To get a sense of just how volatile this market is, consider that Penn National Gaming (NASDAQ:PENN) stock has doubled from its lows. Yet, Penn National stock still is down 74% from its 52-week high.Source: Casimiro PT / Shutterstock.com The decline in PENN stock makes some sense. Casinos nationwide have been shut down amid the response to the novel coronavirus. Penn has a fair amount of debt on its balance sheet. It owes billions of dollars more in lease payments to Gaming and Leisure Properties (NASDAQ:GLPI), which Penn spun off in 2013, and Vici Properties (NYSE:VICI).But I've continually advised investors to take the long view in this market. Indeed, that's good advice for all of us as we navigate this unprecedented crisis.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPenn National stock is a good example of the potential opportunities available in a market that is only focused on the short term. We will get through this crisis. Our economy will recover. And when it does, PENN should rally. The Risks Are Real…Again, it's not hard to see why some investors see Penn National stock as risky. The company is burning cash as its casinos nationwide stay closed. A report from Macquarie on March 24 suggested the company had just five months' worth of cash remaining. * 7 Telecom Stocks That Are Worth a Close Look Meanwhile, if a short-term recession follows even once casinos re-open, Penn ostensibly could face more trouble. It closed 2019 with $2.3 billion in long-term debt -- but that's not its largest liability.It carries lease liabilities on its balance sheet at over $8.5 billion. Total lease payments over the next 30 years exceed $20 billion. In the fourth-quarter release in early February, Penn said it expected those cash payments to be roughly $900 million in 2020.Penn has to make those payments even while its properties are closed. And the worry is that even when they re-open, business will be slow. Consumers may be loath to return to crowded casinos. Customers who have lost their jobs in the current crisis may take time to find new employment -- and have the discretionary spending required to visit Penn properties.To many investors, then, Penn National stock simply is too risky. And they're not completely wrong. Given debt and lease liabilities, PENN is a high-risk investment right now. But the rewards are huge -- and the risks may not be quite what some investors believe. …But Somewhat OverblownFrom both a short-term and long-term perspective, however, the risks may not be what they appear.Last week, Penn made a deal with GLPI to sell the Tropicana Las Vegas, and land under a project in Pennsylvania, for $337.5 million. Penn won't get the cash; instead it will get credit for rent going forward. The proceeds should cover about four months' of lease payments.Penn also, unfortunately, started furloughing workers on Wednesday. That will lower operating expenses. The company closed 2019 with $438 million in cash, which provides a further cushion.Again, investors have to understand the risks, and Penn will have short-term challenges. But the deal with GLPI creates a path to get through this crisis.Meanwhile, the history of the industry suggests it might be more resilient than some believe. In 2009, commercial casino revenues fell just 5%. Regional casinos saw an even smaller decline.Penn has a strong chance of getting through this crisis. And if it can, the long-term case looks attractive. The Case for Penn National StockAfter all, it was only two months ago that PENN stock was soaring.In late January, the company announced that it was acquiring a 36% stake in Barstool Sports for consideration of $163 million. The market loved the deal: PENN rallied sharply.It's not hard to see why. Barstool's audience represents a built-in base for Penn to drive significant revenue from sports betting. That's a multibillion-dollar opportunity for Penn National -- particularly as online sports betting takes hold.That opportunity still exists, even though PENN now trades below $10 instead of $35.I expect to see significant pent-up demand in the legacy business as well. The federal government has stepped up with relief, which should provide a bridge for the U.S. economy to bounce back. I still believe this decade will wind up being the Roaring 2020s, as I've named it, and casino operators like Penn can be huge beneficiaries.There are other sports betting plays out there. Diamond Eagle Acquisition (NASDAQ:DEAC) is acquiring fantasy sports operator DraftKings. Eldorado Resorts (NASDAQ:ERI) and Caesars Entertainment (NASDAQ:CZR) are set to merge.But DEAC hasn't declined as far as Penn National stock. Eldorado and Caesars don't have the same edge in sports betting that Penn does with Barstool.For long-term investors, there are opportunities in this space. I believe PENN is the best of them.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * This Stock Picker's Latest Video Just Went Viral * The 1 Stock All Retirees Must Own The post Industry-Leading Penn National Stock Is Far From a Gamble appeared first on InvestorPlace.

