BCE taps sports betting

Article Excerpt

BCE INC. $72 is your #1 Income Buy for 2022. The company (Toronto symbol BCE; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 908.8 million; Market cap: $65.4 billion; Price-to-sales ratio: 2.7; Dividend yield: 5.1%; TSINetwork Rating: Above Average; www.bce.ca) is Canada’s largest traditional telephone service provider. It also sells wireless services and owns TV and radio stations. Ottawa recently legalized online betting on individual sporting events. In response, BCE-owned cable sports channel TSN has now formed an alliance with FanDuel Group, a subsidiary of Ireland-based gaming firm Flutter Entertainment. Under this deal, FanDuel will provide TSN with a range of sports betting information, including odds and other content. That will make it easier for viewers to bet on games during broadcasts. The move should help draw more viewers to TSN, and increase its advertising revenue. That will also help support BCE’s $3.68-a-share dividend, which yields a high 5.1%. BCE is your #1 Income Buy for 2022. 2022…