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home / news releases / GNOG - Casino sector roundup: Sports betting volume takes off MGM upgrade Penn invests in PointsBet

GNOG - Casino sector roundup: Sports betting volume takes off MGM upgrade Penn invests in PointsBet

Golden Nugget Online Gaming Inc.
Sports betting volume was up 123% year-over-year for the first weekend of the NFL season, according to pinging data from Geocomply. Jumps were seen in states where gambling were live last year to add to the hauls in new geographies. Morgan Stanley says pricing was slightly more favorable for customers, but concerns over hyper promotional activity may be overblown. Sports books are likely to have had a strong weekend with their hold after bettors favored NFL favorites, but 11 out of 15 underdogs covered the spread. Bernstein checked into the sector today with an upgrade on MGM Resorts (MGM +1.8%) to Outperform based in a large part on the BetMGM upside and see additional clarity on the big picture,. "We value MGM Resorts with a sum-of-the-parts as it remains a complex structure; however, with the real estate transactions announced, MGM becomes a much easier company to understand and value for

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Casino sector roundup: Sports betting volume takes off, MGM upgrade, Penn invests in PointsBet
Stock Information
Company Name: Golden Nugget Online Gaming Inc.
Stock Symbol: GNOG
Market: NASDAQ
Website: gnoginc.com
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