Gaming and Leisure Properties, Inc. (GLPI) (the “Company”), today provided an update on its business given the evolving situation surrounding the nationwide spread of COVID-19 and the related efforts to contain the virus. The Company’s properties reported strong Gross Gaming Revenue in January and February that exceeded its internal projections. In addition, the Company’s wholly-owned and operated TRS operating properties - Hollywood Casino Baton Rouge and Hollywood Casino Perryville - are following government directives for closure and will continue to follow precautionary guidelines once they re-open.

Casino stocks, already underwater over the past three weeks, took another deep dive following the news that Nevada Gov. Steve Sisolak ordered all nonessential businesses statewide to shut down for 30 days.

Penn National (PENN) initiates strategic measures to reduce operating expenses and protect its business during the COVID-19 pandemic.

Gaming and Leisure Properties, Inc. (NASDAQ: GLPI or “GLPI” or the “Company”) today announced the completion of the previously announced acquisition of Tropicana Las Vegas Casino Hotel Resort (the “Tropicana”) and provided an update on the collection of April 2020 rents for its portfolio of the real estate for 44 gaming and related facilities. On April 16, 2020, the Company and certain of its subsidiaries acquired the real property associated with the Tropicana from Penn National Gaming, Inc. (Nasdaq: PENN or “Penn National”) in exchange for rent credits of $307.5 million, which will be applied to rent due under the parties’ existing leases for the months of May, June, July, August, October and a portion of November 2020.

