Pinnacle Entertainment Posts Profit In Q4 Amid Revenue Growth - Quick Facts

(RTTNews) - Pinnacle Entertainment Inc (PNK) Wednesday said fourth-quarter net income attributable to the company was $15.01 million or $0.25 per share, compared to a loss of $42.4 million or $0.72 per share last year.

Adjusted income per share was $0.31 while it totaled $0.07 in the prior year period.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Income from continuing operations per share was $0.14 compared to a loss of $0.53 last year.

Total revenues increased to $535.04 million from $254.76 million. Wall Street expected revenues of $539.49 million. The latest results include the operations of Ameristar for the entire quarter.

Anthony Sanfilippo, CEO, said, "The fourth quarter capped a very successful 2013 for Pinnacle Entertainment, a year that was highlighted by the completion of our transformational acquisition of Ameristar Casinos. Since closing the acquisition, we have made substantial progress integrating our businesses.

During 2014, the company expects to spend between $90 million and $110 million on capital expenditures associated with its existing operating properties, corporate initiatives and the Ameristar integration.