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PNK

Pinnacle Entertainment, Inc.

5/25/2013, 6:52 AM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 17, 9:16 AM Pinnacle Entertainment (PNK) announces that the Nevada Gaming Commission approved its acquisition of Ameristar Casinos (ASCA). The company say the transaction will close in either Q2 or Q3 of this year. Comment! [Consumer]
Wednesday, May 1, 8:23 AM Pinnacle (PNK): Q1 EPS of $0.25 beats by $0.07. Revenue of $312.6M (+6.7% Y/Y) misses by $4.19M. (PR) 1 Comment [Earnings, Breaking News]
Friday, April 26, 7:56 AM It won't be seen on the transcript (read it here), but Steve Wynn seemed to literally slam the table as he brought home the point during Wynn Resorts' (WYNN) earnings call that regional casinos are nothing but "boxes of slots." The exec is convinced that the premium Wynn experience will play well in new markets such as Boston and Philadelphia where the firm is vying for licenses to pressure regional operators. The burning sector question: How much of a hit will regional casino operators (PENN, MCRI, ASCA, ISLE, BYD, CNTY, PNK) take as big Vegas companies expand more into their turf? 1 Comment [Consumer]
Friday, April 12, 2:58 PM Pinnacle Entertainment (PNK +6.8%) rises on a Deutsche Bank upgrade to Buy and a new price target of $23. The bank cites an underappreciated cash flow profile and "an undemanding valuation in the face of potential multiple expansion scenarios," to justify the notion that PNK has the "best risk-reward" of any regional gaming company. Comment! [On the Move]
Wednesday, April 10, 10:17 AM Casino stocks (BJK) are reacting to a report from the Nevada Gaming Control Board that revenue on the Las Vegas Strip rose 31.7% Y/Y in February to $696M. The news helps take much of the sting off of the poor performance for January. (full gaming win report .pdf) 3 Comments [Consumer]
Thursday, April 4, 8:58 AM Gaming companies in Nevada are asking the state legislature to restrict the growth of strip mall slot machine parlors and sports betting kiosks as the proliferation of smaller gambling outlets starts to threaten the casino model. The big picture: Though they still hold most of the cards, look for intensified lobbying from casino execs as online ventures and looser gambling laws continue to chip away at the industry. Comment! [Consumer]
Friday, March 22, 1:20 PM Is casino growth tapped out in the U.S? Documents filed in the bankruptcy case of Atlantic City's Revel estimates the casino property is now worth only $246M-$331M after costing close to $2.4B. The development follows other news from regional players across the U.S. of casino companies taking market share from each other as saturation becomes a factor. Another fly in the ointment for future brick-and-mortar growth is the tantalizing prospect for online gambling. 15 Comments [Consumer]
Tuesday, March 12, 9:01 AM Pinnacle Entertainment (PNK) is initiated as a Buy at Craig-Hallim with a price target of $19. The regional casino operator's risk profile looks a bit more attractive after it decided to sell a site in Atlantic City instead of developing it. Comment! [Consumer]
Friday, February 22, 9:40 AM Casino stocks (BJK) show mild gains after Nevada approves a bill to institute online gambling. Though a positive for Vegas-centric companies and a negative for Jersey-centric players, until the parameters of online gambling are better defined it will be hard to separate the winners from the losers. Comment! [Consumer, On the Move]
Wednesday, February 13, 8:06 AM Pinnacle (PNK): Q4 EPS of $0.03 misses by $0.12. Revenue of $301.6M misses by $5.8M. (PR) Comment! [Earnings, Breaking News]
Wednesday, January 23, 10:59 AM Senator Harry Reid promises he will try to push through an online poker bill in 2013 after his efforts last year fell flat. The window is opening again because opponents of other broader forms of online gambling see legislation to let poker online as a small concession. If Reid can "thread the needle" with Congress and governors it could be a win-win for casinos which can generate poker sales online while also protecting brick-and-mortar operations from a landscape of rampant online gambling. 5 Comments [Consumer]
Thursday, January 10, 10:59 AM A reported weak November for casino operators on the Las Vegas Strip could be followed up by a dicey December as well, warns gaming analysts. Discretionary consumer spending as a whole looks to have weakened during the month as the fiscal cliff drama played out. In a revealing trend, hotel and amenity revenue held up a bit better in Vegas than the double-digit pace of losses seen on table games and slot machines. Comment! [Consumer]
Wednesday, January 2, 10:33 AM Casino stocks trade higher after Macau numbers come in strong enough to keep optimism humming right along. With U.S.-based gaming companies such as Boyd Gaming (BYD +4.5%), Penn National Gaming (PENN +3%), and Pinnacle Entertainment (PNK +4.2%) also showing strength, it might appear that a fiscal cliff relief rally could also be in play if it wasn't for the strong December already put in by the group. 2 Comments [Consumer, On the Move]
Thursday, December 27, 2012, 1:29 PM Pinnacle Entertainment (PNK +0.8%) bucks a weak tape after being raised to Hold at Union Gaming Group. The upgrade comes on the back of the gaming company's all-cash deal last week to buy Ameristar Casinos (ASCA) for $869M. Comment! [Consumer, M&A]
Friday, December 21, 2012, 12:45 PM Midday top 10 gainers: HALO +27%. CEMI +24%. ASCA +20%. FCFC +18%. PNK +17%. ABCD +14%. ATAI +12%. BONA +11%. WWAY +9%. IKAN +9%.
Midday top 10 Losers: CT -52%. ALX -26%. RIMM -21%. EDMC -19%. MSON -17%. ECTE -17%. HLF -14%. OPXA -13%. MHH -12%. AMPL -11%. 3 Comments [On the Move]
Friday, December 21, 2012, 9:10 AM Premarket gainers: HALO +19%. CEMI +17%. ASCA +17%. APPY +14%. RHT +5%. PNK +5%. SHP +5%.
Losers: ECTE -18%. RIMM -14%. ALU -7%. 1 Comment [On the Move]