As previously reported, Morgan Stanley upgraded Boyd Gaming (BYD) to Overweight from Equal Weight and raised its price target to $23 from $17. Analyst Thomas Allen expects a pickup in regional gaming trends due to improving macro for core customers and said Boyd has greater tailwinds compared to Penn Gaming (PENN) given exposure to recovering oil markets, combined with lower leverage, and upside to current estimate.
Welcome to the latest edition of "Bet On It," where The Fly looks at news and activity in the sports betting and iGaming space. SECTOR RECAP: Nevada reported... To see the rest of the story go to thefly.com. See Story Here
Nevada reports February Las Vegas Strip gaming win up 12.4% to $800.75M versus last year. Publicly traded companies in the gambling space include Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (FLUT), Gan Limited (GAN), Genius Sports (GENI), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn Entertainment (PENN), Rush Street Interactive (RSI), Sportradar (SRAD) and Wynn Resorts (WYNN).