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Tropicana Entertainment: Casino Operator Trading At A Significant Discount To Peers With At Least 30% Upside
- TPCA trades at nearly half its peer group valuation.
- The company can recapture sizable market share in its largest market as nearly one-third of its competitors exit.
- Carl Icahn owns 67.9% of the equity.
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Tue, Oct. 28, 10:33 AM| 1 Comment
Sat, May. 24, 3:39 PM
- Revenue from online gaming continues to disappoint in New Jersey. The Internet win for April for major players Borgata (BYD, MGM), Caesars Interactive (CZR), Trump, and Golden Nugget came in at $11.4M - less than $11.8M brought in during March. Original forecasts called for a take of over $30M a month in 2014.
- Easy access to illegal online gambling operators is thought to be reducing customer traffic. As a result, gaming companies are having a tough time capturing their investments as quickly as anticipated and are turning conservative.
- Boyd Gaming says it will cut advertising after recording a $3.2M loss from its Internet gaming business in Q1, while 888 Holdings (EIHDF) is shifting ad dollars to slots.
- The total gaming win in New Jersey (online and brick-and-mortar casinos) through April is down 1.2% to $874M. (Full report .pdf)
- The impact on brick-and-mortar casino traffic from legalized online gaming has been negligible so far in Nevada as well.
- Related: Online casinos face a hurdle from within the industry
- Casino stocks: TPCA, PNK, PENN, LVS, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
Wed, May. 21, 12:07 PM
- The American Gaming Association has dropped support for legalizing online gambling after seeing some major divisions between members on how a roll-out should progress.
- Casino heavyweights have bickered over what the regulatory framework should be for the industry.
- Though the launch of online gambling in Nevada, New Jersey, and Delaware hasn't gone as well as expected with offshore operators still dominating, Morgan Stanley forecasted the legal online gambling market could reach $8B a year by 2020.
- Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
- Related ETFs: BJK
Thu, Jan. 2, 8:57 AM
- Casino stocks should be approached with an air of caution in 2014 after the sector ran up some gaudy gains in 2013 to stretch out valuation, warns Hedgeye's Todd Jordan.
- Though online gambling in the U.S. and new opportunities in Singapore and Japan provide plenty of upside potential for the industry, a cooling-off period for some red-hot names could be seen until visibility clears on the new revenue streams.
- The long-term potential for both regional and global casino stocks still looks very bright, according to most analysts.
- Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MPEL, MCRI, ISLE, CNTY,
- Related ETF: BJK
TPCA vs. ETF Alternatives
Tropicana Entertainment Inc. owns and operates nine casinos and resorts in Indiana, Louisiana, Mississippi, Nevada and New Jersey. The Company owns approximately 6,000 rooms, 9,000 slot positions and 250 table games. In addition, the Company owns a development property in Aruba. The company is... More
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