Meanwhile, Wall Street has treated rival gym chain Xponential Fitness(NYSE:XPOF)like a 97-pound weakling ever since the company announced its IPO inlate June.
- The company franchises nine different gym chains, from PureBarre to Club Pilates. Nonetheless, XPOF had todownsize its IPO's size, and the offering priced in July at abelow-range $12 a share.
- The stock rose slightly during its first two session to hit $12.30, but has only lost muscle mass from there, with shares closing Thursday at $11.54 – 3.8% below their IPO price.
Pure Storage to host analyst day 16:45 PSTG Hybrid Financial Analyst Day 2021 will be held in New York on September 28 at 1 pm. Webcast Link
new name in gaming-
ZK International Group's (ZKIN) investee company MaximBet.com announced that it has secured market access in Ohio and Pennsylvania. After successfully launching in Colorado earlier this month, including achieving a record-setting number of bets on the opening weekend of the pro football season, MaximBet is quickly expanding its reach in avid sports markets across the U.S. and Canada. MaximBet's latest partnership will grant online sports betting access in Ohio. Separately, MaximBet will be gaining market access in Pennsylvania through Caesars Entertainment (CZR) in order to provide iGaming.
This s starting to get complicated... I think you buy MGM.
Jefferies analyst James Wheatcroft says taking a "middle-of-the-pack" takeout multiple for Entain's businesses outside the U.S. and putting a DraftKings multiple on its U.S. business implies a
fair value of GBp 2,820 for Entain. The analyst points out that MGM Resorts made a proposal for Entain earlier this year and has accumulated more cash on its balance sheet since. He thinks
investors "may thus expect competition" for Entain if a formal takeover bid from DraftKings materializes. Entain as a standalone company "has a long growth runway and would therefore attract a material premium," contends Wheatcroft. The analyst keeps a Buy rating on the shares with a GBp 2,335 price target. The analyst adds that
antitrust issues "may be a concern" in any possible deal.
While a deal with Entain (GMVHF) would be complex, Sigdahl said any potential outcome of DraftKings' (DKNG) pursuit that he envisions would be
"neutral to positive" for DraftKings and
"unanimously negative for competitors." In a case where DraftKings acquires Entain,
sells Entain's 50% BetMGM joint venture interest back to MGM Resorts and keeps the international assets and technology, he views it as a positive since it would be
highly accretive and "immediately transform the company into a global online gambling leader." In a case where
MGM outbids DraftKings for Entain, he would see that
as positive for DraftKings since it would force a main competitor to significantly increase its acquisition cost. If DraftKings were to acquire Entain including the 50% of the BetMGM JV, it would be positive, but he doesn't think MGM would allow that to happen, Sigdahl added. He has a Buy rating and $70 price target on DraftKings shares.
So if MFM gets MGMBets back it's big for MGM.
If Draftking's can pull off the buy and sell MGM Bets to MGM it's HUGE for Drfatkings/
If Draftkings gets out bid for Entain by MGM it's good for Draftkings.
Two of the three outcomes is good for Draftkings.<--------