Craig-Hallum analyst Ryan Sigdahl notes that to the firm’s surprise, online sports betting has returned to Florida. Per Craig-Hallum’s checks, Hard Rock Bet, which is owned and operated by the Seminole Tribe, unexpectedly re-launched OSB in Florida following positive progress on its legal battle over gaming rights in the state. While there is a slim possibility of the app shutting down again, the firm thinks the precedent is clear and that “sports betting is back in Florida.” While traditional sports books will not benefit from its launch, Craig-Hallum thinks data providers Sportsradar (SRAD) and Genius Sports (GENI) will be the biggest beneficiaries. The firm has Buy ratings on both stocks with price targets of $18 and $15, respectively.
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