(NEW YORK)–The recent vote by the Supreme Court to strike down the ban on sports betting sent traders rushing into sports and gaming related stocks as possibly the next hot sector to watch.
The Supreme Court voted 7-2 Monday that the federal ban on sports gambling dating back to 1992 as unconstitutional, and said states should be in charge of deciding whether to legalize sports betting.
This news sent traders scrambling into anything sports or gaming related as this could be the trader story for the 2018 summer season.
Larger institutional money quickly went in to the larger casino and infrastructure brand names like Wynn Resorts (WYNN), Boyed Gaming (BYD), and MGM (MGM). Below are some of the smaller micro cap plays traders have been talking about, and could be ones to watch going into this summer trading season.
Major Volume Spike
Elray Resources (OTCMKTS:ELRA), is parent company to Elray Gaming, which really hit the radars Monday with volume nearly 1.8 billion shares to rise 300% to around $0.0004 per share. The Company has been quiet news wise on its gaming operations in recent quarters, but they are still fully reporting with the SEC, and some information can be obtained from their most recent 10K filing in April 2018.
Based on this news and major change in sports gaming laws in the US we expect we could see some sort of updates coming from the company shortly.
ELRA sister company of sorts is Golden Matrix Group (OTCMKTS:GMGI), which recently announced the launch of its state-of-the-art online gaming technology has been successfully deployed in the months of March and April to customers of gaming operators based primarily in Asia.
Golden Matrix Group, based in Las Vegas, NV, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label social gaming platforms for its international customers, located primarily in the Asia Pacific region. The gaming IP includes tools for marketing, acquisition, retention and monetization of users. The company’s platform can be accessed through both desktop and mobile applications.
Mobile Sports and Betting Apps
AppSwarm (OTCMKTS:SWRM), a developer of games and mobile applications, announced Monday after the vote at Supreme Court that they have been waiting long time for the regulatory landscape to change, and would be announcing news on potential launch of several mobile app related products in the sports betting arena.
SWRM is currently trading around $0.015 per share, with only around 100 million shares issued and outstanding.
Broadband Infrastructure Atlantic City
Hammer Fiber (OTCMKTS:HMMR) is a 4G wireless fiber broadband provider that recently announced launch of new cloud services for businesses. One of their primary areas of operations is in the Atlantic City region, where there could be a massive need for broadband capacity to carry all this new data or real-time sports action, and bets. For this HMMR could be play on upcoming gaming infrastructure needs.
Other smaller cap plays being discussed by traders are Seaniemac International (OTCMKTSE:BETSD), Infrastructure Devs Corp (OTCMKTS:IDVC), and Function(x) (OTCMKTS:FNCX).
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