Penn National Gaming (PENN) Misses Q1 EPS by 3c, Revenues Miss
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Penn National Gaming Reports Record First Quarter Operating Income of $182.4 Million, Net Income of $41.0 Million, and Adjusted EBITDA, After Lease Payments of $183.5 Million
May 2, 2019 7:00 AM EDT- Anticipated Cost Synergies Associated with Pinnacle Transaction Increased to $115 Million -
WYOMISSING, Pa.--(BUSINESS WIRE)-- Penn National Gaming, Inc. (PENN: Nasdaq) (Penn National or the Company) today reported record financial results for the three months ended March31, 2019, initiated 2019 second quarter guidance, updated full year 2019 guidance, and increased its expectations for cost synergies associated with its October 2018 acquisition of Pinnacle Entertainment, Inc.
Timothy J. Wilmott, Chief Executive Officer, commented: Despite weather-related impacts to several properties during the first quarter, were pleased to have met our Adjusted EBITDAR guidance after a one-time adjustment of $3.1... More
