Penn gaming is being added to the S&P500 later this month, after experiencing a meteoric rise from extreme lows last March. The run up has been incredible for PENN and most other gaming stocks, as more states look to legalize sports betting.
Personally, even at its current valuation, I’m bullish on PENN (as well as DKNG). As states look to climb out of COVID related debt, I think sports betting becomes even more widespread. Additionally, PENN will increase its ownership of Barstool Sports (a $20bn company in its own right) to 50% over the next few years.
Submitted March 12, 2021 at 07:21PM by jumpingmustang https://ift.tt/3rKGyZI
