We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Penn National Resumes Operations at 30 Properties, Stock Up
Read MoreHide Full Article
With the latest property reopenings at Ohio and Pennsylvania, Penn National Gaming, Inc. (PENN - Free Report) has resumed operations at 30 (out of 41) gaming and racing properties. Markedly, this represents more than 70% of the company’s regional gaming portfolio in 13 states (out of 19 operational states in total). Following the announcement, shares of the company increased 1.3% during trading hours on Jun 19.
Upon resuming businesses, the company has implemented a multi-layered set of protocols and procedures designed in compliance with state regulators and health officials to mitigate the spread of coronavirus. Also, the properties were reopened on approval basis only.
President and CEO of Penn National, Jay Snowden stated, “We are continuing to work closely with our regulators and state and local leaders to prepare for the eventual reopening of all of our remaining properties.”
So far this year, shares of Penn National have risen 25.8% against the industry’s 25.6% decline.
Reopening of Resort to Drive Top Line
Following closure of properties in mid-March due to the COVID-19 outbreak, Penn National looks to recover its business with improved traffic and more resort re-openings. To support the re-openings, the company is following regulatory guidelines to ensure safety and well-being of its guests and employees. It also ensures limited capacity seating across the casino floor.
Notably, management intends to ramp up business operations with more resort re-openings in times ahead. Reopening of its properties can drive the top line in the coming quarters.
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Penn National Resumes Operations at 30 Properties, Stock Up
With the latest property reopenings at Ohio and Pennsylvania, Penn National Gaming, Inc. (PENN - Free Report) has resumed operations at 30 (out of 41) gaming and racing properties. Markedly, this represents more than 70% of the company’s regional gaming portfolio in 13 states (out of 19 operational states in total). Following the announcement, shares of the company increased 1.3% during trading hours on Jun 19.
Upon resuming businesses, the company has implemented a multi-layered set of protocols and procedures designed in compliance with state regulators and health officials to mitigate the spread of coronavirus. Also, the properties were reopened on approval basis only.
President and CEO of Penn National, Jay Snowden stated, “We are continuing to work closely with our regulators and state and local leaders to prepare for the eventual reopening of all of our remaining properties.”
So far this year, shares of Penn National have risen 25.8% against the industry’s 25.6% decline.
Reopening of Resort to Drive Top Line
Following closure of properties in mid-March due to the COVID-19 outbreak, Penn National looks to recover its business with improved traffic and more resort re-openings. To support the re-openings, the company is following regulatory guidelines to ensure safety and well-being of its guests and employees. It also ensures limited capacity seating across the casino floor.
Notably, management intends to ramp up business operations with more resort re-openings in times ahead. Reopening of its properties can drive the top line in the coming quarters.
Penn National — which shares space with Caesars Entertainment Corporation (CZR - Free Report) , MGM Resorts International (MGM - Free Report) and Red Rock Resorts, Inc. (RRR - Free Report) in the Zacks Gaming industry — has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>