Morgan Stanley predicts that $216 billion could be wagered
November 06, 2018 7:47 AM
by Dave Dye
Morgan Stanley, one of the top firms on Wall Street, is predicting that $216 billion could be wagered annually on sports legally in the United States within seven years.
That information came from a recent report that was reviewed by the New York Post.
The revenue generated for casino operators could reach $11 billion annually, an amount similar to last year’s North American movie box office sales, according to the Post.
Morgan Stanley is advising MGM Resorts on whether to make a bid on a possible merge with Caesars Entertainment. With 49 casinos covering 13 states, Caesars could have nine percent of the market share for sports betting based on the Morgan Stanley report.