2024.07.08
mohegan sun casino atlantic cityThe resort is set to have more than 300 hotel rooms with panoramic views of the Elizabeth River. The gaming complex developed by the Pamunkey Indian Tribe finally received a name this week. HeadWaters is a 0 million development that is to be built on 13.4 acres of land next to the Harbor Park baseball stadium. q casino eventsAn attached parking garage will accommodate 2,000 vehicles, and guests arriving via Amtrak will have easy access to the resort. Hedgeye’s Todd Jordan is part of that group, but he sees the operator’s regional casinos driving share price appreciation.We’d like to focus investors back on PENN’s brick-and-mortar operations, which should provide significant earnings before interest, taxes, depreciation and amortization (EBITDA) upside versus Street Q1 and full year 2021 and 2022 estimates, and drive the stock back up close to previous highs,” said Jordan in a Monday note to clients.That’s welcome commentary for Penn investors, as the stock is lower by almost 16 percent over the past month. The company, which operators roughly 40 casinos across 20 states, reports first-quarter earnings on Thursday.“We see value back into the 0s, as Q1 (and beyond) earnings redirect investors to focus on PENN’s sizable B&M operations, and a better understanding of its long-term online sports betting/iGaming strategy,” adds Jordan.Penn stock now resides on HedgeEye’s best ideas list.Managing Online ExpectationsAt a time when investors and operators alike are scurrying to get slices of the internet casinos and sports betting pies, Penn management needs to better articulate “their more deliberate strategy,” according to Jordan.Currently, sports wagering is live and legal in 21 states and Washington, DC. winstar world casino dining is desert diamond casino non smokingmorongo casino seafood buffet menuA rendering of the HeadWaters Resort & Casino in Norfolk, Va., is seen. (Image: HeadWaters Resort & Casino)That followed Virginia’s authorization of commercial gambling in five economically struggled cities last year, and a successful local ballot referendum.“Headwaters,” the tribe says, represents the beginning of a river, and the term is also a nod to the importance “that rivers have played in the tribe’s and the city’s history.” Norfolk is a waterfront city in southeastern Virginia in the Hampton Roads area, where the James, Nansemond, and Elizabeth rivers intersect. An attached parking garage will accommodate 2,000 vehicles, and guests arriving via Amtrak will have easy access to the resort. cashman casino app at 2 in March, Penn stock has been in a tailspin, slumping more than 39 percent. An attached parking garage will accommodate 2,000 vehicles, and guests arriving via Amtrak will have easy access to the resort. The tribe is additionally building a marina on the river, which will allow boaters to dock and enjoy the resort and casino.As for the casino space, HeadWaters has yet to disclose how many gaming positions — the number of slot machines and table gameboomtown casino new orleans casino caesar imperator wullowitzbellagio casino hotel las vegasHedgeye forecasts upside of 30 percent-plus for Penn stock. at 2 in March, Penn stock has been in a tailspin, slumping more than 39 percent. at 2 in March, Penn stock has been in a tailspin, slumping more than 39 percent. The company, which operators roughly 40 casinos across 20 states, reports first-quarter earnings on Thursday.“We see value back into the 0s, as Q1 (and beyond) earnings redirect investors to focus on PENN’s sizable B&M operations, and a better understanding of its long-term online sports betting/iGaming strategy,” adds Jordan.Penn stock now resides on HedgeEye’s best ideas list.Managing Online ExpectationsAt a time when investors and operators alike are scurrying to get slices of the internet casinos and sports betting pies, Penn management needs to better articulate “their more deliberate strategy,” according to Jordan.Currently, sports wagering is live and legal in 21 states and Washington, DC. Penn’s Barstool Sportsbook app is live in just Illinoblack oak casino locationis, Michigan, and Pennsylvania, with eyes on launching in Indiana and New Jersey this month and five more states by the end of this year. An attached parking garage will accommodate 2,000 vehicles, and guests arriving via Amtrak will have easy access to the resort. hollywood casino shuttle casino roulette wheel winning |