10 Best Stocks to Buy According to Billionaire David Einhorn

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

Greenlight Capital’s Stake Value: $106.01 Million

Number of Hedge Fund Holders: 37

PENN Entertainment, Inc. (NASDAQ:PENN) is a resort and casino company providing integrated entertainment, sports content, and gaming experiences. It also operates online sports betting in various jurisdictions. While the stock is down by about 26% for the year, its long-term prospects are solid. The company boasts a diverse portfolio of 43 properties across 20 states.

In addition, PENN Entertainment, Inc. (NASDAQ:PENN) is increasingly positioning itself for growth in online sports betting and iCasino operations. In order to increase market share and reduce short-term losses, PENN is concentrating on product quality. PENN has also added new features like Milestone (WA: MMD)’s Market Cards to improve player prop betting capabilities,

An important advancement for PENN Entertainment, Inc.’s (NASDAQ:PENN) digital strategy has been the collaboration with ESPN for the ESPN Bet platform. Nevertheless, a key component of PENN’s operations is its retail casino division. Consumer activity at the company’s regional casinos has been steady, and slot volume trends have been positive. In competitive markets like Iowa, Chicagoland, and Louisiana, PENN is investing in strategic developments like the new Joliet facility and the renovations to Margaritaville to lessen the impact of new casino openings.