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PENN - Penn National Gaming, Inc.
5.53(5.51%)9:00:00 PM 1/20/2021
Penn National Gaming, Inc. is an American operator of casinos and racetracks, based in Wyomissing, Pennsylvania. It operates 43 facilities in the United States and Canada, many of them under the Hollywood Casino brand. The company also controls a 36% stake in Barstool Sports. Penn formed a corporate spin-off in November 2013 called Gaming and Leisure Properties. In 1967, Pennsylvania enacted a law allowing thoroughbred horse racing with parimutuel wagering. Two companies that would later form part of Penn National Gaming were founded in 1968 by groups seeking one of the four available racing licenses: Pitt Park Raceway, Inc., formed by several Erie area businessmen, and the Pennsylvania National Turf Club, established by a group of Central Pennsylvania investors. The Turf Club was awarded one of the licenses, and soon began construction on Penn National Race Course. The complex included a motor speedway, which held its first races in 1971, and the horse track, which opened in 1972.
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    Penn National Gets Wall-Street-High Price Target at Credit Suisse

    Penn National Gaming surged Wednesday after Credit Suisse initiated coverage of the gambling company with an outperform rating and a Wall-Street-high price target of $128 a share. Analyst Benjamin Chaiken said in an investors note that he based his rating on factors including Penn National's pandemic-related savings, where the company reformatted its business during the coronavirus shutdown, incrementally widening its margins. "We see meaningful opportunities for cost savings from the Pinnacl...

    4 Reasons To Like Penn National: Cost Savings, Sports Betting Margins And More

    Ahead of the rollout of Barstool Sportsbook in Michigan, this casino gaming stock just got a new bullish initiation.The Penn National Analyst: Credit Suisse analyst Benjamin Chaiken initiates Penn National Gaming (NASDAQ: PENN) with an Outperform rating and $128 price target.The Penn National Takeaways: Chaiken highlights four key reasons for the bullish rating: * Upside from pandemic-related savings and recent acquisitions as the topline returns. * Upside to targeted cost savings. * Better t...

    Barstool Sportsbook Inks Deals With Nickmercs, Logan Paul Ahead Of Michigan Launch

    Set to launch in Michigan on Friday, Jan. 22, the Barstool Sportsbook could be getting a big boost with two new faces joining the promotional team.What Happened: Barstool Sports founder Dave Portnoy announced two new partners for the Barstool Sportsbook during an episode of the Dave Portnoy Show with Eddie & Co: "Nickmercs and Logan Paul are now both Barstool guys for the Barstool Sportsbook."Portnoy discussed how signing influencers could be beneficial for Penn National Gaming (NASDAQ: PENN) to...

    Penn National (PENN) to Launch Sports Betting in Michigan

    Penn National (PENN) continues to expand its sports betting presence. The company receives green signal from the Michigan Gaming Control Board for online sports betting in Michigan.

    Return On Capital Employed Overview: Penn National Gaming

    Penn National Gaming (NASDAQ:PENN) posted a 218.62% decrease in earnings from Q2. Sales, however, increased by 269.89% over the previous quarter to $1.13 billion. Despite the increase in sales this quarter, the decrease in earnings may suggest Penn National Gaming is not utilizing their capital as effectively as possible. Penn National Gaming collected $305.50 million in revenue during Q2, but reported earnings showed a $165.40 million loss.Why ROCE Is Significant Return on Capital Employed is a...

    Michigan Enters Online Sports Betting Game, With Barstool And DraftKings Ready To Roll

    Michigan's highly anticipated launch of online sports betting is set to happen on Friday, Jan. 22\. Nine companies have been approved to launch online sports betting offerings, according to Roundhill Investments.Penn National: The Barstool Sportsbook app from Penn National Gaming (NASDAQ: PENN) will launch on Friday, with an iCasino offering from Penn expected to launch shortly after.Penn is partnering with The Barstool Fund, an organization created by Barstool Sports founder Dave Portnoy to hel...

    Penn National Gaming Set to Launch Barstool Sportsbook Mobile App and iCasino Products in Michigan

    Penn National Gaming, Inc. (Nasdaq: PENN) ("Penn National" or the "Company") announced today that the Michigan Gaming Control Board ("MGCB") has approved the Company’s applications to offer online sports wagering and iCasino products in Michigan. Penn National intends to officially launch its Barstool Sportsbook mobile app on iOS and android, as well as desktop at 12:00pm EST on Friday, January 22, 2021 and its iCasino products will follow shortly thereafter, subject to final regulatory approval...

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