Penn National Gaming Increases Full Year Guidance

(RTTNews) - Penn National Gaming, Inc. (PENN) announced the company now expects its 2015 adjusted EBITDA to be $771.1 million compared to prior guidance of $754.5 million. Net revenues are expected to be $2.83 billion, compared to previous outlook of $2.79 billion.

The company also issued its fourth-quarter guidance. For the three months ending December 31, 2015, the company expects adjusted EBITDA of $181.6 million, and net revenues of $722.5 million.

For the third-quarter, Adjusted EBITDA was $210.1 million compared to $170.3 million, prior year. Net revenues increased to $739.3 million from $645.9 million. The company said its quarterly results reflect year-over-year improvements in regional gaming trends and the continued success of operating teams in driving improved adjusted EBITDA margins.