New York Toronto-based Score Media and Gaming Inc. (SCR-T), Draftkings Inc. (DKNG-Q) and Gan Ltd. (GAN-Q), an online gambling software provider, were among the stocks rising after New York Governor Andrew Cuomo said he wants to follow neighboring New Jersey in legalizing mobile sports betting and recreational marijuana to help his state regain its financial footing.
After years of resisting the legalization of online sports betting, the governor will push for the lucrative measure in his State of the State address next week
“New York has the potential to be the largest sports wagering market in the United States and by legalizing online sports betting we aim to keep millions of dollars of tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis,” Mr. Cuomo said in a statement.