Penn National Gaming (PENN) Posts Q3 Revs of $739.3M

Penn National Gaming (NASDAQ: PENN) reported Q3 adjusted-EBITDA of $210.1 million, versus guidance of $197.7 million and $170.3 million last year. Revenue for the quarter came in at $739.3 million versus the consensus estimate of $728.95 million.

The results includes the effects of a change in the classification of the Company’s Master Lease with Gaming and Leisure Properties, Inc. from an operating lease to a financing obligation. Reflecting this change in classification, the Company’s reported Adjusted EBITDA for the three months ended September 30, 2015, September 30, 2014 and the guidance for the three months ended September 30, 2015 exclude the impact of rental expense. As a result, the Company’s historical definition of Adjusted EBITDAR will now be equivalent to our current definition of Adjusted EBITDA.

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

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