Provincial Gaming Stocks Bottom Nearing, Says Analyst
Provincial Gaming Stocks Bottom Nearing, Says Analyst Floated by government improvement and repressed interest, territorial gaming stocks were industry pioneers following the Covid market breakdown in 2020 and into 2021. Yet, as those impetuses wound down, so did excitement for the stocks. One examiner accepts a base could be close. In a new note to customers, Roth Capital's Edward Engel notes territorial gaming valuations are moving toward levels not found in quite a while. But at the same time there's the phantom of conceivably easing back interest. With territorial gaming products moving toward box levels from 4Q18, we see similitudes between the present feeling and in those days. Like 4Q18, financial backers are looking past ongoing gross gaming income (GGR) flexibility, under the conviction that current interest is impractical," says Engel. This year, territorial gaming stocks like Century Casinos (NASDAQ:CNTY), Full House Resorts, and Penn National Gaming (NASDAQ:PE