Goldman Sachs Says DraftKings, Penn National Can Rebound In 2022

Posted on: December 28, 2021, 01:23h.

Last updated on: December 28, 2021, 02:19h.

DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN) — two of this year’s most repudiated gaming equities — could be big winners in 2022, according to Goldman Sachs.

Goldman Sachs
Goldman Sachs headquarters in New York. The bank says DraftKings and Penn National could bounce back in 2022. (Image: Fox Business)

The bank recently published a list of 40 stocks with average upside potential of 45 percent over the next year. Using call options, the names in that group could offer an average return on premium of 197 percent over the coming 12 months, says Goldman.

DraftKings and regional gaming behemoth Penn National are the gaming stocks on the Goldman list. For investors in those names, the Goldman grouping is relevant because when the bank speaks, market participants tend to listen.

Our past analysis has shown Goldman Sachs ratings alone have been a statistically significant driver of alpha,” a team of Goldman analysts, led by John Marshall, head of derivatives research, and Vishal Vivek, equity derivatives strategist, write. “Goldman Sachs analysts are Buy rated on these stocks, and see an average 45 percent upside over the next year. But call options cost 15 percent, implying 197 percent potential return on premium on average.”

The bank previously opined in bullish fashion on Penn, highlighting that stock earlier this year as one with significant upside potential.

DraftKings, Penn Looking for 2022 Redemption

Off the March 2020 coronavirus market lows and into first quarter of this year, Penn was one of the best-performing domestic stocks — gaming or otherwise. Similar sentiment applies to DraftKings, which became a standalone public company in April 2020.

However, both names are being shellacked this year. Amid concerns about market share, customer acquisition spending, and what could be an increasingly long road to profitability, some analysts are souring on DraftKings. The stock is down almost 21 percent over the past month, 39.43 percent year-to-date, and is 63.14 percent below its 52-week high.

Still, it ranks sixth on the Goldman Sachs list. The bank’s price target on the online sportsbook operator is $63, meaning the shares would have to more than double to get there. Goldman says options traders could generate an almost 300 percent return on premium, based on call contracts trading around $8 if DraftKings runs to the bank’s price forecast over the next year.

DraftKings is drawing criticism from at least one well-known investor, who sees an extended time line to profitability, and says the company is overvalued. Broadly speaking, sell-side analysts still like the stock, but price targets are coming down in recent months.

Penn Plausible Rebound Candidate

Penn National is off 41.17 percent year-to-date, and is more than 65 percent below its 52-week high. But Goldman is optimistic on the Hollywood operator.

The bank has a $99 price target on the stock, about double where it closed today. Goldman says Penn calls could generate return on premium of 281 percent for options traders. The stock is eighth on the bank’s list.

Some analysts argue that Penn stock is being punished by one-off external factors that aren’t commentaries on the company’s fundamentals, and that margin management and expansion at regional casinos can continue in 2022, potentially stoking a rebound.

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Harry Reid, Former US Senate Majority Leader and NGC Chair, Dead at 82

Posted on: December 28, 2021, 07:38h.

Last updated on: December 28, 2021, 10:20h.

Harry Reid, an iconic Nevada politician who made his mark both in Las Vegas and Washington, died Tuesday at the age of 82.

Harry Reid
Former US Sen. Harry Reid, seen here in his official 2009 portrait as Senate Majority Leader, died Tuesday after a four-year battle with pancreatic cancer. The longtime Nevada politician and public official, who also chaired the state’s gaming commission from 1977-1981, was 82. (Image: Senate.gov)

Best known nationally as the Democratic leader in the US Senate from 2005 to 2017, including eight years as the Senate Majority Leader, the Searchlight native served his home state in some capacity for nearly a half-century. That started after he won election to the state Assembly in 1969 and included a term as lieutenant governor from 1971-1975. He was the youngest lieutenant governor in the state’s history.

Two years later, he would become chair of the Nevada Gaming Commission (NGC). His four-year term there was noteworthy for a couple reasons.

Reid was enshrined in the Gambling Hall of Fame in 2001. Besides his time on the NGC, the Hall of Fame noted Reid served as a voice for “hundreds of thousands of people whose jobs are supported by gaming” as well as communities that rely on gaming as an economic engine.

