko broke the record held by Australian legend Jeff Fenech, a Hall of Famer who won world titles at bantamweight and junior featherweight before winning a belt at featherweight in his 20th fight in 1988."
The Washington Capitals are dominating the Tampa Bay Lightning in the Conference Finals with two straight wins on Friday and Sunday of 4-2 and 6-2 respectively. It will be an uphill battle for the Lightning as the next game is Tuesday in Washington, giving the Capitals a home ice advantage. Meanwhile the Winnipeg Jets lead their series with the Las Vegas Golden Knights 1-0 after a 4-2 win on Saturday.
In basketball, the Boston Celtics beat the Cleveland Cavaliers 108-83 last night taking a lead in the East Conference finals. The Associated Press interviewed LeBron James on the Cavs loss:
"for me, there's no level of concern no matter how bad I played tonight with seven turnovers, how inefficient I was shooting the ball. ... We have another opportunity to be better as a ballclub come Tuesday night and we'll see what happens.""
Canterbury Park Announces Q1 Financials and Take-Two Sees Share Gains
Stocks discussed: (NasdaqGM:CPHC), (NasdaqGS:TTWO)
Canterbury Park Holding Corporation (NasdaqGM:CPHC), owner and operator of Canterbury Park Racetrack in Minnesota, announced its Q1 financial results today. The company saw a net revenue increase of 6.8 percent with $12.2 million over last year's first quarter revenues of $11.4 million. The announcement indicates that the company's net income saw a 92.9 percent increase over 2017, largely as a result of higher revenues and the U.S. tax cuts.
Take-Two Interactive Software (NasdaqGS:TTWO), a leading developer, marketer and publisher of interactive entertainment, including 2K Sports, has seen an share increase of "18.65% in the last month, 7.04% in the previous three months, and 69.25% over the past year," according to a press release today.
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