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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?