ASX Small Cap Lunch Wrap: Who’s priming to put on a Super Bowl this morning?

It is all but confirmed that one of the world’s biggest sporting events – the Super Bowl – will be coming to Las Vegas for the first time ever.

In Australian sport, the AFL and NRL grand finals are usually always held in the same city.

But for the Super Bowl it’s a different city every year and there are a number of strict criteria including enough hotel spaces, warm weather for winter (or a stadium with a roof protecting from it), a sufficient airport and practice space for both teams.

And despite Florida being an exception, you’re in with a good shot if you’ve got a brand new stadium.

As the Raiders relocated from Oakland to the world’s gambling capital, a new ground was built for them at a cost touching the US$2 billion mark.

Maybe it was worth it. While the next two NFL championship games will be at Los Angeles (where they too have built a brand new stadium) and Phoenix Arizona, NFL owners are expected to officially sign off on the Vegas 2024 move today.

The 2024 decider (Superbowl 58) was actually meant to be in New Orleans but the expansion of the NFL season by a week created a conflict with the city’s Mardi Gras celebrations, so New Orleans got 2025 instead.

In the 55 years of the Super Bowl there had never been a home team to have played (let alone won) a Super Bowl in their own stadium until Tampa Bay won last year.

While there’s a reasonable chance of either of Los Angeles’ teams or Arizona playing in the decider in their city, there’s probably less of a chance in 2024. (Sorry Raiders fans.)

https://twitter.com/CoryWHB/status/1470576155942023170

On top of the Super Bowl, Las Vegas will host the Pro Bowl (the NFL All Star Game) in February 2022 as well as the 2022 draft at the back end of April.

To other casinos markets, the ASX is trading lower today retreating 0.51% as at 11.45am. All sectors are in the red although consumer discretionaries and tech are having particularly bad days.

But Dogecoin is having a good day after Elon Musk’s latest endorsement – tweeting that Tesla would accept the US$39 billion meme coin as a payment for merchandise.

Of course he did the same thing with Bitcoin in March only to backtrack in May sending BTC back down again. But arguably the risk is lower here because he has been working with developers to improve its efficiency.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for December 15 [intraday]:

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Gold play Maximus Resources (ASX:MXR) told shareholders it had seen visible gold in its drill core at its Redback prospect.

Also climbing with an exploration update was Revolver Resources (ASX:RRR) which only listed in September. This explorer informed shareholders of results of a survey at its Dianne project, saying it had identified significant anomalies which it would target for drill testing.

In other sectors, digital bank BNK (ASX:BBC) announced a $151.6 million deal to sell its Finsure mortgage aggregation business to MA Financial (ASX:MAF).

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for December 15 [intraday]:

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eSports Mogul (ASX:ESH) fell after announcing some board and executive changes including the departure of its CEO Michael Rubinelli.