Borgata Casino Hotel Atlantic City moth with a growing internet casino operation in states where that activity is permitted. Now that more states are expected to permit one or both of those pastimes as avenues for bolstering revenue following COVID-19, analysts are ratcheting up estimates. Some are saying sports betting alone could swell to billion, with online casinos jumping to . eldorado casino buffet reno nevada 5 billion over the next several years. online poker casino usa JPMorgan likes “the attractive growth potential of the US sports betting/iGaming industry, a segment that likely will be broken out/separated from land-based casinos sooner rather than later — a potential catalyst for valuation multiple expansion and an opportunity we believe is worth per share, or ~46% of the current share price,” according to the bank. online casino games that pay cash

Big Bucks BetsOn a conference call with analysts and investors last week, Caesars CEO Tom Reeg said a “permanent solution” for the company’s iGaming and sports wagering businesses could be revealed by the end of this year. Last year, Reeg mentioned the units could be spun off to generate value for investors because the old Caesars equity didn’t adequately reflect the growth opportunity offered by those businesses. He was careful to note the company won’t react in knee-jerk fashion simply because markets are assigning lofty multiples to online gaming firms. The CEO said internet casinos and sports wagering could generate 0 million to 0 million in revenue for the company in 2021, with New Jersey iGaming alorunning aces directionsne contributing 5 million. JPMorgan has a price target on Caesars, implying roughly 25 percent upside from current levels.

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But that’s also slightly below the Wall Street average of . Shares of Penn National Gaming (NASDAQ:PENN) are higher by more than seven percent Thursday. movies at sunset station casino boomtown casino reno lobster buffet The stock raced to a new 52-week high after Goldman Sachs initiated coverage of the gaming company with a “buy” rating. downstream casino veterans day Barstool Sports and founder David Portnoy, seen here, are big reasons Goldman Sachs is bullish on Penn National Gaming. free slots apps (Image: St. golden nugget casino tunica mibibippi How Much Is The Buffet At L Auberge Casino

Louis Magazine)The bank points to multiple layers of a bullish thesis on the operator, including rebounding regional casinos and the company’s positioning in the online gaming and sports wagering industries. PENN sits at the cross-section of a rapidly rebounding regional casino space and inflecting growth in sports betting,” said Goldman in a note to clients today. “Moreover, we believe Barstool Sports’ embedded customer base and content creation engine will drive one of the lowest customer acquisition costs in the sports betting industry, allowing PENN to quickly take share within our proprietary iGaming and Sports Betting models,” he continued. With help from the Goldman call, Penn stock is higher by almost 71 percent over the past month, and is up a jaw-dropping 1,326 percent off its March lows. golden nugget casino in laughlin How Far Is Cache Creek Casino Zuzz Canada Lauding RelationshipIn January, Penn paid 3 million in cash and equity to take a 36 percent stake in David Portnoy’s Barrunning aces directionsstool Sports. casino near me with slots morongo casino 2021 Lucky Tiger Casino Reviews Hxkp

At the time, the deal was mostly praised, though some analysts expressed reservations about the price, citing the operator’s high debt burden. pa online casino free bonus no deposit The casino company can eventually acquire the sports media property outright for 0 million. Wall Street is increasingly enthusiastic about that relationship, because it gives Penn access to millions of new potential customers in younger demographics that are rapidly embracing internet casinos and sports betting. “We believe Barstool Sports’ embedded customer base and content creation engine will drive one of the lowest customer acquisition costs in the sports betting industry, allowing PENN to quickly take share within our proprietary iGaming and Sports Betting models,” said Goldman analyst Stephen Grambling. When Does Kansas Star Casino Opening Back Up Nxgx Penn is also likely to leverage Barstool’s dominant social media presence. red stag casino euro no deposit

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