Penn National Gaming has reported a first-quarter loss of $608.6 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Wyomissing, Pennsylvania-based company said it had a loss of $5.26. Earnings, adjusted for asset impairment costs, came to 6 cents per share.

The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The casino operator posted revenue of $1.12 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $1.28 billion.

Penn National Gaming shares have decreased 38% since the beginning of the year. The stock has fallen 19% in the last 12 months.