Landra Reid, Reid’s wife of 62 years, issued a statement saying he died peacefully Tuesday afternoon with his family around him. He succumbed to pancreatic cancer after a “courageous” four-year fight.

“We are so proud of the legacy he leaves behind both on the national stage and his beloved Nevada,” Landra Reid said.

Funeral arrangements will be revealed in the near future.

Denied Rosenthal Gaming License as NGC Chair

Reid was the chairman when the NGC voted in 1979 against giving Frank “Lefty” Rosenthal a gaming license. Police in Las Vegas had determined that Rosenthal had been running several casinos behind the scenes without a license. The Commission refused to issue him one citing his criminal record and his ties to organized crime.

The two men had a confrontation after the hearing that was caught on video, where Rosenthal asked Reid in front of several reporters to confirm that the chairman sought his help quashing an unfavorable story.

Rosenthal’s life was the basis for the movie Casino, and the commission’s hearing was portrayed in the Martin Scorsese film. Dick Smothers played the character based on Reid.

In his memoir The Good Fight, Reid recalled a 1981 incident in which his wife thought there was an issue with the family’s station wagon. The police were eventually called and a bomb was found attached to the vehicle

Reid also helped the FBI arrest Jack Gordon in 1978 after the entertainment manager tried to give him a $12,000 bribe to authorize two new casino games. Reid allowed authorities to use his office for a sting, recording Gordon’s attempt to bribe him. As agents came into Reid’s office to make the arrest, Reid stormed Gordon and tried to choke him.

The term on the NGC was not without some controversy. An FBI affidavit in 1979 revealed conversations between organized crime leaders who claimed to exert control over Reid. Reid strenuously denied having any ties to the mob.

After serving on the Gaming Commission, Reid would serve two terms in Congress, representing Nevada’s First District before winning election to the US Senate in 1986. He served five terms before retiring in January 2017.

Las Vegas-based journalist and author Geoff Schumacher told KNPR in a February 2016 interview, when he was director of content for the Mob Museum (he now is the museum’s vice president for exhibits and programs), that Reid’s time as NGC chair likely helped him prepare for his career on Capitol Hill.

“It gave him a thick skin, if he didn’t already have one,” Schumacher said. “I mean he faced a lot of pressure when he was on the Gaming Commission and it came in a variety of ways and one of those was threats against him and his family.”

Las Vegas Airport Recently Renamed for Reid

Reid, who celebrated his 82nd birthday on Dec. 2, made headlines earlier this month when the state officials renamed McCarran International Airport near the Las Vegas Strip in his honor.

The name change will cost more than $7 million, with it paid for through corporate and private donations. Boyd Gaming Executive Chairman William Boyd, former Diamond Resorts Chairman and CEO Stephen Cloobeck, and noted sports bettor and businessman Billy Walters all gave $1 million for the cause.

His last post on Twitter, dated Dec. 14, was a statement expressing gratitude over the honor.

The airport is a very special place to me,” Reid said. “I worked hard during my years in Congress to help build and grow the airport, and it is a source of tremendous pride to me… It is the indispensable ingredient to Las Vegas’ success; it is the gateway through which millions come from every corner of the world to see our city, which is like no other place on earth.”

Nevada Gov. Steve Sisolak issued a statement Tuesday shortly after the announcement of Reid’s death. He noted that Reid emerged from humble beginnings to become of Nevada’s more ardent voices in the nation’s capital.

Sisolak called Reid a trusted mentor, a father figure, and a straight shooter.

“To say Harry Reid was a giant doesn’t fully encapsulate all that he accomplished on behalf of the state of Nevada and for Nevada families,” Sisolak said. “There will never be another leader quite like Sen. Reid.”

American Gaming Association President and CEO Bill Miller, a former congressional aide and a longtime lobbyist and public affairs executive, described Reid in a statement as “the ultimate gaming champion.”

“I’m grateful for having known the senator throughout my career in Washington, DC,” Miller said. “Without a shadow of a doubt, Sen. Reid was one of the sharpest, most effective political minds to ever enter the arena.”

