Penn National Gaming

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    Penn National to buy Pinnacle in $2.8 bln deal

    Penn National Gaming said it will buy Pinnacle Entertainment for $2.8 billion in a cash and stock transaction to diversify geographically and to cut costs. Under the deal, Pinnacle shareholders will receive $20 in cash and 0.42 of a Penn National share for each Pinnacle share owned, implying a total cost of $32.47 a share, […]

    U.S. casinos more insulated from economic pressures than Macau rivals; Bloomberg

    U.S. regional casinos, which focus on stable slot play, have been more insulated from economic pressures than their Macau rivals, according to Bloomberg Intelligence. The revenue stability explains why U.S.-focused casino stocks outperformed their Macau-focused peers, a result of the adverse effect of weak Asia-sourced table-game revenue. U.S.-focused casinos, including Boyd Gaming, Penn National and […]