Penn Entertainment could see medium-term profits according to analysts

Penn Entertainment stock rose on Thursday after a sell-side analyst claimed the long-undervalued gaming firm has near-term upside potential. ESPN Bet is not yet operational. Penn plans to launch the brand in November, just in time for the end of the NFL season and the majority of the NBA season. A leading analyst believes the operator has the potential to increase its online sports betting and gross gaming income.

 

[adams]

Penn Entertainment has undertaken calculated actions and investments that are projected to produce favorable outcomes in the upcoming months. The organization has broadened its footprint in pivotal markets, enriched the overall customer journey, and diversified its sources of revenue.

 

[mosesdera]

As someone who enjoys betting on sports, I'll be keeping an eye on the ESPN launch. If they can integrate betting insights and statistics well alongside game coverage, it could be very appealing for fans. However, operating in this new space also opens Penn up to more regulatory risks depending on how laws change.