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Baccarat Betting Systems

Baccarat is a card game played concerning 2 fingers, the “player” and the “banker” at casinos all over the world. Every baccarat coup (round of play) has 3 prospective penalties: “player” (player has the higher score), “banker”, and “tie”. There are A few distinguished versions of the activity. Those incorporate punto banco (or “North American baccarat”), baccarat chemin de fer (or “chemmy”), and baccarat banque (or à deux tableaux).
Within just punto banco, each player’s moves are pressured by means of the playing cards the player is dealt. In just baccarat chemin de fer and baccarat banque, by distinction, both avid gamers can create possibilities. The successful chances are inside of favour of the lender, with a Room edge (which is in point at any casino recreation in direction of support assure the casino creates their money) no reduce than in the vicinity of One per cent.
The origins of the recreation are controversial. Some resources assert that it dates to the Nineteenth century. Other resources assert that the video game was produced into France against Italy at the close of the Fifteenth century by means of troopers returning towards the Franco-Italian Warduring the reign of Charles VIII.
This is just not a heritage lesson more than baccarat. Rather, we are relocating in the direction of move into some of the primary betting and actively playing insider secrets that player’s will retain the services of all through the game.
Card CountingCard counting is a participating in system that was made well known upon the blackjack tables. It has been so popularized via flicks, publications, and Television reveals that Incredibly significantly everybody is common with the basic strategy. By yourself may perhaps be asking yourself that this is a system for the mathematically gifted. Really, it is really Incredibly the opposite.
Card counting can be done by means of simply pertaining to everyone. The only factor it takes is some easy addition and subtraction. The target of this procedure is in the direction of make a decision who will get a far more advantageous hand within just each individual spherical of the recreation.
This is sure one thing that’s relevant to blackjack, but can oneself depend playing cards inside of baccarat and specifically about each individual other poker game out there. Seeing as baccarat loosely follows the very same gameplay structure as blackjack, the place Two palms are drawn and the maximum Just one wins, it can be likely in the direction of employ the service of card counting Though playing baccarat.
There are a selection of requirements that really should be satisfied inside purchase toward acquire the greatest out of your card counting knowledge.
First, your self completely should really be enjoying at a desk that uses a 6 deck shoe or an 8 deck shoe. No far more, no much less. The shoe must be clean as soon as your self get started counting or the complete system will tumble apart.
The shoe is the gadget that is utilized at basically more than just about every poker table. It holds the playing cards that are dealt out through the supplier. The shoe alterations approximately each individual 30 minutes within just on the net dwell baccarat, so if on your own be part of just before this happens, just be affected individual and sit it out for a minimal When. The worst factor that may possibly take place is yourself incorporate towards be reluctant 50 % an hour in direction of consider it out.
Ideally, yourself need to participate in at a table the place the shoe is utilised the complete path through. Usually this simply transpires within land-based casinos; even now, by yourself can continue to put into practice this procedure on line. After you have satisfied all A few, or at minimal the initial Two of this sort of disorders, you will be organized to master the ins and outs of card counting for baccarat.
Martingale1 of the oldest betting packages, the Martingale is a damaging development procedure used in just chance-based online games such as roulette, baccarat, and craps.
It basically assumes that avid gamers should wager the similar quantity back at the time they win and double their wager after they drop.
For Case in point:
On your own guess $5 and oneself win, then on your own bet $5 again. Continue to, if you lose, by yourself need to have toward guess $10. You reduce back again, oneself guess $20. The idea is that every time on your own eventually gain, and literally each season yourself acquire, you will be up $5 regardless of your former losses.
Here’s an additional example that may perhaps help yourself recognize better. You’ve guess $5, nonetheless right after 4 losses, by yourself acquire.
You’ve received $160, but you have previously lost $155 against your last bets (the initially $5 + $10 + $20 + $40 + $80 against your closing winning bet).
So, within theory, it appears including by yourself can never lose and that you can expect to usually be up your first wager. Within just truth of the matter, variables are choice. Envision betting $5 and using a streak of thirteen consecutive losses.
Then your future wager would include in direction of be $40,960, assuming that you consist of that type of revenue.
If yourself drop back again, which is unfortunately much more heading than a ton of contemporary and ambitious avid gamers believe that, you’ll have toward wager up $81,920, and that’s more than the lessen of utmost properties.
