The 5 Largest Gambling Stocks of 2021

4. Penn National Gaming, Inc. (NASDAQ:PENN)

Number of Hedge Fund Holders: 40

Recently, Morgan Stanley initiated its coverage on Penn National Gaming, Inc. (NASDAQ:PENN) with an Equal Weight rating and an $85 price target, highlighting the company’s iGaming and sports betting segment. Penn National Gaming, Inc. (NASDAQ:PENN), an American casino company, operates over 44 casino facilities in the U.S., which makes it one of the largest gambling stocks of 2021.

At the end of Q2, 40 hedge funds in the Insider Monkey database reported owning stakes in Penn National Gaming, Inc. (NASDAQ:PENN), compared with 42 in the previous quarter. These stakes are valued at over $1.03 billion.

Carillon Tower Advisers mentioned Penn National Gaming, Inc. (NASDAQ:PENN) in its Q2 2021 investor letter. Here is what the firm has to say:

Penn National Gaming is a diversified omnichannel provider of retail and online gaming, live racing, and sports betting entertainment. After a substantial run, Penn National Gaming sold off during the quarter, reflecting a profit taking in a number of sports and online gambling stocks. However, fundamentals are healthy in firm’s regional gaming markets and its sports betting initiatives remain strong.”