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: S&P 500 bets on Penn National Gaming and Caesar’s in index reshuffle

Economy, Finance

Penn National Gaming Inc. PENN will join the S&P 500 index SPX along with three other companies, S&P Indices announced Friday. Penn, which has seen its stock rise more than 700% in the past year amid further legalization of sports betting and its acquisition of popular sports website Barstool, will join the index along with another gambling concern, Caesars Entertainment Inc. CZR NXP Semiconductors NV NXPI will replace Flowserve Corp. FLS in the index, with Flowserve dropping down to the S&P MidCap 400. Penn, Caesar’s and Generac Holdings Inc. GNRCwill push SL Green Realty Corp. SLG, Xerox Holdings Corp. XRX and Vontier Corp VNT down to the S&P MidCap 400. The changes are scheduled to take place before the start of trading on March 22. Check back for updates.

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