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StumblePinnacle Entertainment reports loss in third quarter
Thursday, Oct. 29, 2009 | 10:25 a.m.
Pinnacle Entertainment today reported a net loss of $2.19 million, or 37 cents per share, during the third quarter compared to a loss of $11.8 million, or 20 cents per share, a year earlier, the Las Vegas-based casino operator said today.
Quarterly results included an $8.8 million charge related to repayment of debt, Pinnacle said in its third quarter earnings report.
Revenue for the third quarter held steady at $265 million compared to $263 million in the same period of 2008.
Gaming revenue was $227.4 million during the quarter compared to $222 million during the same period last year.
Revenue at Pinnacle’s Boomtown Reno was $11.5 million in the third quarter compared to $14.9 million in the same period of 2008. The company said the decline was a result of additional competition from California’s tribal casinos and a decline in general economic conditions.
Pinnacle Entertainment operates seven casinos in Nevada, Missouri, Indiana, Louisiana and Argentina.
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PNK is a good company. Just don't tell the folks in AC that!
"The company said the decline was a result of additional competition from California's tribal casinos......." : (
Yes thank you Guru, I have had enough from this firm. Hopefully that property will be developed sometime in the future, it was such a las vegas demolition too. What a shame.