Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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From: E_K_S	11/4/2019 8:41:32 AM
	of 7239

Analysts buzz over potential Tropicana deal Nov. 4, 2019 8:32 AM ET\|About: Penn National Gaming, Inc. (PENN)\|By: Clark Schultz, SA News Editor Penn National Gaming (NASDAQ: PENN) has created some buzz over last week's disclosure that the company had received "some unsolicited interest" over the Tropicana Las Vegas and associated land, notes CDC Gaming Reports' Howard Stutz. "Considering the immense value of the Tropicana’s underlying real estate and the multiples at which (real estate investment trust) deals have been transacted in recent months, we view the current landscape as ripe for a deal," advises Stifel analyst Steven Wieczynski. Meanwhile, SunTrust Bank gaming analyst Barry Jonas says Penn management has indicated that having a Strip presence was not necessarily an imperative. Shares of Penn are up 13.89% YTD.

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