Investors show faith in top operators as hopes of online gambling sores in New Jersey

With New Jersey another step closer towards legalizing internet gambling in the state, investors came out on a spending spree. They have started betting on the fact that operators like Caesars Entertainment and Boyd Gaming are going to cash in on a market, which hasn’t been touched till yet.

Caesars’ performance in the US stock market surged considerably, as its shares saw an increase of 32 percent and ended at USD 13.25.

Boyd also did a considerable business in the stock market, as its stocks saw an uplift by another 8.4 percent and ended the day at USD 7.7.

All the good performances by the operators in the stock market came following the day when Chris Christie, Governor of the NJ State, for the first time, came out supporting internet gambling. He said that he is ready to favor the gambling bill (and internet gambling in the process), if it gets a slight revision.

Friday’s rise in stock for Caesars and Boyd helped them in cutting their 12-month loss to 14 and 17 percent respectively.

With an estimated revenue of anywhere between USD 250 million and USD 1 billion on the cards, several analysts from different corners of the world believe that Caesars and Boyd are going to benefit a lot from it.

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