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“While admittedly these first steps will be small and slow, we hope to be with you every step along the way,” Crisafulli stated. On a mostly lethargic day for gaming equities, shares of Penn National Gaming (NASDAQ:PENN) are standing out, thanks to a sell-side analyst boosting his price target on the stock in dramatic fashion, citing catalysts including Barstool Sports and online casinos. David Portnoy’s Barstool Sports is going to be a positive driver for Penn National stock, says one analyst. who owns hard rock casino in lake tahoe (Image: Variety)In a note to clients released earlier today, Nomura Instinet analyst Harry Curtis reiterated a “buy” rating on Penn National, while boosting his price target on the Ameristar operator to . That’s around the stock’s 52-week high, a level that hasn’t been touched since late February. chinook winds casino live cam

Key Insights and Expert Analysis

Our target price for PENN assumes a target multiple of 9. hallmark casino legit Mgm Casino Michigan Xpun 6x our 2022 earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) estimate, a slight premium to the stock’s historical average forward multiple given growth optionality from i-casino/sports betting through Barstool,” said Curtis. That’s at least the third price forfoxwoods resort casino facebookecast hike by an analyst covering Penn over the past 10 days. On May 20, JPMorgan lifted its target on the Hollywood operator to from . tropicana casino in laughlin nevada e games slot machine free games Earlier this week, Morgan Stanley increased its projection on Penn to from . Four Winds Casino Open Xaco

Impressive ResurgenceThis month, Penn stock nearly doubled, and its more than eight-fold surge off its March lows is one of the most impressive rebounds among all domestic gaming equities. Much of Wall Street’s and investors’ enthusiasm for the name is attributable to the integration of Barstool Sports, in which the operator acquired a 36 percent stake in January, and the company’s positioning in the booming iGaming market. bellagio casino blackjack Penn executives previously said iGaming is going to be a “material” driver of earnings and revenue in 2021 and beyond. b casino no deposit bonus Analysts and investors like the asset-light, high margin model that accompanies online casinos, and are valuing companies with exposure to this niche on par with technology firms, not traditional gaming entities. Curtis, the Instinet analyst, added that his revised estimates on Penn allot for what he calls a “normal” recession and upside to be derived from Barstool. poker casino app

His price target far exceeds the sell-side average of . thunder valley casino kidnapping 31. Regional RecoveryAnalysts are bullish on regional operators, including Penn, based on the premise that smaller gaming markets will bounce back from the coronavirus pandemic more rapidly than Las Vegas. bovada casino mobile app There’s something to that, as some of the recent fuel for Penfoxwoods resort casino facebookn stock comes by way of the company reopening venues in some of its most important regional markets, such as Louisiana and Mississippi. In Las Vegas, the company operates the Tropicana and M Resort, the latter slated to participate in the June 4 reopening of Nevada gaming properties.

“While the amenities our customers have come to know and love may be somewhat limited for the time being, the ability to safely welcome back our team members and guests remains our top priority,” M Resort general manager Hussain Mahrous said in a statement. The Tropicana isn’t yet featured on lists pertaining to the June 4 Silver State restart date. 8 dragons free slots Encore Boston Harbor says it will stop paying its approximately 850 part-time workers after Sunday, May 31, and is furloughing more than 10 percent of its overall staff. L Auberge Casino Lake Charles Pool Rxtw After months of paying its staff, the closed Encore Boston Harbor is furloughing workers and stopping checks