For those who thought stocks were leaving bear market territory behind, Friday's session delivered a rude awakening. In contrast to the market's recent violent swings in either direction, last week saw the S&P 500 land in the green three days in a row. While briefly inspiring optimism among some Wall Street observers, it rounded out the week by slumping back into the red on March 27. It closed trading yesterday in the green, as the U.S. became the COVID-19 pandemic's new global epicenter. Against this backdrop, investors have been scrambling to protect their portfolios, seeking out the names that can still hand out steady returns amid persistent volatility or even a recession. Sure, these types of investments aren't always easy to spot, but that doesn't mean it's an impossible job. According to the pros, high-yield dividend stocks can represent compelling plays in the current economic climate. A reliable dividend name can provide a stable profit, insulating a portfolio even if share price appreciation comes to a halt. InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 30 Stocks on a Deathwatch With the knowledge that not all dividend tickers are created equal, we turned to TipRanks' database to pinpoint seven high-yielding dividend stocks. Not to mention each "buy"-rated ticker boasts some impressive upside. Let's jump right in on the following seven high-yield dividend stocks to buy. High-Yield Dividend Stocks: Suncor Energy (SU) Source: Shutterstock The first in this list of high-yield dividend stocks is Suncor Energy Inc. (NYSE:SU). Operating as an integrated energy company, Suncor has placed a significant focus on sustainability, with its renewable energy portfolio comprised of wind farms and an ethanol plant. While shares have taken an intense beating in 2020, it offers return-minded investors an impressive dividend. For three years in a row, the company has been steadily bumping up its annualized payouts, with the figure now landing at $1.39, or 35 cents on a quarterly basis. Even more impressive is the yield, which comes in at 10.9% compared to the sector average of 0.06%. Turning now to the analysts, Wells Fargo's Roger Read points to the company's integrated model as being an encouraging sign. This model could help cushion Suncor from drops in absolute oil prices. However, it should be noted that this might not completely insulate the energy company during the second quarter as refined product demand is expected to take a hit due to the likely coronavirus-driven downturn. That being said, Read argues that demand for refined product could improve by mid-2020, with its operating and financial performances also slated for a boost, especially compared to its pure play E&P peers. It should come as no surprise, then, that the analyst left his Overweight rating as is. Even though the price target was reduced to $17.62, this still leaves room for a possible twelve-month gain of 31%. Out of nine recent reviews, eight were bullish, making the consensus rating a "strong buy." Adding to the good news, the $25.20 average price target brings the upside potential to a whopping 88%. See the SU stock analysis. Williams Companies (WMB) Source: Shutterstock Williams Companies, Inc. (NYSE:WMB) is another player in the energy industry, finding, producing, gathering, processing and transporting natural gas. On top of this, it manages a wholesale power business, with operations primarily located in the Pacific Northwest, Rocky Mountains, Gulf Coast, Southern California and Eastern Seaboard. Like fellow energy company Suncor, WMB has attracted significant Wall Street attention thanks to its dividend. This high-yield dividend stock yields 11.6% and appears that this attention is warranted. In real terms, this amounts to a per-share payment of 40 cents paid out monthly. Annually, the payout is $1.60. Not only does the current yield leave the industry average in the dust, but the company has also been able to increase the annualized payouts for the past two years. If that wasn't enough, the stock scored an upgrade from Bernstein analyst Jean Ann Salisbury. Driving his bullish thesis is his assumption that as the yearly reduction in "free" associated gas production should make up for reduced demand, lower oil prices could actually lead to higher gas prices. Salisbury believes this bodes well for Appalachia/Haynesville exploration and production and "arguably other gas-led basins as well." Looking at the current weakness in share price, the analyst does acknowledge that there's material counterparty risk. However, Salisbury doesn't think that this justifies the recent decline, arguing that its current valuation doesn't fully reflect WMB as a "safe harbor." Bearing this in mind, Salisbury changed his rating from "market perform" to "outperform." That being said, along with the upgrade, he cut the price target from $25 to $21, but this still implies 52% upside potential. * 7 Small-Cap Stocks That Might Not Survive Looking at the consensus breakdown, the rest of the Street is on the same page. 10 "buys" and "holds" add up to a "strong buy" analyst consensus. At $22.31, the average price target suggests 61% upside growth. See the WMB stock analysis. Pembina Pipeline (PBA) Source: (C)iStock.com/3dmentat As for the next stock on our list of high-yield dividend stocks, Pembina Pipeline Corporation (NYSE:PBA) owns a system of pipelines that transport crude oil, natural gas and natural gas liquids. Sure, 2020 hasn't been kind to the company, but it compensates with a noteworthy dividend. Investor focus has locked in on PBA for just that reason. With a yield of 9%, it's easy to understand why. To top it all off, the pipeline owner has a four-year long history of raising its dividend. Currently, the payout stands at $1.73 annually, with investors earning 43 cents per share each quarter. Meanwhile, RBC Capital analyst Robert Kwan points to yet another reason to be optimistic about PBA's long-term growth prospects. Citing the company's reaction to the elevated levels of uncertainty currently present in the market, he sees substantial long-term value for shares. This prompted Kwan to continue siding with the bulls, reiterating an "outperform" rating. It should be noted that along with the bullish call, the analyst dropped the price target to $18.33. Should this target be met in the coming twelve months, a modest gain of 9% could be in the cards. What does the rest of the Street have to say about PBA? It turns out that the stock earns 100% Street support, or 12 "buy" ratings to be exact. The message is clear: PBA is a "strong buy." At $34.72, the average price target is more aggressive than Kwan's and puts the upside potential at 107%. See the PBA stock analysis. Gaming and Leisure (GLPI) Source: Shutterstock Operating as a real estate investment trust (REIT), Gaming and Leisure Properties Inc. (NASDAQ:GLPI) boasts a portfolio made up of 44 gaming and related facilities. Its properties span 16 states, with its tenants including Penn National Gaming, Casino Queen, Eldorado Resorts and Boyd Gaming Corporation. What does it have in common with the other names on our list? A stellar