One Gambling Company Just Placed a Big Bet on ItselfAs America’s favorite sport begins its next season, there’s a potentially lucrative deal you need to be aware of.
What’s happening?Last week, I wrote to you about the tremendous rise of legal sports gambling in the U.S., and the huge profit opportunities that have come with it.
Come to think of it, I’ve been banging the drum several times this year to alert readers to the bright future that sports gambling has in the U.S. as more states vote to legalize the industry.
Back in June, I recommended picking up shares of DraftKings Inc. (DKNG) – an online sports betting platform – during a pullback. And I hope you did just that, because shares of DKNG have rallied as much as 7.35% since that time.
And with the NFL football season now officially upon us – with the Steelers and Cowboys having played the first preseason game last night – sportsbooks could be in for a huge surge in revenue.
But DraftKings isn’t the only name to watch.
Thanks to a big move from one of the country’s top gaming companies, we’re seeing some unbelievable profits being made.
Where’s the money?On Thursday morning, news broke that Penn National Gaming, Inc. (PENN) has agreed to a deal to buy Score Media & Gaming Inc. (SCR).
The $2 billion deal, which would give SCR shareholders $17 per share and 0.2398 shares of PENN for each SCR score, brings a massive player in the industry into Penn National’s fold.
Score’s sports media app is the top sports app in Canada and the third largest in the U.S.
Penn also owns a 36% stake in Barstool Sports – a popular sports media brand – which will ultimately help drive more customers to Penn’s sportsbook.
Penn National’s stock has languished in recent months due to a lack of major sporting events – falling roughly 52% since May’s high. But with the NFL football season just around the corner, and the estimated $100 billion in wagers that comes with it, now could be the perfect time for Penn to strike this deal.
PENN stock gained as much as 10.85% at its highest point yesterday after the announcement of the merger.
And while I didn’t have my nose buried in the headlines, I knew that something big was happening for this stock.
How do I get some?During today’s Live Trading Room session, I saw maybe one of the best signals come across my S.C.A.N. system.
In tracking the market’s largest order flows, we saw an enormous number of PENN August 6, 2021 Calls being bought for $0.39.
And in a matter of minutes, that option went on a ridiculous rocket ride all the way up to $5.35. That’s an unbelievable 1,271% gain. Even if you had just thrown $1,000 on the trade, you’d have made $12,710 in roughly the time it takes to make a cup of coffee.
With investor sentiment around PENN so high right now, I believe we’re going to see even more incredible profit opportunities in the days and weeks to come.
And there’s only one way to get my recommendations on the best ways to play it…
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I can see every move they make in real-time, and I track their moves to find the best opportunities to double your money in just a few short weeks or less.
Every Monday-Thursday, I show members of my 1450 Club research service the exact trades to make to play those movements for the biggest potential gains in our Live Trading Room.
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In the Spotlight: Yet another disappointing IPOIn a record year for IPOs, we’ve seen a fair share of new stocks disappoint in a big way.
It’s a trend that we’ve seen time and time again – and one I’ve tried to warn readers of Profit Pregame about.
Yesterday, we got the latest example of why you need to be careful trading around IPOs.
Weber Inc. (WEBR) made its debut on the market yesterday. While the popular barbeque grill maker had hoped to raise as much as $797 million.
But after issues arose regarding WEBR’s IPO, the company ultimately slashed it goals and sold 18 million shares for $14 each for a grand total of $252 million.
I’ve said it before, and I’ll say it again: the hype surrounding IPOs lately has led to a host of overvaluations and share prices that take a dive shortly after going public.
I’ve got a sharp eye on the IPO schedule each week, and I will continue to warn you against any I feel could be a trap for investors. Stay tuned.