In 2020, the company, which was then called Penn National Gaming, bought a 36% stake in Barstool Sports valued at $450 million and options to increase its stake to 50% in the future. Barstool is a sports media empire with millions of monthly active users and reportedly over 100 million social media followers. In February of this year Penn said it paid $388 million for the 64% stake in Barstool Sports it did not already own.
Penn Entertainment stock has a $46 target price at Credit Suisse. That compares with a $41.89 consensus target and the most recent close at $28.91 a share.
Wynn Resorts
This opulent casino company is the high-end of the industry and offers very solid long-term growth potential. Wynn Resorts Ltd. (NASDAQ: WYNN) designs, develops and operates integrated resorts. The company operates through the following four segments.
The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites and villas, including a health club, spa, salon and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.
The Wynn Macau segment operates casino space with private gaming salons, sky casinos and a poker room; a luxury hotel tower that includes health clubs, spas, a salon and a pool; food and beverage outlets; retail space; meeting and convention space; and Chinese zodiac-inspired ceiling attractions.
The Las Vegas Operations segment operates casino space with private gaming salons, a sky casino, a poker room and a race and sports book; a luxury hotel tower with suites and villas, including swimming pools, private cabanas, full-service spas and salons, and a wedding chapel; food and beverage outlets; meeting and convention space; retail space; and theaters, nightclubs and a beach club.
The Encore Boston Harbor segment operates casino space with gaming areas and a poker room; a luxury hotel tower with a spa and salon; food and beverage outlets and a nightclub; retail space; meeting and convention space; and a waterfront park, floral displays and water shuttle service.
The $138 Credit Suisse price objective is a Wall Street high. The consensus target is $119.31, and Wynn Resorts stock closed at $109.00 on Thursday.
While most March Madness NCAA brackets have been busted, sports gamblers can reset every time somebody wins or loses, and you can be sure there will be a ton of action coming in this weekend for the Final Four and next Monday when the National Championship game is played.
Originally published at 24/7 Wall St.
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