US gambling stocks drop after MLB Covid-19 outbreak

Business News

Due to a COVID-19 outbreak among MLB players and staff. Concerns and rumors surrounding the remainder of the season has several stocks trading lower this week.

In a statement, MLB said members of the Miami Marlins traveling party are self-quarantining while the league conducts additional COVID-19 tests. The league will also hold an “emergency” meeting to discuss any further steps related to the teams and the shortened MLB season.

The news sent shares of fantasy sports leader DraftKings Inc down 7.3%. In addition to DraftKings, other MLB-linked stocks traded lower on Tuesday as well. U.S. regional casino and sportsbook operator Penn National Gaming, the parent company of sports media company Barstool Sports, traded lower by 6.4%. Shares of Atlanta Braves owner Liberty Braves Group were down 2.8%.