Japan Off to the Races as Pandemic Stokes Online Betting
- Tokyotokeiba has ‘strong near-term earnings:’ Jefferies
- Horse-racing firm is its top Japan consumer services pick
Photographer: Kazuhiro Nogi/AFP via Getty Images
Japanese gamblers, wary of the coronavirus pandemic, are fueling a boom in online betting for horse races.
The surge in such wagers prompted Shinnosuke Takeuchi, an analyst at Jefferies Japan Ltd., to identify race-track operator Tokyotokeiba Co. as the only company covered in the consumer services sector with “strong near-term earnings.”