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Pinnacle sees 51 per cent rise in 2Q revenue
Las Vegas-based casino operator Pinnacle Entertainment has reported second quarter revenue of US$228.8m (£121m, 179m euro), a 51 per cent jump from US$151.5m (£80m, 118m euro) last year.
The company saw net income rise to US$46m (£24m, 36m euro) after receiving US$48.8 (£26m, 38m euro) in proceeds when a merger deal with rival operator Aztar fell through.
Adjusted earnings before interest, tax, depreciation and amortisation increased by 80 per cent to US$54.5m (£29m, 43m euro) from US$30.2m (£16m, 24m euro) for the same period the year before.
Daniel Lee, chair and CEO, said: “We’re pleased with our results for the second quarter, which were driven by strong results at Boomtown New Orleans and solid levels at L’Auberge du Lac in Lake Charles, Louisiana.
“We remain focused on profitable expansion, as well as improving operations at our existing properties.” Details: www.pnkinc.com
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