MARKET

PENN

PENN

Penn Natl Gaming
NASDAQ

Real-time Quotes | Nasdaq Last Sale

62.80
-0.90
-1.41%
Closed 19:53 10/23 EDT
OPEN
63.85
PREV CLOSE
63.70
HIGH
64.47
LOW
61.37
VOLUME
3.56M
TURNOVER
--
52 WEEK HIGH
76.62
52 WEEK LOW
3.750
MARKET CAP
9.61B
P/E (TTM)
-8.5166
1D
5D
1M
3M
1Y
5Y
News
Financial
Releases
Corp Actions
Analysis
Profile
Sports Betting Launching Soon In 3 States, On The November Ballot In 3 More
Further sports betting legalization and launches in additional states represents a major catalyst for a sector that has posted solid returns in 2020.The Next States To Launch: BofA Securities analyst Shaun Kelley shared takeaways in a note from a conversation with Chris Grove and Becca Giden of Eilers & Krejcik Gaming.Michigan, Tennessee and Virginia are the next states expected to launch, with go-live dates expected for November, December and February, respectively, the analyst said. "Michigan's upcoming launch for online sports betting and iGaming is one of the most anticipated to date," he said. Combined, the three states represent 8% of the adult population in the United States.The launches come after states like New Jersey and Pennsylvania posted record months for sports betting.3 States On Ballot: Louisiana, Maryland and South Dakota represent a combined 4% of the adult population in the U.S. All three states have sports betting referendums on the November ballot.Louisiana passed daily fantasy sports regulations in 2018 with 73% of counties approving, Kelley said, adding that it could be a positive read-through for state approval of sports betting.Maryland voters appear to be split on approving sports betting, the analyst said. States that vote on approval wouldn't likely be operational before the fourth quarter of 2021, according to BofA. Related Link: Talking Sports Betting And Dave Portnoy With BETZ ETF FoundersMore States Approach Legalization: BofA also highlighted positive traction in Ohio and Massachusetts, which together represent 6% of the adult population in the U.S.Both states could pass legislation before the end of the year that legalizes sports betting, Kelley said. Progress is also being made in Texas and New York, two states that make up a combined 15% of the adult population.Big names like Mark Cuban and Jerry Jones are said to be pushing for legalization of sports betting in Texas, the analyst said. Sheldon Adelson, the CEO of Las Vegas Sands Corp (NYSE: LVS), is also said to be involved in Texas negotiations. he said.This is notable, as Adelson has been a vocal opponent of online sports betting outside of Las Vegas, Kelley said. BofA On Crossing The 50% Mark: In 2018, only 10% of the adult population had access to sports betting, Kelley said.By 2019-2020, an additional 23% of the population gained exposure, bringing the cumulative total to 33%, the analyst said. The 2021-2022 period is expected to bring 24% of the adult population access to sports betting, which could help take the cumulative total to 57%.By 2022, over 50% of the U.S. population is expected to have the ability to bet on sports, according to BofA. Stocks, ETF To Watch: Barstool Sportsbook, which is partially owned by Penn National Gaming (NASDAQ: PENN), is expected to launch in additional states like Michigan following its Pennsylvania debut. BetMGM, a joint venture from MGM Resorts International (NYSE: MGM), DraftKings Inc (NASDAQ: DKNG) and FanDuel, is expected to be an early player in Michigan.Gan Limited (NASDAQ: GAN) and Wynn Resorts (NASDAQ: WYNN) also announced plans to launch online sports betting and iGaming in Michigan.The Roundhill Sports Betting and iGaming ETF (NYSE: BETZ) is a pure play way to invest in the growth of sports betting with ownership of U.S. and international names.Latest Ratings for PENN DateFirmActionFromTo Oct 2020Morgan StanleyMaintainsEqual-Weight Sep 2020RosenblattMaintainsBuy Sep 2020MacquarieDowngradesOutperformNeutral View More Analyst Ratings for PENN View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * SiriusXM Likely Keeping Howard Stern, Could Lose Portnoy, Barstool Sports(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga · 3d ago
Penn National Gaming (PENN) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
Penn National Gaming (PENN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Zacks · 3d ago
Penn National Gaming Announces Plans to Help Save Historic Reading Terminal Market in Philadelphia
Penn National Gaming, Inc. (PENN: Nasdaq) ("Penn National" or the "Company") announced today its plans to help sustain operations and support the recovery of the Reading Terminal Market ("The Market") in downtown Philadelphia due to the ongoing challenges of the COVID-19 pandemic.
Business Wire · 3d ago
Cramer's lightning round: I think you buy Boeing
"Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.
CNBC.com · 4d ago
Voters could expand sports betting to new markets on November 3
Sports betting could expand to new states if voters approve ballot initiatives.Voters in Maryland will be asked if they favor the expansion of commercial gaming in the State of Maryland to
Seekingalpha · 4d ago
SPAC ETF issuer discusses how his product is capitalizing on the exploding trend
Defiance ETFs President Paul Dellaquila breaks down his firm's new SPAC ETF as the growing theme captures more investors' attention.
CNBC.com · 5d ago
Penn leads U.S. casino sector lower
The U.S. casino sector trades lower on raised concerns that a full recovery in foot traffic will take longer than anticipated. Highlighting that sentiment, South Point Hotel, Casino & Spa.
Seekingalpha · 6d ago
Wall Street debates whether the sports betting market will be big enough to support the stocks
Wall Street analysts and investors have widely differing estimates of what the total addressable market for sports gambling can become.
CNBC.com · 6d ago
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Forecast
EPSBVPSCFPS
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YoY (%)
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Learn about the latest financial forecast of PENN. Analyze the recent business situations of Penn Natl Gaming through EPS, BVPS, FPS, and other data. This information may help you make smarter investment decisions.
Analyst Rating

Based on 15 analysts

Buy

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

Analyst Price Target
The average PENN stock price target is 74.71 with a high estimate of 100.00 and a low estimate of 31.00.
EPS
Institutional Holdings
Institutions: 489
Institutional Holdings: 129.42M
% Owned: 84.56%
Shares Outstanding: 153.06M
TypeInstitutionsShares
Increased
113
25.02M
New
154
8.25M
Decreased
83
8.13M
Sold Out
0
0
  • Performance
  • Asset Allocation
  • Dividend History
No Data
Industry
Casinos & Gaming
+1.03%
Hotels & Entertainment Services
+1.20%
Key Executives
Chairman/Independent Director
David Handler
President/Chief Executive Officer/Director
Jay Snowden
Chief Financial Officer/Executive Vice President
David Williams
Executive Vice President/General Counsel/Secretary
Carl Sottosanti
Executive Vice President
Todd George
Senior Vice President/Chief Accounting Officer
Christine LaBombard
Senior Vice President
Jon Kaplowitz
Senior Vice President
Chris Rogers
Lead Director/Independent Director
Barbara Shattuck Kohn
Director
Saul Reibstein
Independent Director
John Jacquemin
Independent Director
Ronald Naples
Independent Director
Jane Scaccetti
  • Dividends
  • Splits
  • Insider Activity
No Data
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About PENN
Penn National Gaming, Inc. (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Greektown Casino-Hotel in Detroit, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo. The South/West segment consists of various properties, such as Zia Park Casino, Hollywood Casino Tunica, Hollywood Casino Gulf Coast, Boomtown Biloxi, M Resort and Tropicana Las Vegas. The Midwest segment consists of various properties, Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Argosy Casino Riverside and Hollywood Casino Lawrenceburg. The Other category consists of the Company's standalone racing operations, including Rosecroft Raceway and Sanford-Orlando Kennel Club.
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