MGM Resorts International (NYSE: MGM) started building a sports betting empire soon after the U.S. Supreme Court struck down the federal ban on states authorizing sports gambling in 2018. The resort operator cobbled together agreements with most major sports leagues to be their official betting platform; teamed up with Boyd Gaming (NYSE: BYD) to offer online and mobile gaming platforms, including sports betting, casino gaming, and poker; and bought the Empire City casino in New York in anticipation of the state authorizing sports betting. Since then it has set its sights on becoming the second-biggest sportsbook in the country, surpassing current No. 2 DraftKings (NASDAQ: DKNG).
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