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Casino Stock Winners & Losers: The Impact of the Elections


It's still too close to call the outcome of the vote for a casino in Oxford County, Maine. As of Wednesday morning, with more than three-quarters of Maine's precincts reporting, neither side was ready to claim victory.

Maine residents have voted on about six casino initiatives over the past decade, with just one passing. The only initiative that passed was in 2003, which allowed for the creation of a slots parlor adjacent to an affiliated racetrack. This is currently Penn National's Hollywood Bangor facility.

If the Oxford casino is passed it would, most certainly, be a surprise win.

Penn has been one of the biggest opponents of the initiative, helping to finance Citizens Against the Oxford County Casino. The casino in Oxford would be 120 miles away from its Bangor property, and Santarelli predicts it would be a competitive threat, especially in the spring and summer months.

If passed, however, it would allow up to 2,500 slots in the state, and be a positive for equipment manufactures, Santarelli wrote.

"Should table games be permitted, we see a scenario in which Penn National Gaming could benefit from the proposal should it be able to also get table game approvals in time," he continued.
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