wild horse pab casino concertsWith Penn stock cruising toward its best intraday performance in years and on volume that’s already more than five times the daily average, it’s clear investors are enthusiastic about the Barstool deal.Penn National issued a statement this morning saying that it has struck a deal with David Portnoy’s media property.Too Much EnthusiasmOne of the centerpieces of the deal is obvious: Barstool has an estimated 66 million avid readers and users, many of whom are millennials and Generation Z, demographics that traditional gaming companies like Penn are looking to better connect with.fanduel casino near meBut at least one analyst is urging a more reserved approach.Given our somewhat pessimistic view of the current sports betting craze, we find ourselves feeling cautiously optimistic about the strategic merits of PENN’s announced 3M investment in the Barstool Sports brand,” said Stifel analyst Steven Wieczynski in a note provided to Casino.The analyst notes that while there’s “a lot of buzz” surrounding online betting and sports wagering in the US, the market remains highly fragmented, with “challenged unit economics.kansas star casino players club

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where are the seminole casinos in florida0x by CYE20, we believe today’s deal, in some ways, runs counter to the deleveraging message.Sales Job RequiredIn reiterating a “buy” rating and price target on Penn National, one that now implies only modest upside after Wednesday’s surge, Wieczynski says management needs to do an effective job of convincing investors that the Barstool buy is the right moaliante casino cafeve.Given our somewhat pessimistic view of the current sports betting craze, we find ourselves feeling cautiously optimistic about the strategic merits of PENN’s announced 3M investment in the Barstool Sports brand,” said Stifel analyst Steven Wieczynski in a note provided to Casino.borgata casino twitterPenn also becomes Barstool’s official gaming partner for 40 years as part of the agreement, which is expected to close in the current quarter.0x by CYE20, we believe today’s deal, in some ways, runs counter to the deleveraging message.Still, there are parts of the maraliante casino caferiage that give Wieczynski pause.chinook winds casino number

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soaring eagle casino youtube“Second, PENN’s recent message to investors has been all about deleveraging,” said the Stifel analyst.With Penn stock cruising toward its best intraday performance in years and on volume that’s already more than five times the daily average, it’s clear investors are enthusiastic about the Barstool deal.For instance, it’s barely more than half the turnover generated by Las Vegas Sands (NYSE:LVS) for the 12 months ending Sept.In three years, the gaming company can boost that stake to 50 percent for another million, which would set the stage for the operator to eventually become the outright owner of the sports and pop culture site.With Penn stock cruising toward its best intraday performance in years and on volume that’s already more than five times the daily average, it’s clear investors are enthusiastic about the Barstool deal.Under the terms of the deal, Penn is paying 5 million in cash and million in equity for the 36 percent interest in Barstool.mgm casino logo