motel 6 near mohegan sun casinoPenn National stock is soaring on the deal to buy part of David Portnoy’s Barstool Sports, but one analyst isn’t crazy about the transaction.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 moblack hawk casino cove.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.slot kingdom casinoPutting billion into context, it’s not much revenue to be spread across an entire industry.Penn 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.doubledown casino not working

gold coast casino fitneb center

chinook winds casino resort lincoln city oregonThe 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.“At the end of the day, we are not suggesting investors should simply close the book on the Barstool transaction.The surge of more than 12 percent came after the regional gaming company confirmed that it’s paying 3 million in cash and stock to purchase a 36 percent chunk of Barstool Sports.hard rock hotel casino t shirtGiven 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.” Said another way, sports betting can be a revenue driver for gaming companies, but not necessarily a significant contributor of increased profits.At least seven operators are expected to pursue a Japanese gaming license, with plans to build a venue in that city.firekeepers casino application

big fish casino slots

latest ruby slots bonus codesWith 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.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.Rather, we believe the company will have to do a good job of selling investors on the deal’s financial merits and provide a well-defined presentation to the incremental earnings before interest, taxes, depreciation and amortization (EBITDA) opportunity, prior to investors getting on board with this significant capital outlay,” said the analyst.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.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 moblack hawk casino cove.n gage casino no deposit bonus