{"id":30570,"date":"2016-11-02T10:04:54","date_gmt":"2016-11-02T10:04:54","guid":{"rendered":"http:\/\/www.gaming-awards.com\/NEWS\/?p=30570"},"modified":"2016-11-02T10:04:54","modified_gmt":"2016-11-02T10:04:54","slug":"q3-earnings-revenues-in-nevada-increase","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/q3-earnings-revenues-in-nevada-increase\/","title":{"rendered":"Q3 Earnings: Revenues in Nevada Increase"},"content":{"rendered":"

\"Las<\/a>Penn National Gaming announced earnings of 51 cents per share, which surpassed all expectations; and in a major way. Zacks Consensus Estimate had predicted only 27 cents for the quarter, so results were 89% better than the forecasted earnings. Net revenues were also higher, increasing by 3.6% year-on-year to $765.6 million. These were also better than what the management hoped to achieve. They have also set their sights on revenues of $748.3 million for the fourth quarter of 2016, which ends in December. Earnings per share for the whole year are expected to be in the region of 99 cents to $1.08, with revenues around $3.04 billion. Although their stock is trading at 26% down from October last year, they have shortened the deficit to 18%, if you look at where they stood in January 2016.<\/p>\n

Monarch Casino & Resort\u2019s third-quarter reported earnings of 45 cents per share for Q3 of 2016. This too was better than the Zacks Consensus Estimate by 15% (the prediction was 39 cents per share). Year-on-year earnings for the company increased by 21.6%. Their revenues were at $57.1 million, which beat the Estimate by more than 2%. Their year-on-year revenues rose by 6.6% at their Monarch Casino Black Hawk and Atlantis casinos. Non-gambling revenues, such as from food & beverages and hotels, too saw a rise.<\/p>\n

Earnings per share of 89 cents was expected from Churchill Downs, but they announced only 52 cents, which is still a 30% year-on-year increase. Their revenues (including from Big Fish Games, which they acquired in December 2014) were $303 million, an 8.4% rise year-on-year.<\/p>\n

The Nevada Gaming Control Board summarized the performance of all operators by mentioning an increase in gambling revenues by 3.6% to $949 million for September 2016. This comes off the back of a fall in August 2016, after stellar performances in June and July. The Las Vegas Strip, which rakes in more than half of Nevada\u2019s gambling revenues, saw an improvement of 7.5% in September 2016 compared to the same month last year. For Reno, it was only 1.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Penn National Gaming announced earnings of 51 cents per share, which surpassed all expectations; and in a major way. Zacks Consensus Estimate had predicted only 27 cents for the quarter, so results were 89% better than the forecasted earnings. Net revenues were also higher, increasing by 3.6% year-on-year to $765.6 million. These were also better […]<\/p>\n","protected":false},"author":5,"featured_media":24753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,18],"tags":[],"class_list":["post-30570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-n-america"],"yoast_head":"\nQ3 Earnings: Revenues in Nevada Increase - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/q3-earnings-revenues-in-nevada-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q3 Earnings: Revenues in Nevada Increase - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Penn National Gaming announced earnings of 51 cents per share, which surpassed all expectations; and in a major way. Zacks Consensus Estimate had predicted only 27 cents for the quarter, so results were 89% better than the forecasted earnings. Net revenues were also higher, increasing by 3.6% year-on-year to $765.6 million. 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