Casinos’ performance up and down
by Wally Northway
Published: October 26,2009
AROUND MISSISSIPPI — Penn National Gaming Inc. reports net revenues for the quarter ended Sept. 30 of $620.4 million, up from $617.9 million during the same period last year. However, net income was well down — $21.4 million during the quarter of this year, compared to $147.5 million during the same quarter a year ago.
Peter M. Carlino, chairman and CEO of Penn National, said, “The challenging economic environment, which has resulted in lower consumer spending at gaming facilities, continued to impact operating results for both the overall industry and Penn National in the third quarter, particularly during the month of August.”
Penn National released the results from its three casino properties in Mississippi — Hollywood Casino Tunica, Hollywood Casino Bay St. Louis and Boomtown Biloxi. Highlights are:
• Hollywood Casino Tunica saw net revenues for this year’s quarter of $23.804 million, compared to $22.346 million during the same period last year. EBITDA was $5.8 million this year, compared to $5.507 million last year.
• Hollywood Casino Bay St. Louis saw net revenues for this year’s quarter of $23.394 million, compared to $25.037 million during the same period last year. EBITDA was $4.753 million this year, compared to $5.286 million last year.
• Boomtown Biloxi saw net revenues for this year’s quarter of $18.333 million, compared to $18.013 million during the same period last year. EBITDA was $4.727 million this year, compared to $4.593 million last year.
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