Penn National Gaming has a market cap of $3.66 billion and an enterprise value of $5.61 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 21.55 and a forward price-to-earnings of 16.88. Its estimated growth rate for this year is 8.5%, and for next year it's pegged at 24%. This is not a cash-rich company, since the total cash position on its balance sheet is $217.43 million and its total debt is $2.18 billion. The CFO just bought 43,000 shares, or about $2.01 million worth of stock, at $46.89 per share. From a technical perspective, PENN is currently trending well above both its 50-day and 200-day moving averages, which is bullish. This stock recently gapped up huge from $37 to $50.50 a share with massive upside volume. Following that move, shares of PENN have been trending sideways with the stock moving between $49 and $45.48 a share. A high-volume move outside of that range soon will likely lead to the next major trend for shares of PENN. If you're in the bull camp on PENN, then I would look for long-biased once this stock manages to break out above some near-term overhead resistance levels at $49 to $50.50 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 890,463 shares. If that breakout triggers, then PENN will set up to re-test to enter new 52-week high territory, which is bullish technical price action. Some possibly upside targets are $55 to $60. International Game Technology One name in the casinos and gaming complex that insiders are snapping up a decent amount of stock in is International Game Technology ( IGT). This company is engaged in the design, manufacture, and marketing of electronic gaming equipment and systems products. Insiders are buying this stock into weakness, since shares are off by 20% so far in 2012. International Game Technology has a market cap of $3.64 billion and an enterprise value of $5.23 billion. This stock trades at a cheap valuation, with a trailing price-to-earnings of 16.01 and a forward price-to-earnings of 10.59. Its estimated growth rate for this year is 16.3%, and for next year it's pegged at 5.8%. This is not a cash-rich company, since the total cash position on its balance sheet is $206.30 million and its total debt is $1.85 billion.