Pinnacle Entertainment reports Q4 adjusted EPS 3c, consensus 14c Reports Q4 revenue $301.6M, consensus $306.41M. Reports Q4 consolidated adjusted EBITDA increased $63.3M, though the company said abnormally low table games hold percentage at the company's Louisiana properties negatively affected consolidated adjusted EBITDA in Q4. Management estimates consolidated adjusted EBITDA would have been $3.4M higher had table game hold at these properties been at normal levels.
Gaming and Leisure could pay $42/share for Pinnacle, says JPMorgan JPMorgan believes Gaming and Leisure Properties (GLPI) could raise its offer for Pinnacle Entertainment (PNK) to $42 per share from the current $35.77 consideration. It thinks the offer at $42 would make financial sense for both companies. JPMorgan raised its price target for Gaming and Leisure to $40 from $36 and for Pinnacle to $42 from $36. It keeps Overweight ratings on both names.