ready for football season<\/a>. The company also noted that while its online casinos business is gaining momentum, it’s not doing so at the expense of land-based gaming venues in its home state of Pennsylvania.<\/p>\n<\/div>\n\u201cThe launch of the app is on track for initial roll out in September, and is expected to be fully rolled out to all states by 1Q21,\u201d said Shojaian. \u201cIt’s seemingly becoming the common trend that when PENN management speaks, especially on sports\/iGaming, the stock goes up.\u201d<\/p>\n
However, there are vulnerabilities for Penn and other equities levered to the sports trade. The 2020 college football season increasingly appears to be on the brink because of COVID-19. Last week, the University of Connecticut canceled its season, becoming the first FBS program to do so.<\/p>\n
On Saturday, the Mid-American Conference (MAC) — a favorite of bettors because of the league’s mid-week games and often high-scoring affairs — followed suit<\/strong>.<\/p>\nRegional Strength<\/h2>\n
Penn echoed sentiments from many of its rivals that already stepped into the earnings confessional, highlighting strength in its regional gaming portfolio during the June quarter.<\/p>\n
Shojaian notes the operator’s venues that reopened in May, including Southern properties, are performing the best, and that the company can get reach 2019 EBITDAR levels on 90 percent of that year’s revenue, an improvement over a prior forecast of 95 percent.<\/p>\n
The analyst has a \u201cpeer perform\u201d rating on the stock, which is up more than 1,200 percent from its March lows<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"On the back of a decent second-quarter earnings report delivered last week, and favorable comments from management on July and August booking trends, Penn National Gaming (NASDAQ: PENN) notched a jaw-dropping weekly gain of almost 45 percent. As impressive as that it is, a run like that in a short time frame can give some […]<\/p>\n","protected":false},"author":46,"featured_media":144256,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Penn Stock Risk\/Reward Isn't All That Exciting, Says Analyst<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n