Penn is now closing the gap on other well-known internet-based gambling companies such as DraftKings and FanDuel, and is expected to be a major player in the industry for the foreseeable future. Overall the Penn stock has shot to the moon over the past year and is up more than 163% despite the recent dip and the mixed Q1 report.

Penn also reported a $0.55 earnings per share which is greater than the $0.35 earnings per share reported from Q1 of 2019. There are mixed feelings about this earnings report, as Penn reported a $608.6 million loss in Q1 of 2020, due largely to the combination of a substantial investment in Barstool Sports and the outbreak of the COVID-19 pandemic. In Q1 of 2021, Penn generated revenues of over $1.2 million, which is a 6% decline compared to Q1 of 2019. Many of the facilities Penn operates are under the Hollywood Casino brand, but they’ve also created a spin-off company called Gaming and Leisure Properties in November 2013 as a real-estate investment trust (REIT) specializing in casino properties.Īt the time of this writing (), Penn is trading at $77.57, with a 52 week range of $26.96 - 142.00 and a market cap of $12.13B.

Penn National Gaming (NASDAQ Ticker: PENN) is an American company that operates 43 facilities including casinos and racetracks throughout the United States and Canada.

Penn casino gaming investment thesis