The 2020 election saw proposals for sports betting pass in the three state ballots it was on. Louisiana, Maryland and South Dakota represent 4% of the U.S. adult population and will allow sports betting as early as 2021.

Here is a look at the companies that could benefit from the three additional states passing sports betting.

Penn National Gaming PENN 8.19%: In an October presentation, Penn National listed upcoming ballot initiatives as a growth plan.

The company has the option to acquire the Hollywood Casino Perryville in Maryland. Penn National also has five casinos in Louisiana.

Penn National saw success with its Barstool Sportsbook in Pennsylvania and is converting its physical sports betting properties to coincide with the Barstool brand name.

MGM Resorts International MGM 1.03%: The MGM National Harbor is one of six casinos open in Maryland. The physical casino could give MGM’s joint venture BetMGM an inside track to launch online sports betting in the state.

Caesars Entertainment CZR 4.47%: The Horseshoe Casino in downtown Baltimore is owned by Caesars. The casino is located in close proximity to the sports stadiums of the Baltimore Ravens and Baltimore Orioles.

Churchill Downs Inc CHDN 1.93%: The Ocean Downs casino in Maryland is owned by Churchill Downs. The Fair Grounds Race Course in Louisiana is another Churchill Downs property.

The company’s Bet America sports betting brand is available in New Jersey, Pennsylvania and Indiana. The legalization in these two states could help the company diversify from its live horse racing revenue…CLICK for complete article