dMY Technology Group, Inc. II (DMYD) a 'Clear Winner' from New York Online Sports Betting - Craig-Hallum
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Craig-Hallum analyst Ryan Sigdahl reiterated a Buy rating and $30.00 price target on dMY Technology Group, Inc. II (NYSE: DMYD) (SPAC merging with Genius Sports Limited), saying it is a "clear winner" from New York online sports betting.
The analyst commented, "While it is a positive that NY included online sports betting in its 2022 budget, the limited-operator model has been unanimously opposed by most state lawmakers and the gaming industry at large. It is unclear which B2C operator(s) will get licenses and the high tax rate(likely 50%+)is a notable negative, but the one thing we do know is that whoever it is will need real-time official sports data as a critical input into its betting algorithms. The legislation includes “a preference for the use of official league data”, something that Genius has for over 240,000 games and 400+ leagues (including exclusivity for NFL, NCAA, English Premier League, etc.)."
Shares of dMY Technology Group, Inc. II closed at $22.15 yesterday.
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