Shares of Wynn Resorts (NASDAQ:WYNN), MGM International (NYSE:MGM) and Boyd Gaming (NYSE:BYD) jumped on Tuesday, while Las Vegas Sands (NYSE:LVS) also closed higher, as an opinion from the Department of Justice may result in states running more online gambling.
The opinion centers around the Wire Act of 1960, which the DOJ seems to have reversed direction on, which would open up the door for the sale of lottery tickets within states, as the Department of Justice said that wouldn't violate the Wire Act.
Along with the strongly branded casino operators, others that will likely benefit from the opinion would be game content or online gaming tech providers Konami (NYSE:KNM), IGT (NYSE:IGT), Bally Technologies (NYSE:BYI) and WMS Industries (NYSE:WMS).
Boyd Gaming closed Tuesday at $7.63, climbing $0.68, or 9.78 percent. MGM Resorts closed at $10.42, up $0.46, or 4.62 percent. Wynn Resorts closed at $113.53, jumping $3.53, or 3.21 percent. Las Vegas Sands ended the session at $43.99, increasing $0.45, or 1.03 percent.
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