Operator
Greetings and welcome to the Penn National Gaming fourth-quarter conference call. [Operator instructions] I would now like to turn the conference over to Mr. Joe Jaffoni, investor relations. Please go ahead.
Joe Jaffoni
Investor Relations
Thank you, Frank. Good morning, everyone, and thank you for joining Penn National Gaming s 2020 fourth-quarter conference call. We ll get to management s presentation and comments momentarily as well as your questions and answers. But as always, I ll first review the Safe Harbor disclosure.
In addition to historical facts or statements of current conditions, today s conference call contains forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995 which involve risks and uncertainties. These statements can be identified by the use of forward-looking to terminologies such as expects, believe, estimates, projects, intends, plans, seeks, may, will, should, or anticipate, or the negative other var
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One of the biggest trends of 2020 in markets has been the stunning explosion in stock trading among amateur investors.
It has been a phenomenon seen on both sides of the Atlantic and has been driven largely by millennials.
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In the US, meanwhile, the trend has been even more pronounced.
There are a couple of reasons for this.