miami club casino topPenn National issued a statement this morning saying that it has struck a deal with David Portnoy’s media property.One of the most widely cited and rosy projections comes from Morgan Stanley, which says the US sports gambling market could be worth billion by 2025, assuming 36 states legalize it by then.Shares of Penn National Gaming (NASDAQ:PENN) rallied to a 52-week high Wednesday.caesar casino on facebookRather, 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.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.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.draftkings casino st louis

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choctaw casino mcalesterPenn also becomes Barstool’s official gaming partner for 40 years as part of the agreement, which is expected to close in the current quarter.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.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.blackjack casino guruPenn also becomes Barstool’s official gaming partner for 40 years as part of the agreement, which is expected to close in the current quarter.evolves around day trips, not more lucrative overnight stays.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.doubledown casino slot

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free slots 7777 games“Although management reiterated its desire to get lease-adjusted net leverage to 5.“Second, PENN’s recent message to investors has been all about deleveraging,” said the Stifel analyst.Operator Interest Is ThereConvincing residents that a casino-resort is a good idea is one thing.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.Eldorado Resorts’ Isle oorg.online casino no deposit bonus real money