Sportsbook Momentum Continues for Penn National Gaming in Q3
Penn National Gaming's (NASDAQ: PENN) business consists mainly of regional land-based casinos spread across the U.S. and an online gaming component. Lately, the online segment, which offers gambling and sports wagering, is getting all the attention.
Understandably so. That part of the business is growing much faster than the land-based casinos and has better potential for revenue and profits in the long run. Consider that land-based casinos, especially the regional ones, are constrained by geography. The size of the population limits your customer base to within driving distance for the most part. There is no such constraint with online gambling. A customer from the farthest part of your state can make a bet on your app within a few minutes of getting an impulse.
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Source Fool.com
