The global pandemic hit the gambling industry especially hard. Casinos were forced to shutter, sporting events to bet on were temporarily halted, and the industry suffered immensely as a result.
Companies like Penn National Gaming (NASDAQ:PENN) and MGM Resorts International (NYSE:MGM) were not spared from this trend. Still, Penn National Gaming looks to be far better positioned for success going forward, and is the better buy. Here’s why.
Ideal casino portfolio
A key edge Penn National Gaming enjoys over MGM is the regional make-up of its brick-and-mortar business. Penn boasts the largest (and most geographically diverse) regional casino portfolio in the nation, with 41 properties across 19 states.
Why does this matter? As MGM’s Las Vegas Strip and Macau customers tend to be more global, they also tend to fly to MGM’s properties. Conversely, Penn’s regional casinos are predominantly drive-to properties — quite ideal as the