PENN Rides the Gaming Wave Ahead of Barstool Sportsbook Launch, Analyst Raises PT to $62
Penn National Gaming’s better-than-expected reopening at brick and mortar locations in the recent quarter, combined with investor exuberance for the upside from online betting, is sending shares of the casino stock soaring.
DraftKings News Flow: Fresh Capital, Legalization Roadmap, COVID-19 Surge
California is the big prize for online sports betting, but the path to legalization has recently become a little less clear. Plus, investors, driven by the optimism for the return of sports, have piled into DraftKings stock but a resurgence in Coronavirus is making the future of sports more difficult to predict.
DraftKings vs. FanDuel: The Fight for Market Share
Unsurprisingly, sports betting handle and revenue have cratered significantly as the entire sports industry was sidelined by COVID-19, but the quiet stretch will likely prove to be the calm before the storm between DraftKings and FanDuel.
Market is Overlooking Power of Barstool Brand for Penn National: Analyst
Union Gaming raised its price target for Penn National to $40 from $28 in part because it believes the market is underestimating the influence of the Barstool brand and its key personalities, namely founder Dave Portnoy and CEO Erika Nardini.
Why It Might Not Be Too Late to Buy DraftKings Stock
Canaccord Genuity raised its price target for shares of DraftKings to $50 from $35 and reiterated its BUY rating on Wednesday, citing platform engagement and potential for accelerated sports betting legalization.
These Are the Casino Stocks Best Positioned for a Gaming Recovery
Las Vegas Sands and Wynn Resorts are best positioned to lead the gaming industry’s recovery, according to UBS. The firm says LVS’s and WYNN’s higher Macau exposure relative to its peers gives the two casinos a headstart in returning to 2019 revenue levels.
No Sports, No Problem: Investors Roll the Dice on DraftKings
DraftKings said in its earnings report it does not anticipate COVID-19 having a long-term impact on its business. The daily fantasy sports and sports betting company is leaning on new products including table tennis and fantasy Korean baseball as it waits for major sporting events to return.