Supreme Court refuses to hear Florida sports betting case
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 18 June 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Show links:
J.P. Morgan’s top picks within Defensives
Most shorted S&P 500 stocks in May
Biden set to reopen U.S. oil reserves if gasoline prices surge again - FT
Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, June 18th, also known as Seeking Alpha Investing Summit Day, I'm Julie Morgan. |
| 0:16.0 | Scodis decides not to take up Florida's sports betting case. |
| 0:20.0 | Investors react positively to the news that Cheg is reducing its head count and |
| 0:25.3 | McDonald's is pulling out of the automated order taker initiative. |
| 0:29.6 | Sports betting stocks closed higher on Monday after the US Supreme Court refused to hear a challenge to an agreement giving the Seminole tribe in Florida exclusive rights to handle online betting. |
| 0:42.0 | The case stems from a 30-year compact between |
| 0:45.0 | Florida Governor Ron DeSantis and the Seminole Tribe back in 2021 giving |
| 0:50.3 | exclusive rights to handle online sports betting |
| 0:53.5 | through servers placed on Indian reservations in the state. |
| 0:57.2 | The agreement was challenged by West Flagler Associates |
| 1:00.4 | and the |
| 1:05.0 | associates, associates racetracks and poker games in the state. |
| 1:06.0 | The group argued that the compact between Desantis and the Seminole tribe |
| 1:10.0 | provides a backdoor way out of a requirement that a citizen's initiative is needed |
| 1:15.1 | to expand casino gambling outside of tribal land. However, attorneys for the |
| 1:20.3 | state of Florida and legislative leaders maintained that sports betting is different from |
| 1:25.0 | casino gambling and is therefore not prohibited by the state constitutional amendment. |
| 1:30.4 | As a result, shares of draft Kings, Penn Entertainment and Flutter Entertainment were 6 to 7% higher at Monday's close. |
| 1:39.0 | Check shares jumped 20% in extended trading on Monday |
| 1:43.7 | after the learning platform said it is reducing its global head |
| 1:47.1 | count by 23% or about 441 employees |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.