Pinnacle Purchase Boosts Penn Revenue

In the first full quarter since its $2.8 billion Pinnacle Entertainment acquisition, Penn National Gaming posted revenue of $1.555 billion, up 50.2 percent from $769 million a year ago. Officials said revenue will hit $1.3 billion for first quarter and $5.2 billion by the end of 2020, when Penn, already the industry's largest regional casino operator, expects to operate 42 casinos in 19 states, including Margaritaville (l.) in Bossier City, Louisiana.