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doubledown casino newsPenn National issued a statement this morning saying that it has struck a deal with David Portnoy’s media property.With Penn stock cruising toward its best intraday performance in years and on volume that’s already more than five times the daily average, it’s clear investors are enthusiastic about the Barstool deal. For instance, it’s barely more than half the turnover generated by Las Vegas Sands (NYSE:LVS) for the 12 months ending Sept. But at least one analyst is urging a more reserved approach.Given our somewhat pessimistic view of the current sports betting craze, we find ourselves feeling cautiously optimistic about the strategic merits of PENN’s announced 3M investment in topen double down casino fvsahe Barstool Sports brand,” said Stifel analyst Steven Wieczynski in a note provided to Casino.org.Under the terms of the deal, Penn is paying 5 million in cash and million in equity for the 36 percent interest in Barstool. coolcat mobile casino codes(Image: WQAD.com)The regional gaming company was granted permission by the Louisiana Gaming Control Board (LGCB) last month to bring the Isle of Capri to dry land, becoming the first of the state’s 15 riverboat casinos to win that approval.By bringing the riverboat casino ashore, Eldorado will be able to significantly increase theWhen it comes ashore, the Isle of Capri in Westlake, La. 30, 2019.Sales Job RequiredIn reiterating a “buy” rating and price target on Penn National, one that now implies only modest upside after Wednesday’s surge, Wieczynski says management needs to do an effective job of convincing investors that the Barstool buy is the right move.“At the end of the day, we are not suggesting investors should simply close the book on the Barstool transaction. cashman casino won t open

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thunder valley casino general managerwill have more slots and table games and possibly a new name. will have more slots and table games and possibly a new name. Shares of Penn National Gaming (NASDAQ:PENN) rallied to a 52-week high Wednesday. free casino slot machineSands is widely viewed as one of the leading contenders to win of the initial three Japanese gaming licenses.On the company’s fourth-quarter earnings conference call Wednesday, LVS Chairman and CEO Sheldon Adelson didn’t overtly mention Yokohama, but he confirmed the company continues to pursue new markets, including Japan.In three years, the gaming company can boost that stake to 50 percent for another million, which would set the stage for the operator to eventually become the outright owner of the sports and pop culture site. “Although management reiterated its desire to get lease-adjusted net leverage to 5.0x by CYE20, we believe today’s dopen double down casino fvsaeal, in some ways, runs counter to the deleveraging message.”There’s something to the notion that the overall sports wagering opportunity may be subject to too much ebullience. roulette casino quotes

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paragon casino gift card(Image: The Verge)Rumors of the deal swirled for several weeks before hitting the wires late Tuesday night. Still, there are parts of the marriage that give Wieczynski pause.The analyst notes that while there’s “a lot of buzz” surrounding online betting and sports wagering in the US, the market remains highly fragmented, with “challenged unit economics.” Said another way, sports betting can be a revenue driver for gaming companies, but not necessarily a significant contributor of increased profits.“Second, PENN’s recent message to investors has been all about deleveraging,” said the Stifel analyst. Penn also becomes Barstool’s official gaming partner for 40 years as part of the agreement, which is expected to close in the current quarter.Too Much EnthusiasmOne of the centerpieces of the deal is obvious: Barstool has an estimated 66 million avid readers and users, many of whom are millennials and Generation Z, demographics that traditional gaming companies like Penn are looking to better connect with. Penn also becomes Barstool’s official gaming partner for 40 years as part of the agreement, which is expected to close in the current quarter.Too Much EnthusiasmOne of the centerpieces of the deal is obvious: Barstool has an estimated 66 million avid readers and users, many of whom are millennials and Generation Z, demographics that traditional gaming companies like Penn are looking to better connect with. Still, there are parts of the marriage that give Wieczynski pause.The analyst notes that while there’s “a lot of buzz” surrounding online betting and sports wagering in the US, the market remains highly fragmented, with “challenged unit economics.” Said another way, sports betting can be a revenue driver for gaming companies, but not necessarily a significant contributor of increased profits.“Second, PENN’s recent message to investors has been all about deleveraging,” said the Stifel analyst. (Image: The Verge)Rumors of the deal swirled for several weeks before hitting the wires late Tuesday night. red stag casino deposit bonus