Bull market for sports betting action as major players shoulder in-Sep. 5, 2020 10:22 AM ET|About:
Comcast Corporation (CMCSA)...
The chips are starting to fall in the exploding sports betting world....
Van I as tooling around the TV the other day and I stumbled on Fox Sports Bet or something, an attempt at a betting show. And...
NBC Sports' (NASDAQ:
CMCSA)
huge $500M investment in PointsBet Holdings (OTCQX
BTHF) was followed closely by DraftKings (NASDAQ:
DKNG) shaking things up with a high-profile partnership with Michael Jordan. At the same time, MGM Resorts (NYSE:
MGM) is striking partnerships for its BetMGM app and Penn National Gaming (NASDAQ:
PENN) is believed to be weeks away from the highly-anticipated Barstool app launch. In a quieter manner, Wynn Resorts (NASDAQ:
WYNN) and Scientific Games (NASDAQ:
SGMS) have deepened their relationship to offer more sports betting options in key states.
"U.S. sportsbooks are in an all-out battle to capture bettors' attention and attract users. We expect the current wave of partnerships within traditional media and high-profile personalities to continue as brands fight for attention and market share," notes Roundhill Investments, operator of the Roundhill Sports Betting & iGaming ETF (NYSEARCA:
BETZ).
Fanduel (
OTCPK
DYPY) and
William Hill (
OTCPK:WIMHY) are two of the other notable companies looking to cash in on the sudden surge of sports betting opportunities. After a springtime-early summer period of laying odds on badminton and South Korean baseball, the sportsbooks now have college football, NBA playoffs, NHL playoffs, a coming NFL season and the Kentucky Derby.
Sports betting could go even more mainstream as more cash-strapped states push forward legislation and the pandemic keeps a higher percentage people at home.
>>>> So We Have To Ask Ourselves... Is there a quick trade in Penn? Yes it would of been far better to have bought this in the high $30's and I did for some friends accounts but due to need of fire power-- yours truly has been left out of the Penn action.
PENN) Currently $54
BUY PENN NATIONAL:Craig-Hallum analyst Ryan Sigdahl initiated coverage of Penn National (PENN) with a Buy rating and
a $75 price target, noting that he sees potential to $200-plus. The analyst believes Penn National has an unmatched competitive position that should lead to top 3 market share and industry-leading profitability. The sports betting and online gaming market is less than $2B today but is expected to grow to $20B-plus over the next decade, he added.