Are Lake Tahoe Casinos Open Yet heir home games. free slots video 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. 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. seminole casinos in florida 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. His price forecast is less than half the Street consensus of almost . harrah s casino florida There’s also some history here. 5 Dragons Slot Machine Free Games Obzn 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. Penn owns 36 percent of Barstool, a relationship that’s mostly lauded on Wall Street. 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. u.p. casinos 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.

Key Insights and Expert Analysis

Enthusiasm for those segments is a primary reason why investors bid the name higher by almost 1,900 percent from its March lows. harrah s casino discount 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. poker treasury casino 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. how to stop raging bull casino spam emails casino near me houma la Bull CallObviously, Union Gaming’s DeCree has a different view on Penn. 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. online casino australia real money reviews cache creek casino latest news Is Mountaineer Casino Open Izst “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. 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. bellagio casino near me

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. for 0 million in cash, marking the company’s first move into the Prairie State. black hawk casino table games reopening mohegan sun casino rhode island Jumer’s Casino in Rock Island, Ill. Hollywood Casino 300 Bcpz Australia seen here when it closed because of COVID-19. Twin River is buying the venue for 0 million in cash. clearwater casino jackpot winners blackjack casino deadwood sd (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. is harrah s casino 18 and up Is Cliff Castle Casino Open 24 Hours Kwiq Twin River said the deal is scheduled to close in the second quarter of