10 Firms Defy Market’s Bullish Momentum

7. PENN Entertainment Inc. (NASDAQ:PENN)

PENN Entertainment Inc (PENN) dropped its share prices by 2.32 percent on Wednesday to finish at $20.17 each along with an overall gaming sector decline.

Investor sentiment may have been dampened by news of lower December revenues from the gaming industry in some US states, including Kansas and Missouri, fueling concerns about the state of the sector in the country.

On Wednesday, Missouri said it registered a 3-percent dip in revenues for December to $164.8 million, while Kansas revealed a sharp decline in both sports betting and casino revenues, plummeting by more than 50 percent year-on-year.

In other news, PENN Entertainment (PENN) recently rebranded some of its retail sportsbooks with the ESPN brand.

According to PENN Entertainment Inc. (PENN), it would launch the ESPN Bet sportsbook at various locations across Pennsylvania, Colorado, Ohio, Iowa, Indiana, and West Virginia and will serve customers under PENN’s Hollywood and Ameristar casino brands.