PENN - PENN Entertainment And ESPN Bet Hold Potential Amid Regulatory Hurdles: Analyst | Benzinga
Benchmark analyst Mike Hickey initiated coverage on the shares of PENN Entertainment Inc (NASDAQ:PENN) with a Hold rating.
With a strategic focus on expanding its digital footprint, leveraging high-profile partnerships, and enhancing its land-based operations, PENN is well-positioned to capitalize on the growing demand for sports betting and online gaming, said the analyst.
The expansion of ESPN Bet is poised to benefit from the ongoing rapid growth of the U.S. online gaming market, which the analyst anticipates could surpass $30 billion by 2028.