The bank began research coverage of MVB Financial with an overweight rating, citing its position as the dominant bank in online sports betting and gaming.
JPMorgan says a little-known microcap financial holding company that began as a West Virginia community bank but is transitioning into a fintech is poised to become "the Silicon Valley Bank" of the online gaming industry. Analyst Steven Alexopoulos initiated research coverage of MVB Financial with an overweight rating, citing its position as the top bank in the online sports betting and gaming industries.
mountain MVB Financial in past year MVB is uniquely positioned among its competitors, according to the note, thanks to Mazza's co-ownership of the website ProFootballTalk. "With CEO Mazza's co-ownership of ProFootballTalk converging with an ambition to bank fintechs, this has resulted in MVB going all-in on this 'blue ocean' opportunity to become the bank of choice for online sports betting and online gaming operators," said Alexopoulos. ProFootballTalk.
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