dividend. When compared to the financial sector average of 0.06%, GLPI's 11% dividend yield isn't too shabby. Not to mention $2.80 per share is handed out to investors annually, a whopping 70 cents on a quarterly basis. The company has a reliable dividend history as well, bumping up the annual payment each year for the last five years. While some investors have expressed concern about the recent share price decline, members of the analyst community remain unfazed. Weighing in on the stock for Nomura, analyst Daniel Adam argues that the "worst case" is built into the share price, making the risk/reward profile "too compelling."According to Adam, investors are undervaluing where the gaming real estate investment trusts rank within their tenants' capital structure, and thus implies a "fundamental disconnect." As a result of this ranking, GLPI actually is first-in-line to get paid back if a tenant defaults. Based on everything the company has going for it, Adam upgraded his call from "neutral" to "buy." Decreasing the price target from $45 to $29, the potential twelve-month gain still lands at 5%. * 10 Undervalued Stocks Crashing on the Coronavirus Pandemic The rest of the Street is even more bullish on GLPI. Given the $46.33 average price target, shares could climb 67% higher in the next year. It doesn't hurt that at 8:1, the ratio of "buys" to "sells" assigned makes the consensus rating a "strong buy." See the GLPI stock analysis. DHT Holdings (DHT) Source: Shutterstock The next of the high-yield dividend stocks on this list, DHT Holdings, Inc. (NYSE:DHT), is an independent crude oil tanker company, with its fleet trading internationally and comprised of crude oil tankers in the VLCC segment. Despite its poor year-to-date performance, DHT makes it up to investors with its strong dividend. We're not kidding when we say the dividend is impressive. The yield is a whopping 16.2%, and the quarterly return per share lands at 32 cents, based on a $1.28 yearly payout. After the cooperation between OPEC, Russia, and a number of other non-OPEC producers fell through, Stifel Nicolaus analyst Benjamin Nolan believes that the amount of crude exports will increase. Additionally, oil prices could experience a sharp drop as inventories build up and the oil curve could see a "contango" develop, which would also cause inventory to grow. According to Nolan, the combination of all of these developments stand to benefit both rates and tanker demand in the near-term. In line with his bullish approach, Nolan just gave DHT a nod of approval. He upgraded the recommendation from "hold" to "buy" and left a $6.50 price target on the stock. Judging by the consensus breakdown, other Wall Street analysts are in agreement about this high-yield dividend stock. With four "buys" and one "hold" issued in the last three months, the verdict is that DHT is a "strong buy." On top of this, the $8.52 average price target implies that shares could surge 10% in the coming months. See the DHT stock analysis. Outfront Media (OUT) Source: Shutterstock.com Formerly known as CBS Outdoor, Outfront Media (NYSE:OUT) operates as an outdoor media advertising company, counting itself as one of the top players in the U.S. and Canadian markets. Through billboards that work alone or in conjunction with TV, radio and other online platforms as well as transit displays, the company connects its customers to their target audiences. With the company soaring 51% in last five days alone, to say that Wall Street is watching is an understatement. Despite its recent upward momentum, some investors have expressed concern after the company withdrew its guidance for 2020 adjusted funds from operations (AFFO) growth. It should also be noted that Q1 2020 revenue could come in flat or increase in low single-digits. However, when it comes to liquidity, the company is taking steps in the right direction, with it adding a $500 million revolving credit facility to the $59.1 million in cash it had as of Dec. 31, 2019. Most attractive for investors, though, is its dividend. The yield comes in at 12.8%, and the annualized payout lands at $1.52. Commenting for Imperial Capital, analyst David Miller doesn't dispute the fact that the company is facing some intense headwinds. As a result, he reduced his estimates for the company. That being said, shares are trading at book value. To this end, Miller remains optimistic about OUT. Along with his "buy" call, he trimmed the price target from $35 to $24, suggesting upside potential in the shape of 75%. * The 10 Best Value Stocks to Own in 2020 OUT's "strong buy" consensus rating breaks down into five "buys" and a single "hold." The $27.50 average price target indicates shares could skyrocket 100%, earning it a prime spot on this list of high-yield dividend stocks to buy. See the OUT stock analysis. Ladder Capital (LADR) Source: Shutterstock The last on this list of high-yield dividend stocks is Ladder Capital Corporation (NYSE:LADR), a fellow real estate investment trust that is the direct provider of $5 million - $100 million commercial mortgage loans secured by commercial real estate in the U.S. Much like the broader market, shares have taken a nose dive since the start of 2020, but the analysts say there are still plenty of reasons to bet on this name. One of those reasons is its dividend. At 28%, the yield surpasses the other tickers on our list. In addition, the annual payment comes out to $1.36, or 34 cents every quarter, with the company bumping up this payment for the last four years in a row. Looking to the Street's pro, one analyst in particular is singing LADR's praises. It's true that the company's shares have dipped 72% as opposed to the financial sector's 2.9% during the last six months. However, Deutsche Bank analyst George Bahamondes doesn't necessarily view this as a negative, as the weakness presents investors with an affordable entry point. He stated at the time, "LADR currently trades at 1.01x of undepreciated book value and pays a well-covered 19.1% dividend yield." To top it all off, while CRE transaction volume and other loan originations could decelerate thanks to the current economic uncertainty, its buyback program is a major step in the right direction, in Bahamondes' opinion. With this in mind, the analyst just gave LADR a thumbs up, upgrading the stock from a "hold" to a "buy." The $18 price target conveys his confidence in the stock's ability to skyrocket 226% in the next twelve months. Based on 100% analyst community support, the consensus is unanimous: LADR is a "strong buy." A twelve-month gain of 246% is on the horizon should the $18.67 average price target be met. See the LADR stock analysis. TipRanks offers investors the latest insight into eight different sectors by tracking the activity of over 5,000 Wall Street analysts. As of this writing, Maya Sasson did not hold a position in any of the aforementioned securities. More From InvestorPlace * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * This Stock Picker's Latest Video Just Went Viral * The 1 Stock All Retirees Must Own The post 7 High-Yielding Dividend Stocks to Buy Now appeared first on InvestorPlace.

