Riverwind Casino Spa heir home games. These days, the broad consensus in the analyst community on Penn National Gaming (NASDAQ:PENN) stock is that the name is a “buy. ” It’s rare that opinions on the casino firm deviate wildly on the same day. Traders have a lot to ponder with Penn National, as one analyst rips the name while another says it’s going to 0. (Image: Associated Press)However, that’s happening today, as Deutsche Bank’s Carlo Santarelli reiterates a “sell” rating on the gaming company, though he did raise his price target on the stock to from . That’s a far cry from the bullishness extolled by Union Gaming’s John DeCree, who placed a 0 estimate on the name. Ruby Slots Promo Codes Lith Switzerland

DeCree’s Wall Street-high forecast emerges just a day after a counterpart lifted his Penn projection to . Santarelli didn’t hold back in a scathing commentary on Penn stock. We think PENN has largely benefited from the retail community turning the ticker into an internet meme of sorts, thereby creating momentum in the stock that has attracted institutional investors from verticals outside of the traditional gaming arena,” said the Deutsche Bank analyst. Santarelli’s call is undoubtedly bold. casino near me age nearest casino to virginia beach His price forecast is less than half the Street consensus of almost . There’s also some history here.

Key Insights and Expert Analysis

In June, the analyst issued a “sell” rating on Penn, drawing a stinging online rebuke from Barstool Sports founder David Portnoy. In a viral, expletive-laden rant, Portnoy basresorts casino atlantic city addrebhed Santarelli and, on multiple occasions intentionally mispronounced the analyst’s surname. online casino three card poker Penn owns 36 percent of Barstool, a relationship that’s mostly lauded on Wall Street. free online slots in canada Fundamentals LackingWhile Santarelli’s bear rating on Penn could be construed as a case of bad blood, the reality is the analyst isn’t fawning over the prospects of the US iGaming and sports wagering markets. Rather, he sees limited opportunities on those fronts. As investors realize online casinos and sports betting will have difficulty living up to lofty expectations, Penn stock could be vulnerable to “a considerable contraction,” said the analyst.

Enthusiasm for those segments is a primary reason why investors bid the name higher by almost 1,900 percent from its March lows. coolcat casino redeem code “Couple this with a big picture ‘TAM’ story that ‘can’t be disproved’, sprinkle in some slides about Twitter followers and Instagram impressions, and you create a narrative that largely abandons fundamental rationale,” said Santarelli. downstream casino age limit The analyst adds investors are likely to be left disappointed upon discovering the amount of sports betting market share that’s readily obtainable for operators. caesars casino reno Bull CallObviously, Union Gaming’s DeCree has a different view on Penn. Turtle Lake Casino Shut Down Szom His 0 price target is nearly 50 percent above consensus and implies upside of almost 33 percent from where the stock currently trades. In fact, his outlook runs in the opposite direction of Santarelli’s.

“We contend PENresorts casino atlantic city addrebN is one of the best plays for both the COVID reopening trade and long-term total addressable market (TAM) in US iCasino and sports betting,” said DeCree. black lotus casino free spins existing players The Union Gaming analyst values Penn at a lower multiple than DraftKings (NASDAQ:DKNG). owing to the latter’s head start in online sports betting. la borgata atlantic city Black Lotus Casino Free Bonus Codes Vgxr But he says that gap should tighten as Penn “continues to ramp up and execute. ” Twin River Worldwide Holdings (NYSE:TRWH) is purchasing Jumer’s Casino & Hotel in Rock Island, Ill. hard rock casino lake tahoe spa no deposit bonus casino mentor atlantis las vegas casino budapest blazing 7 free slots poker casino royale bond Mountaineer Casino Wedding Qaof for 0 million in cash, marking the company’s first move into the Prairie State.

Jumer’s Casino in Rock Island, Ill. hollywood casino minimum bet seen here when it closed because of COVID-19. Twin River is buying the venue for 0 million in cash. las.atlantis casino (Image: Quad-City Times)Jumer’s has a 40,000 square foot casino with 870 slot machines, 25 table games, and a 205-room hotel. Twin River said the deal is scheduled to close in the second quarter of