Penn Entertainment Announces Groundbreaking Ceremony For New Hollywood Casino Hotel Council Bluffs

Deutsche Bank upgraded Boyd Gaming (BYD) and Penn Entertainment (PENN) to 'buy', citing solid fundamentals and upside potential. BYD's price target raised to $99, PENN to $25. Both stocks have declined 21.6% and 31.4% respectively over the past 90 days. Analyst notes strong capital allocation and growth projects for BYD, and deleveraging for PENN.

PENN Entertainment (PENN) shares rose 5.3% premarket after Deutsche Bank upgraded it to Buy, citing strong fundamentals in regional gaming and Las Vegas markets. The analyst raised the price target to $25. The stock later cooled to $15.74, up 4.2%. PENN's theScore Bet signed a multiyear NFL partnership in Canada. The stock is volatile, down 28.7% from its 52-week high.

Deutsche Bank upgraded Penn Entertainment (PENN) to buy, raising its price target to $25 from $23, citing improved regional gaming trends. The stock has fallen 29% over three months, but the bank sees 66% upside potential. Analysts attribute the selloff to macro concerns, not company fundamentals. 13 of 21 analysts rate PENN as buy.

Deutsche Bank upgraded Penn Entertainment (PENN) and Boyd Gaming (BYD) to 'buy' due to improving gaming demand outlook, citing August's weak revenue as a calendar effect. It raised price targets to $25 (66% upside) for Penn and $99 (47% upside) for Boyd. Both stocks have fallen significantly over the past three months. Deutsche expects sector fundamentals to improve, with Penn's EBITDAR estimates above consensus and Boyd's share repurchases supporting its outlook.

PENN Entertainment (PENN) announced a $195M project to relocate and rebuild a casino in New Orleans. The company reported Q2 net income of $32.6M, up from a loss last year, and improved EBITDA to $312.6M. PENN has been restructuring debt and focusing on high-return landside venues, with mixed views on its valuation and execution risks.

Penn Entertainment began construction on an $180M-$200M Hollywood Casino in Council Bluffs, replacing the Ameristar riverboat. The 2028 project includes 1,000 slot machines, 25 table games, and new restaurants like Shake Shack. Existing hotel and dining facilities will remain, according to the company.