Penn National Gaming (PENN) reported strong second-quarter earnings last week. Shares still fell, as investors weren’t too surprised or enthused by the numbers reported by the largest regional casino operator in the United States. What’s most surprising to me is investors seem to be completely missing a series of deals made by Penn prior to the second-quarter earnings that position the company strongly in the growing online sports betting market.
Penn National reported strong second-quarter financials despite several obstacles. The company cited poor weather that included flooding and the closing of several properties