Paragon Casino Golf Cabins moth with a growing internet casino operation in states where that activity is permitted. black oak casino open or closed 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 . 5 billion over the next several years. 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. 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. Where Is The Bellagio Casino Gscg 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. But that’s also slightly below the Wall Street average of . is san manuel casino online Shares of Penn National Gaming (NASDAQ:PENN) are higher by more than seven percent Thursday. luckyland slots bonus codes

Key Insights and Expert Analysis

The stock raced to a new 52-week high after Goldman Sachs initiated coverage of the gaming company with a “buy” rating. no deposit bonus casino moons mgm casino restaurants Barstool Sports and founder David Portnoy, seen here, are big reasons Goldman Sachs is bullish on Penn National Gaming. (Image: St. 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. Intertops Casino Games Dngx 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. liberty slots no deposit birthday bonus hallmark casino bonus “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. foxwoods resort casino pool free online poker vs computer

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. 3dice casino no deposit bonus 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 Roulette Ssyn At the time, the deal was mostly praised, though some analysts expressed reservations about the price, citing the operator’s high debt burden. aliante casino bowling alley mohegan sun casino square footage scarlet pearl casino biloxi mibibippi phone number The casino company can eventually acquire the sports media property outright for 0 million. black hawk casino town Lake Tahoe Casinos Open Or Closed Hjrs 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.

Penn is also likely to leverage Barstool’s dominant social media presence. The sports and pop culture blog has 38. 5 million Instagram and 18. mohegan sun casino square footage mohegan sun casino in las vegas 2 million Twitter followers, respectively, while rivals DraftKings and FanDuel have just