Michigan is a “No. 1 seed for online growth” in sports betting and iGaming, BofA Securities analyst Shaun Kelley said Monday.
After a strong 10-day launch in January, online sports betting and iGaming in Michigan showed no signs of slowing down, the analyst said in an update on winners and losers from the first full month of operations in the Great Lakes State.
Bank of America released a report calling Michigan an “Exciting” state for its growing online sports gambling market and iGaming.
Investors have been bidding up online gambling stocks and companies such as Penn National Gaming (PENN), MGM Resorts International (MGM), DraftKings Inc (DKNG) have become investor favorites for investors seeking exposure in the expanding United States internet gambling market for online sports betting and online casinos licensed in the USA.