US racetrack and casino operator Penn National Gaming has reported a 4 per cent increase in net revenue to $765.6m for the third quarter of 2016, with more than half of the total derived from its Northeast US casino business.
Revenue and adjusted EBITDA both came in slightly below the company’s previous guidance, with Penn National noting that shortfalls at certain casino properties were mostly offset by lower corporate overhead and stock-based compensation expenses, and initial contributions [...]
