Ticker: US Supreme Court refuses to take up challenge to Florida’s online sports betting compact; Stock market as hot as the weather
The U.S. Supreme Court on Monday refused to take up a challenge to an agreement that gave the Seminole Tribe exclusive rights to handle online sports betting in Florida, dealing a blow to the deal’s opponents.
The nation’s highest court denied a petition from opponents of the compact, which promises to rake in hundreds of millions of dollars for the tribe and the state.
The decision was the latest setback for West Flagler Associates and the Bonita-Fort Myers Corp., which operate racetracks and poker rooms in Florida. In March, the Florida Supreme Court ruled that the companies had filed the wrong type of petition to challenge the 2021 compact between the Seminole Tribe of Florida and Gov. Ron DeSantis’ administration.
Stock market as hot as the weather
U.S. stocks rose to records Monday as gains for technology companies keep pushing the market higher.
The S&P 500 climbed 0.8% to top its all-time high set on Thursday. The Dow Jones Industrial Average gained 188 points, or 0.5%, while the Nasdaq composite added 1% to its own record.
Autodesk jumped 6.5% for one of the market’s biggest gains after an investment firm said it will try to delay the software company’s annual meeting so it can nominate new directors for the board. Starboard Value also outlined how it says Autodesk hasn’t performed as well financially as it should have. In response, Autodesk said it will review Starboard’s suggestions but added that it has “a clear strategy that is working.”