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PENN - Gannett: Vision On Sports Betting May Be Through Rose-Colored Glasses
Penn National Gaming Inc.
The venerable USA Today print franchise likely to join the Jurassic Park of irrelevant print media properties. Gannett's local papers as well face the same potential bye-bye to print.
Even gains in digital eyeballs can't reverse the massive and growing glut of media content and make a bull case for the stock.
Management's leap of faith in a possible sports betting partnership deal may be a leap too far.