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Penn National's (PENN) theScore Bet Partners Toronto Blue Jays
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Penn National Gaming, Inc.’s (PENN - Free Report) subsidiary, theScore Bet, recently announced a collaboration with Canada’s baseball team — Toronto Blue Jays — becoming its official gaming partner.
Per the agreement, theScore Bet will have access to exclusive national marketing rights that extend across all gaming categories, including sports betting, casino, online casino, and fantasy sports. The association designates theScore Bet as the presenting partner of the Jays Care 50/50 program.
Moreover, the company has undertaken several initiatives to boost fan experience. This includes new and exclusive in-stadium and digital offerings (through various sponsorship elements), extensive in-stadium branding, in-game features and team-related experiences. The company stated plans to create a new branded, premium, 365-days-a-year, flagship sports bar and restaurant (at Rogers Centre) to boost its entertainment offerings.
Concerning the collaboration, John Levy, CEO, theScore Bet, stated, “With our combined loyal audiences and brand affinity in Ontario, we believe this deal will establish a new standard for team and gaming operator relationships as we pioneer innovative ways to experience and interact with the game.”
Price Performance
Image Source: Zacks Investment Research
Shares of Penn National have fallen 63.7% in the past year compared with the industry’s 44.6% fall. The downside was mainly due to the coronavirus crisis. The pandemic has dramatically reduced travel and demand for casino gaming and related amenities. In late December 2021, the company’s operations were affected by a spike in omicron cases as well as COVID-related restrictions. The company informed that the environment remains uncertain and chances of future disruptions cannot be ruled out.
Nevertheless, the company remains confident about its long-term prospects on the back of its differentiated omni-channel approach, technological investments and improvement in marketing capabilities. A partnership with Barstool Sports is likely to drive revenues during the upcoming periods. Going forward, the company intends to integrate Barstool Sportsbook into theScore media app to boost customer acquisition prospects and growth. Earnings estimates for 2022 have moved up in the past 30 days, depicting analysts’ optimism regarding the stock growth potential.
Funko sports a Zacks Rank #1 at present. FNKO has a trailing four-quarter earnings surprise of 96.2%, on average. Shares of the company have declined 22% in the past year.
The Zacks Consensus Estimate for Funko’s current financial year sales and EPS (earnings per share) suggests growth of 22.6% and 26.8%, respectively, from the year-ago period’s reported levels.
RCI Hospitality carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 63.2%, on average. Shares of the company have declined 14.4% in the past year.
The Zacks Consensus Estimate for RCI Hospitality’s 2022 sales and EPS suggests growth of 33.9% and 19.6%, respectively, from the year-ago period’s levels.
Bluegreen Vacations presently carries a Zacks Rank #2. BVH has a trailing four-quarter earnings surprise of 425.1%, on average. The stock has increased 22% in the past year.
The Zacks Consensus Estimate for BVH’s current financial year sales and EPS indicates growth of 8.3% and 20.8%, respectively, from the year-ago period’s reported levels.
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Penn National's (PENN) theScore Bet Partners Toronto Blue Jays
Penn National Gaming, Inc.’s (PENN - Free Report) subsidiary, theScore Bet, recently announced a collaboration with Canada’s baseball team — Toronto Blue Jays — becoming its official gaming partner.
Per the agreement, theScore Bet will have access to exclusive national marketing rights that extend across all gaming categories, including sports betting, casino, online casino, and fantasy sports. The association designates theScore Bet as the presenting partner of the Jays Care 50/50 program.
Moreover, the company has undertaken several initiatives to boost fan experience. This includes new and exclusive in-stadium and digital offerings (through various sponsorship elements), extensive in-stadium branding, in-game features and team-related experiences. The company stated plans to create a new branded, premium, 365-days-a-year, flagship sports bar and restaurant (at Rogers Centre) to boost its entertainment offerings.
Concerning the collaboration, John Levy, CEO, theScore Bet, stated, “With our combined loyal audiences and brand affinity in Ontario, we believe this deal will establish a new standard for team and gaming operator relationships as we pioneer innovative ways to experience and interact with the game.”
Price Performance
Image Source: Zacks Investment Research
Shares of Penn National have fallen 63.7% in the past year compared with the industry’s 44.6% fall. The downside was mainly due to the coronavirus crisis. The pandemic has dramatically reduced travel and demand for casino gaming and related amenities. In late December 2021, the company’s operations were affected by a spike in omicron cases as well as COVID-related restrictions. The company informed that the environment remains uncertain and chances of future disruptions cannot be ruled out.
Nevertheless, the company remains confident about its long-term prospects on the back of its differentiated omni-channel approach, technological investments and improvement in marketing capabilities. A partnership with Barstool Sports is likely to drive revenues during the upcoming periods. Going forward, the company intends to integrate Barstool Sportsbook into theScore media app to boost customer acquisition prospects and growth. Earnings estimates for 2022 have moved up in the past 30 days, depicting analysts’ optimism regarding the stock growth potential.
Zacks Rank & Stocks to Consider
Penn National currently has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the Consumer Discretionary sector are Funko, Inc. (FNKO - Free Report) , RCI Hospitality Holdings, Inc. (RICK - Free Report) and Bluegreen Vacations Holding Corporation .
Funko sports a Zacks Rank #1 at present. FNKO has a trailing four-quarter earnings surprise of 96.2%, on average. Shares of the company have declined 22% in the past year.
The Zacks Consensus Estimate for Funko’s current financial year sales and EPS (earnings per share) suggests growth of 22.6% and 26.8%, respectively, from the year-ago period’s reported levels.
RCI Hospitality carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 63.2%, on average. Shares of the company have declined 14.4% in the past year.
The Zacks Consensus Estimate for RCI Hospitality’s 2022 sales and EPS suggests growth of 33.9% and 19.6%, respectively, from the year-ago period’s levels.
Bluegreen Vacations presently carries a Zacks Rank #2. BVH has a trailing four-quarter earnings surprise of 425.1%, on average. The stock has increased 22% in the past year.
The Zacks Consensus Estimate for BVH’s current financial year sales and EPS indicates growth of 8.3% and 20.8%, respectively, from the year-ago period’s reported levels.