Simon Property, Gaming & Leisure, Boston Properties and Macerich have seen insiders buying stock, some for the first time in years. Uncertainty from the coronavirus outbreak has hit real-estate investment trusts hard.

Gaming and Leisure Properties, Inc. (GLPI) today announced that the Company will release its 2020 first quarter financial results after the market close on Thursday, April 30, 2020. The Company will host a conference call at 9:00 a.m. ET on Friday, May 1, 2020. During the conference call, Peter M. Carlino, Chairman and Chief Executive Officer, and Steven T. Snyder, Senior Vice President, Chief Financial Officer, will review the quarter’s results and performance, discuss recent events and conduct a question-and-answer period.

Provides Update on Initiatives Undertaken to Address the Impact of the COVID-19 OutbreakDeclares 2020 Second Quarter Dividend of $0.60 per Common Share WYOMISSING, Pa., April.

As performance of REITs depends on the underlying asset types and location of properties, not all companies suffered pandemic-related setbacks in the second half of Q1.

GLPI earnings call for the period ending March 31, 2020.

Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

Potential Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) shareholders may wish to note that the Independent...

The stocks have rallied but there is room for more gains, according to Nomura Instinet analyst Daniel Adam.

Moody's Investors Service today downgraded Penn National Gaming, Inc.'s ("Penn") Corporate Family Rating ("CFR") to B1 from Ba3 and Probability of Default Rating to B1-PD from Ba3-PD. Positive credit considerations include Penn's large size in terms of revenue and high level of geographic diversification and the operating and financial benefits Moody's' believes are available to Penn through the company's relationship with Gaming & Leisure Properties, Inc. (GLPI, Ba1 stable), a real estate investment trust.

Moody's Investors Service, ("Moody's") has affirmed the Ba1 senior unsecured debt rating of GLP Capital L.P. (GLP Capital), the main operating subsidiary of Gaming & Leisure Properties, Inc. (GLPI). In the same action, Moody's assigned an SGL-3 rating to GLP Capital L.P. The rating outlook was revised to negative from stable.

