GMBL - Casino stocks soar after Penn National Gaming's transformative deal sector earnings impress
Casino stocks are racing higher as investors turn their heads to strong earnings in the sector and Penn National Gaming's (PENN +8.6%) transformative deal to acquire Score Media and Gaming (SCR +79.2%). Jefferies and Morgan Stanley are positive on the PENN-SCR deal in early reactions. Penn is expected to see synergy benefits as the Score Media business turns more profitable down the road. EBITDA MGM Resorts (MGM +5.7%) is solidly higher its earnings report showed off Las Vegas Strip momentum and Wynn Resorts (WYNN +8.0%) also surprised to the upside. Other casino gainers include Rush Street Interactive (RSI +10.0%), Penn National Gaming (PENN +8.6%), Bally's (BALY +8.0%), Century Casinos (CNTY +6.2%), Red Rock Resorts (RRR +4.6%), Caesars Entertainment (CZR +5.1%) and Churchill Downs (CHDN +4.5%). The M&A in the sector also has investors eying Esports Entertainment Group (GMBL +8.8%), Enthusiast Gaming Holding (EGLX +5.8%), Golden Nugget Online Gaming (GNOG +5.1%) and GAN
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Casino stocks soar after Penn National Gaming's transformative deal, sector earnings impress