Penn National Gaming concludes active quarter
Penn National Gaming Inc on Thursday reported third-quarter earnings of $36.1 million. The Wyomissing, Pennsylvania-based company said it had profit of 38 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The casino operator posted revenue of $789.7 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $807.6 million.
For the current quarter ending in December, Penn National Gaming said it expects revenue in the range of $1.15 billion.
Penn National Gaming shares have fallen 22 percent since the beginning of the year. The stock has decreased 6 percent in the last 12 months.
The company expects full-year earnings to be 90 cents per share, with revenue expected to be $3.58 billion.