This sales opportunities me towards the key point—when oneself play Martingale, inside the prolonged work on your own will both run out of monetary or the casino betting constraints will slash your method small, even if you happen to be willing to level crazy significant bets.
Applications like Martingale are greatest ordinarily only relocating towards work for small or uncomplicated gambling classes and much less betting rounds.
While baccarat with its reduced house benefit appears to be which include a Fantastic alternative in the direction of try out the procedure, it is not sensible that you test it though playing on the web.
On the web rounds shift substantially more quickly than actively playing inside an real bodily on line casino, and the possibilities of using your bets back employing Martingale are much larger if oneself pay back fewer time actively playing.
The max advisable playing year if oneself are transferring toward present the Martingale betting tactic a shot is One particular hour. In advance of on your own arrive up in direction of that hour taking part in year, your self could possibly participate in A hundred and twenty rounds of Baccarat.
ParoliParoli is a common, well known, tried-and-tested positive-betting system whose goal is in direction of strengthen the chances of escalating your income through getting advantage of profitable streaks.
The Paroli Betting Process is about One hundred many years old, very first currently being used at 1 of the casinos inside of the gambling mecca of Monte Carlo. It consists of simply because grow to be one of the optimum well known betting Guidelines in the global.
The course of action turns into its reputation against the Latin time period ‘par’, which means “one that is equal”. Victor Bethell, the person who arrived up with this betting method, pressured in just his ebook ‘Monte Carlo Anecdotes’ inside 1910 that the Paroli Betting Procedure is a direct improvement wagering procedure that is just the contrary of the Martingale course of action.
As a make a difference of real truth, the betting system is even constantly referred to as the Reverse Martingale method.
Within just essence, Paroli seems to be in the direction of combine some of the variables of the Martingale method and Anti-Martingale system into 1. Each time it all will come down toward it, its Two major needs are toward produce reduced wins continuously and in the direction of stop the probability of enormous losses.
Paroli is perceived by its avid gamers as a much less hazardous betting course of action. This is because of the truth that superior bets are generated utilizing money gained towards the casino rather than a sacrificial wager from the player’s individual person bankroll.
Inside of comparison, fans of the Martingale Course of action hire up their individual monetary within invest in in the direction of destination major bets as soon as losses.
LabouchereThe Labouchere is not for your self if you are on the lookout for a uncomplicated and/or innovative betting course of action.
It is really a single of the far more intricate applications and usually takes some using employed towards. I would not suggest it if you are contemporary in the direction of baccarat. Inspite of its place of problems at the time utilizing this system, it can be one of the utmost valuable and popular betting courses concerning avid gamers.
Labouchere, Far too Acknowledged As…
This procedure is much too regarded by a several other names, like the Break Martingale, the Cancellation Method, and American Advancement. It is really a destructive progression approach like the Martingale, consequently it consists of improving stakes as soon as wasting bets.
The principal principle is that oneself ought to be able in direction of recover the losses towards losing wagers with a smaller sized selection of wins. This comparable in the direction of the Martingale process, yet another damaging development process, however the Labouchere does not check out in direction of get better all past losses with 1 single win.
Instead, it makes an attempt toward get well losses with multiple wins. A person of the beneficial elements of this system is its overall flexibility. Given that the participant is in a position in the direction of change the initially betting sequence, the participant can alter their amounts of risk and gain a minor.
This method, as effectively as the other people, are all extremely popular—you may literally read through countless numbers of guides over betting applications. I totally would recommend practising and carrying out extra scientific tests just before you go and get started inserting revenue on the desk. Retain the services of a betting procedure anytime oneself engage in, and you happen to be going towards be added worthwhile than if your self specifically performed blind.
ConclusionJust which include any other approach, Those people plans choose some teach toward study. Certainly, yourself could be capable to determine them out instantly away, yet it really is alternate as soon as your money is upon the desk and other players are provided. I imply paying out a good deal of period enjoying on the web first—either for free or for money—to get a really feel for how the courses energy and towards teach. Nothing appears worse than relocating in the direction of a table in just a actual physical on line casino and striving such packages out, only toward get rid of economical and incorporate it be rather obvious what you are executing.
Are there any betting programs I left out? Permit me realize in just the feedback.

