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Penn National Gaming beats estimates for both net income and revenue

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WYOMISSING, Pennsylvania — Penn National Gaming Inc. on Thursday reported second-quarter profit of $16.9 million.

The Wyomissing, Pennsylvania-based company said it had profit of 19 cents per share, topping financial analysts' expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The casino operator posted revenue of $701 million in the period, which also beat forecasts. Six analysts surveyed by Zacks expected $678 million.

For the current quarter ending in September, Penn National Gaming said it expects revenue in the range of $728.2 million.

The company expects full-year earnings will come out to 58 cents per share, with revenue expected to be $2.79 billion.

Shares in Penn National Gaming have climbed 40 percent since the beginning of the year and 58 percent over the last 12 months, much higher than the broader market.

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This story has been corrected to show that Penn National Gaming's per-share profit was 19 cents, which beat Wall Street estimates.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PENN at http://www.zacks.com/ap/PENN

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Keywords: Penn National Gaming, Earnings Report

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