Vegas Baby, Vegas (LVS)
Shares of Las Vegas (NYSE: LVS) are up sharply today, on news that gambling apps are coming to smart phones.
The app will only work in Nevada, the only state where sports betting is legal. This will make it easier for gamblers to place wages on their favorite (or not favorite) sports teams.
American Wagering Inc. (OTCBB: BETM) is launching the app for Research in Motion's (NASDAQ: RIMM) popular BlackBerry devices in time for the start of college football and the NFL regular season.
"I'm all-in on this," said Vic Salerno, American Wagering's chief executive. "We've reinvented the company entirely."
Casino operators would likely get their own apps sometime in the future American Wagering said.
As a result shares of Wynn (NASDAQ: WYNN), LVS and MGM (NYSE: MGM) were higher on the day, to go along with a sharply higher market.
Shares of Las Vegas Sands are gaining 75 cents, or a gain of 2.5% to trade at $29.08.
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