Janney Capital Reiterates Buy After Visiting Penn National Gaming's (PENN) New Casino

Janney Capital reiterates a Buy rating and $19.00 price target on Penn National Gaming (NASDAQ: PENN) after spending time at their recently opened casino in Plainville, Massachusetts, and their competitor. Analyst Brian McGill believes this opening will differ materially from the softer than expected Columbus opening.

McGill commented, "We had the opportunity to spend time at the recently opened Plainridge Park casino in Plainville, Massachusetts and its main competitor, Twin River casino in Lincoln, Rhode Island. We came away confident that Plainridge is off to a fast start and can achieve our $84 mln 2016 estimate, given the deep market and lack of competition. We continue to believe PENN will benefit from better trends in regional gaming with a strong April and May reported in most markets."

For an analyst ratings summary and ratings history on Penn National Gaming click here. For more ratings news on Penn National Gaming click here.

Shares of Penn National Gaming closed at $18.66 yesterday.

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