Why Sinclair Broadcast Stock Jumped Today
Shares of Sinclair Broadcast Group (NASDAQ: SBGI) spiked Thursday after the company recently announced that it had entered into a long-term sports betting and online gambling partnership with Bally's Corporation (NYSE: BALY).
The communication stock jumped by as much as 19.5% during today's trading and was up by 6.1% as of 1:01 p.m. EST.
Sinclair said in a press release yesterday that it's teaming up with Bally's to "... create unrivaled sports gamification content on a national scale, positioning Bally's as the premier omni-channel gaming company with physical casinos and online sports betting and iGaming solutions united under a single brand."
Source Fool.com
