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Penn banks on social casino expansion following strong Q1

29th April 2016 8:49 am GMT

US racetrack and casino operator Penn National Gaming is aiming to grow its social casino offering and preparing for the opening of its new $390m San Diego property following a 13.9 per cent increase in first quarter revenue.

Revenue for the three months ended March 31st grew to $756.5m, narrowly missing its $756.9m forecast for the quarter. Adjusted EBITDA, meanwhile, exceeded the company’s guidance by 4.3 per cent, increasing 15.5 per cent from $184.4m in Q1 [...]

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