PENN Entertainment: ESPN Bet Slowly Heading In The Right Direction


  • With lower revenue and greater losses, PENN Entertainment’s first quarter earnings were a disappointment for investors.
  • However, during the quarter, I believe the company made some positive steps for better management of ESPN Bet.
  • As the stock valuation in terms of the P/S multiple is hovering around the historical bottom, I believe the stock price would show better performance in the coming months.

Smart Phone Betting



PENN Entertainment, Inc. (NASDAQ:PENN) recently announced its Q1 earnings, which once again disappointed investors, causing the stock to drop more than -17% during the day and finishing roughly -9% lower. In my opinion, investors in the current stock market put more value on companies that

Analyst’s Disclosure: I/we have a beneficial long position in the shares of PENN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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