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Recent transactions have put two St. Louis-area casinos in different hands and brought ownership of the real estate underlying all but one of the regional gaming facilities under a single company.
The Ameristar Casino Hotel Kansas City, as well as three other Pinnacle Entertainment Inc. properties, are expected to become part of Las Vegas-based Boyd Gaming Corp.
The U.S. Federal Trade Commission on Monday approved casino operator Penn National Gaming Inc's $2.8 billion purchase of Pinnacle Entertainment Inc, requiring they divest assets in three Midwestern cities. The FTC said the companies should sell casino-related assets in Cincinnati, St. Louis and Kansas City, Missouri, to Boyd Gaming Corp. The cash-and-stock deal, which would cement Penn National's position as the leading U.S. regional gaming operator, was announced in December.
Macau's gaming revenues in September are likely to be impacted Typhoon Mangkhut. MGM Resorts to buy Rocksino from MGM Growth Properties.
Macau gambling sales rises in August. Meanwhile, Penn National was given a green signal by Missouri Gaming Commission for the pending buyout of Pinnacle Entertainment.
The daily bar chart below shows that PNK's sideways movement has brought it near the rising 200-day moving average line. Prices are below the declining 50-day moving average line, and the daily On-Balance-Volume (OBV) line shows a May peak. This weekly bar chart shows a mixed picture for the stock.
Moody's Investors Service today confirmed the Ba3 Corporate Family Ratings for both Penn National Gaming, Inc. ("Penn") and Pinnacle Entertainment, Inc. ("Pinnacle"). Both companies were placed under review for downgrade on December 19, 2017 following the announcement that Penn will acquire Pinnacle in a cash and stock transaction valued at approximately $2.8 billion. Penn's and Pinnacle's Ba2 senior secured and B2 senior unsecured ratings were also confirmed.
Pinnacle Entertainment (PNK) delivered earnings and revenue surprises of -17.14% and -1.53%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Las Vegas-based company said it had net income of 35 cents. Earnings, adjusted for pretax gains, came to 29 cents per share. The results missed Wall Street expectations. The average ...
Penn National's (PENN) top line is favored by a strong brand and acquisition strategies. Sincere margin-improvement initiatives also bode well for the company.
This is notable to REIT investors for multiple reasons. First, higher interest rates (both short-term and long-term) mean that bank CD’s and other lower-risk income investments are offering higher competitive yields. Of equal note, is the fact that rising long-term interest rates are now factoring into higher discount rates for fundamental valuation models.
The American Gaming Association is out with a new report that says legal sports betting is projected to generate an additional $4.2 billion dollars for the NFL, MLB, NHL, and NBA every year. Yahoo Finance's Seana Smith, Adam Shapiro, and Dan Roberts discuss along with Third Seven Advisors chief strategist Michael Block.
Harry Curtis of Nomura Instinet joins 'Power Lunch' to discuss the impact rising rates have on casino stocks and China-U.S. trade tariffs.
The Washington Capitals capture their first Stanley Cup, but Vegas is the real winner. Yahoo Finance's Seana Smith, Jen Rogers and Pras Subramanian discuss.
The Miss America pageant is updating its rules in the #MeToo era. Yahoo Finance's Seana Smith, Julia LaRoche, Pras Subramanian, and Rick Newman discuss.