Q1 2020 Gaming and Leisure Properties Inc Earnings Call

Some investors might look past Penn National Gaming (NASDAQ:PENN) at this point. After a post-earnings pop Thursday, PENN stock now has rallied nearly 400% from March lows. Meanwhile, near-term pressure from the novel coronavirus on the gaming industry seems likely to be intense.Source: Casimiro PT / Shutterstock.com From a long-term perspective, however, I believe that would be a mistake. I've recommended Penn National since it traded below $10 at the beginning of last month. At $18, I still believe the stock is a winner.After all, we're seeing the country, thankfully, begin the process of returning to normalcy. At some point, that will include the casino business.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, Penn has a huge opportunity in sports betting and online gambling. And the same heavily leveraged balance sheet that helped drive a 90% decline in a matter of weeks in March can amplify upside going forward.Certainly, to some extent, the easy money has been made. Penn National isn't going to gain another 384% over the next seven-plus weeks. But there's still a path for the stock to return to, and potentially beyond, highs near $40 reached early this year. * 10 Key Stocks to Watch Over the Next Few Months Put another way, PENN stock has more upside left. Brick-and-Mortar StrugglesUnsurprisingly, brick-and-mortar casino operators have been absolutely hammered since the coronavirus began to spread.Penn's stock has nearly quintupled from the lows, but it is down 29% year-to-date and over 50% from its February highs. Eldorado Resorts (NASDAQ:ERI) has fared far worse, losing two-thirds of its value in 2020. Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN), which have substantial operations in the Chinese enclave of Macau, are off 32% and 43%, respectively.The weakness makes some sense. There's going to be a mid-term impact on the industry. Re-opening plans, for instance, include reduced seats at blackjack tables and fewer slot machines on the gaming floor.Even with those restrictions, many customers won't be comfortable setting foot in casinos for some time to come.Balance sheets amplify that pressure. Penn National closed its first quarter with $2.17 billion in debt net of cash. It pays another $900 million annually in rent to real estate investment trusts, primarily Gaming & Leisure Properties (NASDAQ:GLPI). Penn spun off GLPI back in 2013.Put another way, the 90% decline in PENN stock didn't reflect the market's opinion that the business was worth 90% less. Only the equity. With over $2 billion in net debt, and lease commitments of nearly $9 billion on the balance sheet, the loss of about $2.5 billion in market capitalization from the highs perhaps makes some sense. Sports Betting and iGamingBut Penn isn't just a brick-and-mortar operator anymore. The company is building out its online gambling capabilities in Pennsylvania. Per this week's first-quarter release, the company has added 40,000 customers in that state with reasonably modest marketing spend.And, of course, earlier this year Penn acquired a 36% stake in Barstool Sports. PENN stock soared on that news, as it gave the company a hugely popular brand for its sports betting operations.Investors are enormously optimistic about those businesses at the moment. DraftKings (NASDAQ:DKNG) has more than doubled so far this year. It has a market capitalization nearing $9 billion.GAN Ltd (NASDAQ:GAN) just listed in the U.S. -- and the stock has rallied to $13.50 from an initial public offering price of $8.50. Meanwhile, Flutter Entertainment (OTCMKTS:PDYPY), which owns FanDuel, now is roughly flat year to date.The market is seeing U.S. sports betting, in particular, as a huge opportunity. And legalization may expand more quickly as state governments look to raise revenue. Certainly, in other stocks, investors are buying that thesis. They will likely do the same with PENN stock as well. Muddling ThroughThere are risks. But the fear in March that Penn wouldn't make it through this crisis now seems unfounded.Penn said in the Q1 release that it finished March with $731 million in cash. The average cash burn rate with casinos closed is about $83 million per month.Penn can get to the end of the year even with casinos closed, but some are preparing to reopen. Meanwhile, GLPI is incentivized to keep Penn afloat. Its chief executive officer, Peter Carlino, is part of the family that founded Penn National. Carlino and family trusts still own 4.5% of PENN stock.GLPI already made a deal with Penn to acquire the Tropicana Las Vegas. If need be, it can make more deals to provide cash to Penn or allow the operator to defer rent. The balance sheet is heavy, but fears of near-term bankruptcy fortunately seem minimal. The Long-Term Case for PENN StockThat leaves a solid long-term case. Penn has real drivers in iGaming and sports betting. Brick-and-mortar operations will return to normalcy at some point. The combination suggests at some point that Penn's stock can retake its February highs.With the stock at $18, that still suggests significant upside. Even if it takes a full five years, PENN stock would return about 17% a year. That's a solid return. If the company is a big winner in sports betting, the returns can be even bigger.The balance sheet that pressured the stock on the way down can amplify the gains on the way back up. Indeed, it has done so already. And while the absolute amount of debt and leases is a concern, Penn has plenty of flexibility.The country is going to get back to normal. So will Penn. And as that happens, the bull case that investors loved in February will come back. Over time, the same will be true for the price of Penn's stock.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. Matt does not directly own the aforementioned securities. More From InvestorPlace * America's 1 Stock Picker Reveals Next 1,000% Winner * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post The Rally In Penn National Stock Isn't Over Yet appeared first on InvestorPlace.

Gaming and Leisure Properties, Inc. (GLPI) (“GLPI” or “the “Company”), today announced that it has reached agreements with Penn National Gaming, Inc. (PENN:Nasdaq) (“Penn National”) wherein the Company will acquire the real estate assets of the Tropicana Las Vegas hotel and casino and the land for Penn National’s Morgantown, Pennsylvania development in exchange for an aggregate non-cash rent payment of $337.5 million. The parties will enter into a lease for the Morgantown land which will generate $3 million of initial annual cash rent for GLPI. In addition, Penn National has agreed to engage in an early renewal for both its master leases with GLPI, which extends their current terms by five years, giving GLPI shareholders enhanced visibility of future cash flows.

