Mark Cuban: Top sports group only saw their value double on Supreme Court betting decision

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Mark Cuban on sports betting ruling: Owners will see their team's value double


The U.S. Supreme Court preference to concede states to legalize sports betting is good news for investors in a sports and gambling industries, billionaire financier Mark Cuban told CNBC on Monday.

“I consider everybody who owns a tip 4 veteran sports group only fundamentally saw a value of their group double,” a owners of a NBA’s Dallas Mavericks pronounced in a “Squawk Alley” interview. “It can finally turn fun to go to a ball diversion again.”

“It’s easy to see how you’ll have fun during a stadium, during a locus or while you’re examination —whether a online or normal platform,” combined Cuban, a “Shark Tank” host.

On Monday, a justice inspected a legality of a 2014 New Jersey law needing sports betting during casinos and racetracks in a state.

Shares of several casino companies changed aloft after a ruling, including Caesars Entertainment, adult 6 percent and Penn National Gaming, adult 4 percent. Others gaining enclosed MGM Resorts, Boyd Gaming and Churchill Downs. Wynn Resorts batch recaptured some of a waste from progressing in trading, down 1.8 percent on a day.

Cuban, also an financier in esports, pronounced a Supreme Court preference gives states a possibility to locate adult with other countries who have already authorised sports betting.

“It unequivocally comes down to what a states do. How a states hoop a doing and either or not they work together will establish how all this plays out,” Cuban said. “If states are smart, they’ll come together and work on a singular solution.”

He also likely record companies such as Amazon and Facebook, not generally compared with sports, could advantage as well.

“With technology, it’ll be something that’s a new form of entertainment,” Cuban said. He doesn’t design this preference will expostulate chip manufacturers, however.

“This is not like all of a remarkable you’ll have a need for 10 million miners,” he added.

— CNBC’s Michael Sheetz contributed to this report.

Disclosure: CNBC owns a disdainful off-network wire rights to “Shark Tank,” that facilities Mark Cuban as a judge.

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