US casino and racecourse group Penn National Gaming has posted an 11 per cent decline in net revenue to $2,590.5m for 2014, in its first full year of operations since the separation of the company’s real estate assets from its operating assets.

Penn National, operator of 26 casinos and racetrack casinos across the US, said that it benefited from a solid performance in the final quarter of the year which saw net revenue climb marginally by 1 per cent to $651.4m.

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