Penn National reports 4Q earnings

WYOMISSING, PA. — Penn National Gaming Inc., the company that owns Hollywood Gaming at Mahoning Valley Race Course in Austintown, reported its fourth-quarter net revenues at $651.4 million, up from $644.7 million in the fourth quarter 2013.

“Despite the still choppy consumer spending environment, our property portfolio performed well in the fourth quarter,” said Timothy J. Wilmott, president and chief executive officer of Penn National in a statement. “Operating results benefited from the first full quarter of contributions from Hollywood Gaming at Dayton Raceway and Hollywood Gaming at Mahoning Valley Race Course, both of which are performing well and consistent with our return-focused expectations.”

The company’s net loss decreased to $250.41 million from $888.75 million in the same quarter last year.

The gaming company reported its 2014 net revenues at $2.590 billion compared to $2.918 billion in 2013.

It expects to see net revenues of $670.6 million in the first quarter of 2015 and $2.742 billion in net revenues for the year.