The ShinesRooms.com Provides Stock Research onPenn National Gaming Inc. and Caesars Entertainment Corp. New York City, New York -- As spending in casinos depends on disposable incomes of individuals, Penn National Gaming Inc. (NASDAQ:PENN) and other major players are approaching 2013 very carefully, as consumers continue to adjust to lower discretionary income levels related to higher taxes and other economic factors. Since 2009, Indiana’s 13 betting sites have yielded declining tax revenues every year. Projections for the next two fiscal years assume about $120 million less because of Ohio competition. Revenue Forecast in December suggested casino market is saturating.
Access our free reports onPenn National Gaming Inc. (NASDAQ: PENN) and Caesars Entertainment Corporation (NASDAQ: CZR).Traders can also connect to our Wall Street Trading Floor where our research desk and market pros are standing between 8:50 am to 4:15 pm ET at
Penn National Gaminghas revised the original forecast and now expects net revenues of $3.152 billion (previous forecast for fiscal 2013 net revenue was $3.202 billion), Adjusted EBITDA of $881.2 million (previous forecast for fiscal 2013 Adjusted EBITDA was $905.1 million), net income of $263.9 million (previous forecast for fiscal 2013 net income was $281.1 million). The current stock price is trading at $52.29 that is very close to its 52-week high of $52.68. The one year return on the stock has been nearly 27%, which is exceptional considering the revised forecast.Our free research report onPenn National Gamingcan be downloaded upon registration at
Caesars Entertainment Corp. (NASDAQ: CZR)rose by 38 percent to $13.91 at the close in New York in recent weeks. Following February 8, 2012, when the Las Vegas-based company almost doubled, this recent surge is the best rise on record. Caesars has rallied nearly 78 percent this week. The stock rose by 12 percent on February 4, when the company announced it may sale part of the stake in its online operation and two properties in order to raise money. According to a recent forecast, as much as $210 million in revenue can be generated for Caesars through internet gambling and another $84 million in earnings before interest, taxes, depreciation and amortization. The current outlook for the stock is highly optimistic as it is nearing a 52-week high. The current stock price trades at 88% of its 52-week high and going forward it has a 12% upside before it feels a resistance.Caesars Entertainmentfree research is available today at
Although, we have witnessed revised forecast time and again, the outlook of investors on resort and casino stocks still seems highly bullish as both U.S.-based players are trading at very high levels.
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