Penn National Gaming’s portfolio diversity allowed it to better weather the COVID-19 storm. Snowden told investors and analysts that no single state accounts for more than 15 percent of its revenue, and that has “proven to be a significant benefit.”<\/p>\n
\nWe believe the company is uniquely well-positioned to benefit from the recent strength in regional gaming markets,”<\/strong> added the CEO.<\/p>\n<\/blockquote>\nSnowden also said the company is investing in new technologies that reduce reliance on physical cash inside its casinos. The company is working alongside state regulatory agencies on implementing such technologies.<\/p>\n
Along with providing a financial update, Penn National revealed Thursday that it would be extending medical benefits to all furloughed workers through the end of the month.<\/p>\n
Penn National has additionally set aside $1.7 million for the company’s COVID-19 Emergency Relief Fund. More than 1,000 employees have received financial assistance through the program.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Penn National Gaming (NASDAQ: PENN) soared today after the regional casino giant revealed its second quarter revenue easily beat analyst estimates. April through June revenue totaled $305.5 million, topping the consensus forecast of $249.1 million. Penn reported a quarterly loss of $1.69 per share, also far better than the $2.06 loss per share […]<\/p>\n","protected":false},"author":25,"featured_media":143989,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Penn National Stock Surges After Quarterly Revenue Beats Expectations<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n