Penn National Gaming (NASDAQ: PENN) reported Q4 EPS of ($0.37), $0.01 better than the analyst estimate of ($0.38). Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.15 billion.

Timothy J. Wilmott, Chief Executive Officer, commented: “I am pleased to report that Penn National beat guidance for the fourth quarter, with improvements across the board in our principal financial metrics. These results were driven by contributions from the Pinnacle acquisition and continued growth in our same-store portfolio of properties.”

“The fourth quarter marked the end of a transformational year for Penn National,” continued Mr. Wilmott. “With the closing of our acquisition of Pinnacle in October, we added over 10,000 new team members and 12 gaming properties to what was already the industry’s leading regional gaming portfolio. In addition, we obtained the approvals for our acquisition of Margaritaville in Bossier City, Louisiana in the fourth quarter, and we announced our acquisition of Greektown Casino-Hotel (“Greektown”) in Detroit, Michigan, which will expand our operating base to 42 facilities in 19 jurisdictions following receipt of all remaining customary approvals. Both transactions are expected to be immediately accretive to operating results upon closing.

GUIDANCE:

Penn National Gaming sees FY2019 EPS of $1.37, versus the consensus of $1.64. Penn National Gaming sees FY2019 revenue of $5.207 billion, versus the consensus of $5.31 billion.

Penn National Gaming sees Q1 2019 EPS of $0.40, versus the consensus of $0.47. Penn National Gaming sees Q1 2019 revenue of $1.3 billion, versus the consensus of $1.32 billion.

For earnings history and earnings-related data on Penn National Gaming (PENN) click here.