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Casinos & Gaming

Penn Gaming posts narrower loss

February 3, 2011 - 10:41 am
 

Regional casino operator Penn National Gaming posted a narrower loss and higher-than-expected revenue for the fourth quarter.

The company on Thursday posted a net loss of $153.1 million, or $1.97 a share, for the three months ended Dec. 31. The results included pretax impairment charges of $193.2 million.

In the same quarter a year earlier, Penn National reported a net loss of $355.4 million, or $4.54 a share.

Revenue rose 13.4 percent to $630.2 million, as business appeared to return to some of the company's regional markets.

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