In a live Real Conversation on HedgeyeTV, Hedgeye’s veteran Gaming, Lodging & Leisure analyst Todd Jordan sat down with CEO Keith McCullough to talk his favorite long and short ideas, and overall outlook for the sector. During the live Q&A session, Todd answered a subscriber questions asking, “if you were forced to buy (and hold) one stock for a year or two, what stock would that be?”
"I would own Penn National (PENN). It’s had a great management team historically, which is critical for a buy & hold play. The Barstool move was very astute on their part. I have a pretty good idea what Barstool would be worth as a standalone company, and we know what Penn’s option to buy it at is; there’s a huge divergence, they can buy Barstool for far cheaper than it’s truly worth. The initial chunk they bought was at a very low price too,” explains Jordan as he highlights why he sees $PENN as a major outperformer in the gaming space.