Penn National reports 4th quarter financial results
Penn National Gaming Inc., which owns and operates Hollywood Gaming at Mahoning Valley Race Course in Austintown, reported $1.3 billion in revenue for the fourth quarter of 2019, an increase of $185.9 million for the same quarter in 2018.
The company also reported a net loss of $92.9 million and net loss margin of 6.9 percent driven by $173.1 million of impairment losses, compared to a net loss of $42 million and net loss margin of 3.6 percent the prior year.
Adjusted earnings before interest, taxes, depreciation and amortization were $304 million, a decrease of $16.1 million for the quarter.