Last $15.46 USD
Change Today -0.155 / -0.99%
Volume 767.1K
PENN On Other Exchanges
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As of 12:34 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

penn national gaming inc (PENN) Key Developments

Penn National Gaming Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter Ending March 31, 2015 and for the Year Ending December 31, 2015; Announces Impairment Losses for the Fourth Quarter Ended December 31, 2014

Penn National Gaming Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported adjusted EBITDAR of $171.8 million, adjusted EBITDA of $64.0 million and net loss of $250.4 million or $3.18 per diluted share on net revenues of $651.4 million compared to adjusted EBITDAR of $153.2 million, adjusted EBITDA of $83.7 million and net loss of $888.7 million or $11.40 per diluted share on net revenues of $644.7 million reported a year ago. Loss from operations was $304.686 million compared to $1,045.45 million reported a year ago. Loss from operations before income taxes was $312.6 million compared to $1,120.75 million reported a year ago. For the year, the company reported adjusted EBITDAR of $706.5 million, adjusted EBITDA of $285.1 million and net loss of $233.2 million or $2.97 per diluted share on net revenues of $2,590.5 million compared to adjusted EBITDAR of $776.1 million, adjusted EBITDA of $706.6 million and net loss of $794.3 million or $10.17 per diluted share on net revenues of $2,918.8 million reported a year ago. Loss from operations was $240.42 million compared to $771.97 million reported a year ago. Loss from operations before income taxes was $271.78 million compared to $915.88 million reported a year ago. For the first quarter ending March 31, 215, the company expects to report adjusted EBITDAR of $183.8 million, adjusted EBITDA of $74.6 million and net income of $9.4 million or $0.10 per diluted share on net revenues of $670.6 million. Depreciation and amortization charges in 2015 are expected to be $44.3 million. Interest expense in 2015 is expected to be $11.6 million. Maintenance CapEx for first quarter of 2015 is estimated at $21 million.   For the year ending December 31, 215, the company expects to report adjusted EBITDAR of $739.8 million, adjusted EBITDA of $305.7 million and net income of $41.3 million or $0.46 per diluted share on net revenues of $2,742.3 million. Depreciation and amortization charges in 2015 are expected to be $177.2 million. Interest expense in 2015 is expected to be $57.2 million. GAAP basis effective tax rate for 2015 is currently estimated at 39% and free cash flow before project CapEx and principal repayments of $138 million for the year. Maintenance CapEx for 2015 is estimated at $75 million. For the quarter, the company recorded impairment losses of $316.529 million against $1,060.571 million a year ago.

Penn National Gaming Inc. Appoints Chris Sheffield as Senior Vice President Managing Director I-Gaming

Penn National Gaming has appointed Chris Sheffield as Senior Vice President Managing Director I-Gaming, a newly created position at the Company. Sheffield joins Penn National from Betfred, and will be responsible for setting the Company's strategy as it prepares for the launch of online gaming initiatives across its portfolio. Sheffield will report directly to Timothy J. Wilmott, President and Chief Executive Officer of Penn National Gaming. The appointment is subject to customary regulatory approvals. Sheffield served most recently as Managing Director, Digital at Betfred, which he joined in March 2011, where he led the transformation of betfred.com into one of Europe's fastest-growing gaming businesses. His teams at Betfred also launched mobile sports wagering and mobile gaming products.

Penn National Gaming, Inc. Appoints Chris Sheffield as Senior Vice President Managing Director I-Gaming

Penn National Gaming Inc. announced the appointment of Chris Sheffield as Senior Vice President Managing Director I-Gaming, a newly created position at the company. Mr. Sheffield joins Penn National from Betfred.

Penn National Gaming Inc. to Report Q4, 2014 Results on Jan 29, 2015

Penn National Gaming Inc. announced that they will report Q4, 2014 results at 7:00 AM, US Eastern Standard Time on Jan 29, 2015

Penn National Gaming Inc., Q4 2014 Earnings Call, Jan 29, 2015

Penn National Gaming Inc., Q4 2014 Earnings Call, Jan 29, 2015

 

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