No matter the verdict, the US Supreme Court judgement on legalising sports betting in the United States was always going to be big news. Following a lengthy deliberation and testimony from all relevant stakeholders, the Supreme Court ruled in favour of legalising the online gambling activity. It has now come to light that the benefactors of the sports betting verdict actually expands beyond the borders of the US, and includes some of Sydney’s wealthiest families.
Sydney’s Billionaires Bet on US Supreme Court Judgement
Some of Australia’s Sydney-based high roller families secretly acquired a stake in one of the world’s leading online gambling operators. This shrewd business activity is expected to bear fruits in the billions after the US Supreme Court ruled that preventing sports betting was unconstitutional. The collective fund is called Caledonia Investments, which is now the biggest shareholder in The Stars Group. The Darling family was the original backer of Caledonia but the opportunity to further strengthen their position was seized by some of Sydney’s most affluent families as well.
Winners of the US Supreme Court Decision
Among the beneficiaries of the US Supreme Court final verdict were American bookmarkers. States such as New Jersey – famous for its high profile casinos – heavily backed the US Supreme Court to repeal the Professional and Amateur Sports Protection Act.
The verdict now stands to benefit US national sports leagues, such as the NBA and NFL, the teams in the respective leagues, and state governments through tax returns. This decision saw large investments in the United States steered towards the gambling industry, with the expectation of turning it into a multi-billion-dollar industry.
The Stars Group has already started seeing profits since the US Supreme Court verdict, with its market value increased by approximately over AU$1.3 billion. It can only get better from here. Stick with Sunvegascasino.com for more Australian gambling news.