

The combination of physical locations and online interactive gambling enables a synergistic network effect where customers can gain comps and prizes while staying connected to the brand from virtually anywhere. The transaction is expected to close by February 2023. The Company just took 100% ownership of the popular Barstool Sports app just in time for the NFL football betting season. It also helps that PENN is a purely domestic casino chain that doesn’t have to worry about exposure to the uncertainty of China lockdowns, Macau closures, and communist regulators. It’s major online sports gambling and iGaming competitor DraftKings (NASDAQ: DKNG) is still suffering hundreds of millions in losses. The stock is trading down (-32%) for the year, but the Company has been profitable throughout the pandemic whiles it’s competitors like Las Vegas Sands (NYSE: LVS), and Wynn Resorts (NASDAQ: WYNN) are still bleeding red.

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