On The Call @ Hedgeye, Gaming, Lodging & Leisure analyst Todd Jordan provides insight into the Online Gaming Industry (OSB & iGaming) as large market share leaders grapple for control. Todd then discusses the setup for Regional Gaming vs Hotels.
Penn National Gaming (PENN): “Our belief is that Penn and Barstool, just from the fact of everybody spending less and them spending the same amount (as they historically spend more) probably will continue to gain share.”
MGM Resorts International (MGM): “They continue to do well, particularly in iGaming where it’s the market share leader. They had some downturn for a number of months, and now that has picked back up.”
DraftKings (DKNG): “DraftKings continues to lose share on the platform tracker and look worse and worse… We haven’t liked DraftKings, still don’t like it.”
“I think regional gaming will outperform on a relative basis, like long regional gaming and short hotels.”
For info on subscribing to Gaming, Lodging & Leisure Pro CLICK HERE
(This clip is a small taste of what our subscribers get each day on The Call @ Hedgeye. In a nutshell, The Call is our morning research call hosted by Hedgeye CEO Keith McCullough with our 40+ analyst research team. It helps small and large investors alike make better decisions via unique and investable stock/sector updates CLICK HERE to learn more.)
