Black Hawk Casino Shuttle 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. DeCree’s Wall Street-high forecast emerges just a day after a counterpart lifted his Penn projection to . free casino slots 777 ruby slots no deposit promo code Santarelli didn’t hold back in a scathing commentary on Penn stock. viejas casino the cafe 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 . There’s also some history here. doubledown casino play now In June, the analyst issued a “sell” rating on Penn, drawing a stinging online rebuke from Barstool Sports founder David Portnoy. south lake tahoe casinos closed Lake Tahoe Casinos North Shore Urmy In a viral, expletive-laden rant, Portnoy basfree online poker bonus no deposithed Santarelli and, on multiple occasions intentionally mispronounced the analyst’s surname. winstar world casino email addreb 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. Rather, he sees limited opportunities on those fronts. jamul casino 5th anniversary 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. “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. the golden nugget casino hotel 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. 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. free slot game sun and moon island view casino shuttle In fact, his outlook runs in the opposite direction of Santarelli’s. Live Casino Corporate Office Yzra “We contend PENfree online poker bonus no depositN 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. free online poker training silver oak casino free bonus codes gta v casino roulette cheat engine Poker Casino Holdem Rules Ujtq 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. slots villa casino

But he says that gap should tighten as Penn “continues to ramp up and execute. Turtle Lake Casino Coupons Hgdy ” 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. Jumer’s Casino in Rock Island, Ill. seen here when it closed because of COVID-19. pechanga casino directions Twin River is buying the venue for 0 million in cash. (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. brian christopher slots wiki Twin River said the deal is scheduled to close in the second