Home Business Gambling stocks like Penn are tanking. Deutsche Bank says these are the names to buy in the sell-off

Gambling stocks like Penn are tanking. Deutsche Bank says these are the names to buy in the sell-off

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Gambling stocks like Penn are tanking. Deutsche Bank says these are the names to buy in the sell-off

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Pedestrians cross in entrance of Caesars Palace resort and on line casino in Las Vegas, Nevada, U.S., on Sunday, May 02, 2021.

Roger Kisby | Bloomberg | Getty Images

Sports betting and on line casino stocks fell sharply on Thursday, persevering with a current stretch of weak spot in the house, however there are two names that stand out as enticing performs for buyers, in accordance to Deutsche Bank.

Thursday’s losses have been led by Penn National Gaming and DraftKings, with drops of roughly 10% and eight%, respectively. Penn reported its first-quarter outcomes earlier than the bell and beat expectations for a key revenue metric and income.

However, Deutsche Bank analyst Carlo Santarelli mentioned in a notice that the outcomes nonetheless cannot justify the firm’s valuation and reiterated the agency’s promote score.

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