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Boosted By Barstool, Penn National's Stock Passes MGM, $100 Share Price: So What's Next?
Wednesday, January 13, 2021 - 8:05am | 953Read More...Sports betting continued to be a big story in 2020 even as the sporting world faced major disruptions with scheduling due to the COVID-19 pandemic. What Happened: Thanks in part to its 30% ownership stake in Barstool Sports, shares of Penn National Gaming (NASDAQ: PENN) were up over 230% in 2020....
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New York Represents A Huge Opportunity For Sports Betting: Here's What Could Be Next
Tuesday, January 12, 2021 - 2:45pm | 357Read More...The recent state of the state presentation by New York Governor Andrew Cuomo called for New York to push forward with online sports betting. Cuomo called for New York to operate with a state-sponsored online and mobile sports betting offering to help fill a $15 billion state budget gap. Why It'...
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Casino Earnings: Why BofA Is Bullish On Penn National, Bearish On MGM
Monday, November 2, 2020 - 3:40pm | 529Read More...Casino stocks Penn National Gaming (NASDAQ: PENN) and MGM Resorts International (NYSE: MGM) reported quarterly earnings Thursday. Here's what a BofA Securities analyst has to say about the results. BofA On Penn National Gaming's Q3: Penn had a solid margin beat, with...
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Sports Betting Launching Soon In 3 States, On The November Ballot In 3 More
Thursday, October 22, 2020 - 4:09pm | 781Read 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...
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Barstool Sportsbook Downloads Outpace DraftKings, FanDuel At Launch
Monday, September 21, 2020 - 11:08am | 488Read More...BofA Securities is out with an early, positive reaction to the Barstool Sportsbook app after its opening weekend in Pennsylvania. The Penn National Analyst: Shaun Kelley reiterated a Buy rating on Penn National Gaming (NASDAQ: PENN) and raised the price target from $59.75 to $85....
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ESPN Deal Extends DraftKings 'Already Large Marketing Reach'
Tuesday, September 15, 2020 - 11:26am | 538Read More...Walt Disney Co's (NYSE: DIS) ESPN announced two separate deals with DraftKings Inc (NASDAQ: DKNG) and Caesars Entertainment (NASDAQ: CZR) on Monday. The deals include link outs for both brands sportsbooks. DraftKings gets exclusive rights for daily fantasy sports partnership with...
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Bank Of America Initiates Coverage On Red Rock Resorts With A Buy Rating
Monday, May 23, 2016 - 10:24am | 219Read More...Shaun C. Kelley of Bank of America has initiated coverage on Red Rock Resorts Inc (NASDAQ: RRR) at Buy, and set a price target of $24. Red Rock is a leading casino operator, with 19 casino properties under its belt. It is also the manager of two Native American casinos. The company is a "near pure...
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What's Coming For MGM Resorts?
Saturday, May 2, 2015 - 1:27pm | 403Read More...MGM Resorts International (NYSE: MGM) will report Q1 results on Monday, May 4. Ahead of its earnings release, the Estimize consensus was for EPS of $0.14 on revenue of $2.471 billion. The Wall Street consensus also expected EPS of $0.14 with revenue of $2.438 billion. On April 27,...
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Casino Analyst: 'Macau Is Not Empty'
Monday, March 9, 2015 - 3:36pm | 358Read More...Macau casino management teams remain cautious, but uncowed even as February gaming revenue for the gambling mecca came in 48 percent below a year earlier, an analyst said. "Macau is not empty. General traffic patterns around the properties felt okay." said Bank of America analyst...
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UPDATE: Bank Of America Downgrades Wynn Resorts
Tuesday, October 14, 2014 - 10:04am | 235Read More...Bank of America downgraded Wynn Resorts, Limited (NASDAQ: WYNN) to Neutral and reduced its price target from $210 to $195 in a report issued Tuesday. Analysts led by Shaun C. Kelley believed that "Macau’s challenges are likely to last longer than we previously anticipated"...
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Q2 Gaming A Winner In Las Vegas, Not So Much Regionally
Monday, July 14, 2014 - 10:15am | 404Read More...Strong Las Vegas results coupled with weakness in Macau and regional gambling adds up to a mixed bag for gaming stocks, an analyst said Monday. Macau's gaming revenue in June posted its first drop since 2009, falling nearly four percent in the face of a slowdown in China's economy and...
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UPDATE: Bank Of America Reiterates On Vail Resorts On Mountain Of Opportunity Ahead
Monday, June 23, 2014 - 7:04am | 131Read More...In a report published Monday, Bank of America analyst Shaun C. Kelley reiterated a Buy rating on Vail Resorts (NYSE: MTN), and raised the price target from $80.00 to $92.00. In the report, Bank of America noted, “MTN remains one of our favorite ideas and is entering its typical summer/fall period...
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UPDATE: Bank of America Reiterates on Penn National Gaming After Winning Massachusetts Slot License
Monday, March 3, 2014 - 10:32am | 131Read More...In a report published Monday, Bank of America analyst Shaun C. Kelley reiterated an Underperform rating on Penn National Gaming (NASDAQ: PENN), and raised the price target from $10.00 to $12.00. In the report, Bank of America noted, “Last Thursday evening, the Massachusetts Gaming Commission...
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UPDATE: Bank of America Initiates Coverage on Gaming & Leisure Properties as Rate Exposure Offsets M&A
Monday, November 25, 2013 - 8:15am | 126Read More...In a report published Monday, Bank of America analyst Shaun C. Kelley initiated coverage on Gaming & Leisure Properties (NASDAQ: GLPI) with a Neutral rating and $50.00 price target. In the report, Bank of America noted, “Following the spin-off of PENN's real estate, we are initiating coverage...
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Bank of America Reiterates Underperform on Caesars Entertainment on Updated Valuation, SOTP
Thursday, October 17, 2013 - 10:11am | 99Read More...In a report published Thursday, Bank of America analyst Shaun C. Kelley reiterated an Underperform rating and $11.00 price target on Caesars Entertainment Corp. (NASDAQ: CZR). In the report, Bank of America noted, “Caesars is moving toward the distribution of subscription rights for ‘CAC' through...
