Which stocks are gambling executives buying?

Gambling executives are not holding back on buying stocks following the recent U.S Supreme Court ruling that lifted the federal ban (Professional Amateur Sports Protection Act) on sports betting in the country. Timothy J. Wilmott, the Penn National Gaming Chief Executive bought shares worth $3.1 million of the company, betting it will continue winning. His was the largest purchase by an insider in over 15 years. This was followed by the Penn National announcing that it would be launching sports betting at the company‚Äôs Hollywood Casino based at Charles Town Races in Charles Town, West Virginia, and 5 Mississippi casinos. (more…)

New gambling and integrity panel is launched in Australia

Australians will have the possibility to enjoy a new panel called the gambling and integrity panel. The Esports Games Association Australia is the one who has the initiative to create it, and now it is close to its launching date. The esports market is similar to the classic sports one, gambling providers are the ones who influence both of them. Stakeholders considered this concerning and after multiple notifications, the EGAA decided to take measures to assure people that integrity is a priority, even in esports. Considering that the Internet is full of threats, there is no surprise that there were identified factors that may have a negative impact on integrity. In order to prevent harm from being done, the majority of tournaments and leagues have shared their enactment with the actions they will take to fight risks. The purpose of this initiative is to organize competitions that are based on integrity. (more…)