Penn Entertainment, Inc. News

Analysts favor Caesars move to put key unit into REIT
24 Nov 2014

Fitch Ratings Service said in a report, however, the spinoff won’t prevent Caesars from having to go through bankruptcy reorganization to restructure its $22.8 billion debt.

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Caesars studying placing largest operating division into REIT
20 Nov 2014

Caesars, which has been in talks with banks and lenders in an attempt to restructure its $22.8 billion debt, said the real estate investment trust was one option being discussed.

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AGA making its voice heard on major gaming issues
12 Nov 2014

AGA CEO Geoff Freeman said the AGA should be the group to clear up misconceptions or untruths about a regulated casino industry. That’s what the organization did in Massachusetts, and will do in other markets.

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Pinnacle Entertainment plans to split off casinos into a REIT
7 Nov 2014

If successful — Las Vegas-based Pinnacle said the process could take up to a year to complete — the company will become two publicly traded entities.

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MGM officially awarded Massachusetts gaming license
6 Nov 2014

The process was been put hold until a ballot question that sought to repeal the state’s casino law was decided. On Tuesday, Massachusetts voters overwhelmingly rejected the referendum.

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Bay State voters choose to preserve fledgling casino industry
5 Nov 2014

Massachusetts voters saved the state’s fledgling casino industry Tuesday by overwhelmingly rejecting a ballot referendum that would have tossed a three-year-old gaming law.

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Possible Boyd spinoff into REIT excites investors
5 Nov 2014

Shares of Boyd jumped almost 5 percent in value on the New York Stock Exchange last Friday, the day after the company said it spent $3 million on advisers to evaluate the idea of a REIT.

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Vote to reverse Bay State casinos appears losing — or will it?
3 Nov 2014

By all accounts, a referendum to undo Massachusetts’ casino law should get crushed in Tuesday’s election and lose by 15 to 20 percentage points.

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Boyd Gaming evaluating REIT spin-off
31 Oct 2014

Boyd Gaming CEO Keith Smith said Thursday the company is working with advisors to understand the feasibility of the process.

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REIT sues Cannery Casino Resorts over racetrack casino purchase
29 Oct 2014

Gaming and Leisure Properties, the real estate investment trust spin-off from Penn National Gaming, said Tuesday it was unclear what impact the lawsuit that was filed in New York would have on closing the transaction, which was announced in May.

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Timing right for suitors to pursue Full House
29 Oct 2014

A group of Full House investors, led by former Pinnacle Entertainment CEO Dan Lee, predicts better days for the casino operator if it can remake the board and map out a new direction.

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Penn National sees revenue, profits decline
24 Oct 2014

Penn said its net income for the quarter that ended Sept. 30 was $8.5 million, or 10 cents per share, down from $35.3 million or 34 cents per share a year ago.

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Synectics adds Penn premiers to growing North American gaming portfolio
8 Sep 2014

Two new Ohio Penn National Gaming casinos are the latest additions to the firm’s extensive portfolio.

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Penn National reverses second quarter net loss
25 Jul 2014

This, despite sluggish gaming revenue results from many Southern and Midwestern states in recent months.

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Orange Capital again wants Pinnacle Entertainment to split off REIT
25 Jul 2014

Orange Capital believes Pinnacle’s share price could increase between 60 percent and 90 percent in value if the Las Vegas-based company were to create a REIT.

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