The gaming company is set to report third-quarter earnings on Oct. 27.
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Penn National Gaming
News & Analysis: Penn National Gaming
The company has already recovered lost revenue and profits from the depths of the pandemic.
The acquisition is estimated to add meaningfully to Penn National's profits in the long term.
Penn National Gaming took a position in a smaller sports betting company. The last time they did this shareholders that held saw very nice gains.
Mobile sports betting is emerging as a fun, new way to place wagers.
DraftKings, fuboTV, and Penn National Gaming Target Mobile Sports Betting Market From Different Angles
Physical casinos, a live-TV streaming service, or a daily fantasy sports business: Which will help capture more market share?
The casino name is juicing its rebound from the pandemic-prompted slowdown by expanding its sports-oriented offering.
PENN earnings call for the period ending June 30, 2021.
Folks are returning to casinos as COVID-related risks are diminishing in the U.S.
A lower price doesn't inherently make a company worth owning, but a company worth owning is certainly a better buy at a lower price.