Penn Gaming posts narrower loss
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.