PENN - Casino roundup: Gambling stocks painted red Macau malaise Fanatics M&A intrigue
Gambling stocks are having a rough session even as industry reports show strengthening trends for both sports betting volume and iGaming activity. Decliners amid a broad risk-off stock market day include Esports Technologies (EBET -13.4%), GAN Limited (GAN -6.7%), Esports Entertainment Group (GMBL -4.5%), SharpLink Gaming (SBET -6.7%), Elys Game Technology (ELYS -4.7%), PlayAGS (AGS -2.8%), DraftKings (DKNG -3.3%), Accel Entertainment (ACEL -2.2%), Full House Resorts (FLL -4.6%), Golden Entertainment (GDEN -0.4%), Penn National Gaming (PENN -0.0%), Red Rock Resorts (RRR +0.1%) and Golden Nugget Online Gaming (GNOG -2.9%). Meanwhile, there is still a lot of anxiety over the near-term for the Macau sector with the Golden Week recovery looking unlikely. Wynn Resorts (WYNN +0.7%) is faring better than Las Vegas Sands (LVS -0.3%) and Melco Resorts & Entertainment (MLCO -1.1%) on the day. Looking for a potential M&A target in the casino and sports betting sector? Roundhill Investment's Will Hershey
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Casino roundup: Gambling stocks painted red, Macau malaise, Fanatics M&A intrigue