New racino exceeding income expectations, company officials say
WYOMISSING, Pa.
Penn National Gaming Inc. said its revenues were $645.9 million for the third quarter, beating projections of $633.5 million.
The numbers reflect company activity between July 24 and Sept. 30.
Penn National officials hosted a conference call Thursday morning to talk about the latest figures.
Jay Snowden, chief operating officer of Penn National, said Hollywood Gaming at Mahoning Valley Race Course in Austintown Township “has shown a strength beyond our forecast.” He also said, “Mahoning Valley has been a really impressive story as we close out September ... [and] looks good again as we follow up on a strong opening.”
While officials have been happy with the opening and performance so far, they were quick to taper those thoughts with the fact that the facility has been open only a handful of weeks. Officials also said Hollywood Gaming’s performance so far has not changed the forecast of the market here.
Timothy J. Wilmott, president and chief executive of Penn National Gaming, made statements early Thursday in a news release on the quarterly numbers.
Read more of his remarks in Friday's Vindicator or on Vindy.com.