Monday, April 27, 2026 12:32 PM
Wall Street Bets is a roundup of recent notes from analysts covering the gambling industry.
Penn Entertainment
Macquarie’s Chad Beynon looked at Penn Entertainment on April 24:
The Penn story continues to focus on the disconnect between near-term noise from its interactive transition and the durability of its core land-based cash flows, and we believe 1Q26 results bring more clarity to both. In our view, the quarter demonstrated improved earnings quality driven by disciplined digital spend and resilient retail margins. As interactive becomes more of a controlled, lower-risk investment rather than an open-ended drag, we expect the coming quarters will provide more justification that Penn’s land-based earnings and cash flows should play a greater role in the company’s valuation.”
Flutter and DraftKings
David Bain of Texas Capital Securities examined Flutter and DraftKings on April 22:
“We lower 2026E/2027E Flutter and DraftKings EBITDA 1%/3% and 4%/4%, respectively to better reflect slower OSB handle and market share trends, as well as our view for increased costs related to both companies’ investment in prediction markets. Our near-term estimates are also refined slightly lower to better incorporate Flutter/DraftKings March Arkansas OSB launches. We lower our DraftKings/Flutter price targets to $26/$170, reflecting estimate changes.”
Double Down Interactive
Josh Nichols of B Riley Securities looked at Double Down Interactive on April 23:
“Buy-rated DoubleDown Interactive ($22 PT) reports 1Q26 results in the coming weeks. We model revenue of $94 million (+13.0% year-over-year, in line with consensus), with social casino accounting for 82% of sales (+10.5% year-over-year, including ~$12 million WHOW Games contribution) while organic social casino declines ~6% year-over-year as secular headwinds persist. SuprNation revenue of $16.6 million (+25.9% year-over-year, 18% of sales) continues scaling with improving profitability, offsetting legacy business pressure.”
Gaming and Leisure Properties
Truist Securities’ Barry Jonas on April 24 looked at Gaming and Leisure Properties:
“Q1 adjusted funds from operations beat us/Street by +2% driving a modest guidance raise along with increased visibility for Chicago spend (no changes to 1H27 opening timing). On top of $1.8 billion remaining in commitments, GLPI noted that its pipeline remains active and the market feels more rational, despite any rate volatility. We take our estimates to the high end of the range given GLPI’s growth outlook and stability of cash flows. Reiterate Buy rating and $60 price target.”
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‘ Some details of this article were extracted from the following source cdcgaming.com ’
