10 Best Gambling Stocks To Buy According to Hedge Funds

7. PENN Entertainment, Inc. (NASDAQ:PENN)  

Number of Hedge Fund Holders: 37  

Market Capitalization as of December 3: $3.41 Billion  

PENN Entertainment, Inc. (NASDAQ:PENN), formerly Penn National Gaming, is a major operator of casinos, racetracks, online gaming platforms, and iCasino offerings in 26 jurisdictions in North America. The company operates well-recognized brands including Hollywood Casino, ESPN BET, L’Auberge, and the Score BET Sportsbook.

PENN Entertainment, Inc. (NASDAQ:PENN) is leveraging its partnership with ESPN, and the ownership of theScore, the top digital sports media brand in Canada, to expand its footprint and grow its customer ecosystem. PENN Entertainment, Inc. (NASDAQ:PENN) is focusing on organic cross-sell opportunities and using its PENN Play customer loyalty program to offer its 31 million members a unique set of rewards and experiences across business channels. The company is also using its in-house game development studio, PENN Game Studios.

On November 19, PENN Game Studios launched a new iCasino game, Multiplayer Blackjack, on its Hollywood Casino online platform in New Jersey. Multiplayer Blackjack creates a social gaming environment, allowing users to create a customized private table to play alongside friends or select from a lobby of existing public tables. This new game is expected to support the company’s growth by offering a unique and engaging experience for players. This will help to build a sense of community and loyalty among players, which can lead to increased player retention and acquisition.