Regional gaming is back! Well that’s a little strong but we are seeing improvement and insiders are buying.
- Anecdotally, we’re hearing May is showing improvement from April (which improved from March) which is consistent with our math as seen below.
- June will be impeded by one less weekend day but still, the overall decline should only be modest.
- Overall, Q2 is shaping up nicely relative to reduced guidance. The release of May gaming revenues beginning in early June could be catalysts.
- Insiders at both PENN and PNK have bought stock in the last week – obviously a positive signal. BYD management, did you hear that?