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Stock Market & Financial Investment News

News Breaks
February 6, 2014
07:19 EDTPENN, GLPIPenn National sees Massachusetts Gaming Commission decision later this monthGaming and Leisure Properties
Penn National (PENN) said, “Later this month, we expect a decision from the Massachusetts Gaming Commission regarding our application for the state’s sole Category 2 gaming license...We look forward to the Massachusetts Gaming Commission’s decision later this month and believe we are the best suited among the three competitors for the license to maximize revenue to the state on a near- and long-term basis. In this regard, if selected, and at the Gaming Commission’s discretion, Penn National Gaming is prepared to open a temporary facility as early as the third quarter of this year with the permanent facility opening planned for the first half of 2015...in Pennsylvania, we have a proposal being considered by the Pennsylvania Gaming Control Board for a new gaming and entertainment destination in Philadelphia, where we are one of five applicants. We are also working on the development of an integrated racing and gaming facility in Lawrence County, near Pittsburgh, the last of the Category 1 sites in Pennsylvania. A decision on the Philadelphia proposal is expected in the second quarter of 2014. If selected, GLPI is committed to provide funding for certain parts of both of these projects."
News For PENN;GLPI From The Last 14 Days
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July 2, 2015
08:57 EDTPENNPenn National Plainridge casino expectations too high, says Morgan Stanley
Morgan Stanley believes Penn National Plainridge Park casino consensus expectations for $250M revenue and $60M EBITDA in 2016 are too high. The firm said other city property openings within proximity suggest lower win, unit and spend, and will likely face capacity issues. Morgan Stanley rates Penn National an Underweight with a $15 price target and says risk/reward is unfavorable.
June 26, 2015
09:32 EDTPENNNevada reports May Statewide gaming win up 3.33% to $1.0B
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June 24, 2015
09:13 EDTPENNPenn National’s Plainridge Park Casino debuts as Massachusetts’ first casino
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