Online Sports Gambling Malaysia

With the Pretty huge selection of online gambling internet websites nowadays, it may well confirm extremely hard in the direction of locate the ideal online on line casino Malaysia particularly Whilst by yourself are a starter in just on-line gambling and taking part in no cost trial slots. Range of sites seeking to trap customers in the direction of sign-up with them this is no top secret as you will have found that a superior variety of online casinos present yourself a number of styles of welcome bonuses the moment your self register. Some occur in just the variety of no cost spins, some come about in just the type of no deposit bonuses, many others occur in just the variety of first deposit bonuses. All of this is built towards attract oneself toward indication up upon the internet websites. Still, what oneself really should choose observe of is the truth of the matter that When a casino specials by yourself Good reward offers, this does not necessarily mean the casino is the least complicated web page you should sign-up upon.

Whenever thinking of which web page satisfies yourself, by yourself should really acquire into focus guaranteed Explanations these kinds of as the sort of playthrough criteria that are connected toward the reward Deliver, is it unrealistic or is it doable?On your own ought to in addition contemplate other Explanations this sort of as the procedures for deposits and withdrawals, how quick the withdrawal methods are; way too if you are a cryptocurrency user, irrespective of whether it’s an on the internet on line casino that bargains yourself cryptocurrency bills. An additional considerable element is the privateness and the security presented through the casino on the net Malaysia. These are issues your self need to normally place into thing to consider every time picking out what casino your self motivation to participate in within. If you’re an on the net gambler who enjoys in the direction of gamble upon the move, then yourself should really continue to keep your eyes glued in the direction of this educational content material we’re pertaining to in the direction of relay in the direction of oneself. Gambling anyplace on your own need to have toward can at present be accomplished added than at any time, everywhere yourself are due in the direction of the cell casino within just Malaysia. With Cell Casino gambling, therefore much your self include a smartphone and an web romance, your great online on line casino online games within just Malaysia can be accessed through your cell phone.

Cell On line casino within just Malaysia is furnished within just 2 major ways: the initially is during the on line web browser; while the moment is in the course of specially devoted mobile casino applications which are delivered for android as properly as iPhone people. The moment oneself deliver use of your on line browser for on the web gambling, oneself don’t skip something. This is considering the fact that HTML5 was utilised within just creating the online on line casino Malaysia web-sites making them optimized and usable upon smartphones. That’s why, always crank out employ the service of of your cellular mobile phone browser Though yourself need toward get to Cellular casinos; we suggest using the present-day upgrade of Chrome browser as this will make the on the internet gambling technique upon smartphones exceptionally seamless and smooth. Therefore, as a Malaysian gambler who prefers online gambling on cell, what are on your own waiting for?Consequently much you are with your smartphone, almost nothing is preventing yourself.

On your own can bet anywhere, and any time. Maximum reside on line casino on-line online games truly offer you your self a feel of a true on line casino with responsive and cheerful dwell sellers. Any time playing at a stay casino, there is a live vendor with whom oneself engage on the exhibit and your self additionally perform with other on the internet avid gamers. Each vendor contains their table and you can look at the vendor upon your exhibit whilst actively playing. You’ll be satisfied towards know the online games are via well known creators this kind of as Evolution Gaming, NetEntertainment. Some of individuals which provide stay game titles and which we endorse consist of 22Bet, Genesis, King Billy, 888, PlayAmo, between some others.

As we claimed at the starting, today, a lot of of Those people offshore casinos are multiplying. Yet the checklist more than includes the easiest capabilities Even though participating in game titles are living. Within just the coming yrs, online casino Malaysia will expand at an even quicker rate. This is due to the real truth on the internet gambling is not announced illegitimate by way of any legislation. When, actual physical gambling is closely regulated inside Malaysia throughout the Betting Act enacted within 1953; as properly as during its Lotteries Act of 1952, and the Racing Act1961 allow some kinds of betting, actual physical betting at casinos is a matter of complexity because of towards the merged Muslim and Non muslim inhabitants which contains substitute values.

However as for gambling on-line, this is not probably towards be the circumstance. Purpose getting that the on line types are majorly offshore operated casinos that include discovered licenses towards regulatory govt including the Federal government of Curacao and Malta Gaming Authority MGA.