Penn National Gaming analyst update
Don’t hold back: Compliments don’t come much more backhanded than in the Deutsche Bank note issued today, which upgrades Penn National to a hold from a sell on the basis of its “massive underperformance” against its regional gaming peers. “Since our downgrade, and after numerous character assassinations, we stuck with our sell rating, because it […]
Rush Street Interactive: boxing clever
Rush Street Interactive Q2 The top line Revenue was up 89% to $122.8m, net loss was down to $14m vs. $50.6m in Q220. Adjusted EBITDA loss was $6.6m vs -$3.7m in Q220. FY guidance raised to $465-$495m from $440-$480m, implying 72% YoY growth at mid-point. Adjusted advertising and promotions costs were up to $36.9m (30% […]
Boyd buoyed by high margin new normal
Boyd Gaming Q2 The top line Revenue more than quadrupled YoY to $893.6m (up 18.6% sequentially and a 5.6% increase on Q219) with net income coming in at $113.7m compared to a loss of $108.5m in the prior year period. Total adjusted EBITDAR hit $385.4m from $16.1m in Q220, up 23.8% sequentially. Company-wide margins came in […]