[Editor's Note: "Even as Penn National Gaming Stock Rebounds, Consider Other Casino Plays" was originally published April 17, 2020. It is regularly updated to include the most relevant information.]Source: Jeffrey J Coleman / Shutterstock.com Should you buy Penn National Gaming (NASDAQ:PENN) stock? Shares have skyrocketed in recent days. With many states allowing casinos to reopen after the novel coronavirus shutdowns, investors are betting on a quick rebound. But, who's to say we'll see a V-shaped recovery at the gaming tables?Casino stocks offer high risk, but high potential returns. Yet, Penn National may not be your best option. Firstly, the company mostly leases the real estate under its casinos. This may have been a smart financial engineering move. But it leaves them fewer liquidity options relative to peers.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSecondly, shares trade at a premium to stronger rivals like Las Vegas Sands (NYSE:LVS) and MGM Resorts (NYSE:MGM). This could make them better ways to play a potential industry rebound, as might VanEck Vectors Gaming ETF (NASDAQ:BJK), which holds all four names in its 42-stock exchange-traded fund portfolio.Also, who knows if the gaming industry will fully recover once the pandemic fades? Given the high-fixed costs of the gaming industry, even a 20% decline in revenue could mean bad news. Especially for weaker names like Penn National.Considering these factors, it may be better to skip out on this "too hot to touch" regional casino play. Let's dive in, and see why PENN stock isn't your "best bet." Surviving CoronavirusCan Penn National survive the coronavirus? When the pandemic first hit America, Wall Street's answer was a resounding "no" as shares fell from above $39 in February to as low as $3.75 in March. Yet, with many states allowing casinos to reopen, shares have rebounded nearly eight-fold, and now trade just under $30 per share.Will shares continue to climb? It's possible. As this Seeking Alpha contributor recently wrote, half of the company's casinos are set to reopen by May 31. This includes properties in Louisiana, Missouri, and Mississippi. Yet, these states are imposing strict social distancing guidelines. This could mean things won't return to 100% for quite some time.But, there's another big risk specific to PENN stock. The company leases, not owns, most of its properties. In fact, the company was a pioneer in the casino REIT (real estate investment trust) trend.In 2013, the company spun off most of its real estate as the first casino REIT, Gaming and Leisure Properties (NASDAQ:GLPI). This transaction allowed them to realize the underlying value of its property. But while this boosted valuation, it left them exposed to heavy lease liabilities.As our own Matt McCall wrote on April 3, Penn National carries $8.5 billion in lease liabilities on its balance sheet. In 2020 alone, the company must make $900 million in lease payments. This wouldn't be a problem if their casinos were generating cash flow. But how about now, when its casinos are sitting idle?Yet, the stock's current valuation doesn't reflect this weakness. In fact, shares now trade at a premium to peers. Richly Priced Relative to RiskThe recent rally in PENN Stock has made shares richly priced. The company's enterprise value/EBITDA (EV/EBITDA) ratio now stands at 14.8. That's a premium to the EBITDA multiples of Las Vegas Sands (11.9) and MGM (12.9).Sure, there may be good reason for this valuation discrepancy. Las Vegas casinos have yet to reopen. This has a larger affect on LVS and MGM stock, as Penn's Vegas footprint is much smaller. But, despite regional casinos opening sooner than resort properties in Vegas, Penn National was on shakier ground financially coming into the pandemic.Granted, Penn's liquidity situation has improved in recent weeks. With the recent $675m equity and convertible debt offering, the company has plenty of capital to ride out the storm.Also, many of their liabilities are leases with GLPI, which could provide the company some rent relief. The spun-off REIT entity has already helped out its former parent, agreeing to buy several properties in exchange for $337.5 million in rent credits.To top it all off, the company may have a growth catalyst in motion that helps them recover even sooner than anticipated. As InvestorPlace's Ian Cooper wrote May 22, the company's investment in Barstool Sports could help them grow their budding sports wagering business. PENN Stock Is Not Your "Best Bet"Upcoming casino reopenings, along with excitement over the company's sports betting catalyst, have led investors to bid up Penn National shares as of late. Should you join in, as it seems the stock could head back to past highs pretty soon?Not so fast! As I highlighted last month, other opportunities could offer a better risk/return proposition. PENN stock? Not so much. In short, this isn't your "best bet" on a casino industry rebound.Thomas Niel, contributor to InvestorPlace, has written single-stock analysis since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's 1 Stock Picker Reveals Next 1,000% Winner * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Even as Penn National Gaming Stock Rebounds, Consider Other Casino Plays appeared first on InvestorPlace.