Casino stocks are rallying after the Supreme Court struck down a ban on sports betting MGM, CNTY

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Casino stocks are rising Monday after the US Supreme Court ruled a 1992 federal ban on sports betting is unconstitutional.

The decision clears the way for legal sports betting in New Jersey and beyond, with states now able to choose whether to adopt it.

Watch Caesars Entertainment trade in real-time here.

Casino companies like MGM Resorts, Caesars Entertainment, and Century Casinos gained Monday after the United States Supreme Court called a federal ban on sports betting unconstitutional, ruling in favor of New Jersey.

The decision will allow more states to permit the opening of sports betting businesses. Caesars Entertainment, which owns more than 50 casinos and hotels, climbed more than 5 . Century Casinos gained a little over 1 . See the rest of the story at Business InsiderNOW WATCH: Jeff Bezos reveals what it's like to build an empire and become the richest man in the world and why he's willing to spend 1 billion a year to fund the most important mission of his lifeSee Also:Walmart, Food Lion, and other grocery chains are recalling more than 206 million eggs after a salmonella outbreakScientists spent a month exploring the Gulf of Mexico's deep sea habitats and the images they brought back are astonishingBeing a 'nice guy' becomes a threat to men's earning power as soon as they turn 30SEE ALSO: 'Infinity War' wins the weekend box office for a 3rd consecutive weekend and it's now the 2nd-fastest to half a billion domestically DIS