PENN surges on sports betting deal with ESPN, divests Barstool Sports to founder Dave Portnoy
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Penn National Gaming (PENN) Menioned Positively at Roth/MKM: 'Major Upside Potential'
August 10, 2023 7:22 AM EDTRoth/MKM analyst Edward Engel reiterated a Buy rating and $38.00 price target on Penn National Gaming (NASDAQ: PENN).
The analyst comments "We believe PENN's legacy land-based business is worth $19/share, which assumes a 13% yield on PENN's normalized land-based FCF of $400M. At... More
DraftKings (DKNG) cut at JPMorgan as shares slide in response to Penn-ESPN deal
August 9, 2023 1:31 PM EDTDraftKings (NASDAQ: DKNG) was raised to neutral from Underweight at JPMorgan on Wednesday, with analyst Joseph Greff maintaining a $26 price target on the stock.
Greff told investors in a note that they are moving their rating on the stock to Neutral following the... More
DraftKings (DKNG) Declines After Rival Penn (PENN) Enters Pact with ESPN
August 8, 2023 4:36 PM EDTDraftKings (NASDAQ: DKNG) Declines After Rival Penn (NASDAQ: PENN) Enters Pact with ESPN
Shares Down 8%... More
Penn National Gaming (PENN) Divests Barstool Sports to Founder David Portnoy
August 8, 2023 4:22 PM EDTPenn National Gaming (NASDAQ: PENN) announced:
PENN Divests Barstool Sports to Founder David Portnoy: PENN sold 100% of the Barstool Sports, Inc. (Barstool) common stock to David Portnoy in exchange for certain non-compete and other restrictive covenants. PENN also has the right to receive... More
PENN Entertainment (PENN) and ESPN Enter into Long-Term Exclusive Strategic Alliance for U.S. Online Sports Betting
August 8, 2023 4:20 PM EDTPENN Entertainment, Inc. (PENN or the Company) (Nasdaq: PENN) today announced that it has entered into a transformative, exclusive U.S. online sports betting (OSB) agreement with ESPN, Inc. and ESPN Enterprises, Inc (together, ESPN). PENN will discuss the ESPN transaction as well as its second quarter 2023 results on its previously scheduled conference call and webcast tomorrow morning at 9:00 a.m. ET. For further information, the Company has posted a presentation to its website regarding the transaction, which can be found... More
