Jordan Bender, Citizens JMP Senior Equity Research Analyst, joins Market Domination to give insight into the potential deal between Boyd and Penn Entertainment and how investors can navigate the current gaming sector landscape.
Now with ESPN, um and investors are starting to, you know, become worrisome about this and uh activists are getting involved in the story and that's what's really driving the noise. A large amount of capital in a perfect strategy to run the sports betting and I gaming business together.Some of the parts, maybe not there?You know, we don't know exactly what the value of the business is because we just haven't had enough time.So this upcoming September, we're going to have a fully functioning product, you know, from being able to cross sell, from ESPN, being able to promote to these people and retain them.
Well, on the flip side, you have a market perform rating on pen, but you do have an out perform rating, I believe on Boyd.You know, the, the reason we're skeptical, at least on Boyd by Penn is Boyd has been overly conservative, especially through COVID and kind of post COVID. And you mentioned earlier in this that, you know, it, it takes four or five years really to build up a good business and that's what draft kings did they spent, but they actually built the product where Penn is trying to shorten that time frame, do this in about a year, time timeline um and try and prove it solved.
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