Vince Martin
Long/short equity, value, gambling

Penn National Gaming: Still Bullish, But...

Admittedly, I've had a pretty poor year when it comes to forecasting the US regional gaming space. I thought the group as a whole still had more room to run after some torrid gains in late 2014/early 2015 (likely boosted by optimism that $2 gas would free up discretionary spend), but the space for the most part stalled out in the back half of last year, and unsurprisingly, has had a rough go of it in 2016.

PENN data by YCharts

Adding insult to injury, I've also picked the wrong stocks in the group, pounding the table for Isle of Capri (NASDAQ:ISLE) (which I bought before it crashed following earnings in early December) and staying relatively bullish on

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