- Penn National Gaming (NASDAQ:PENN) reports Q2 revenue ahead of estimates, but EBITDA came in at $219.1M vs. $223M consensus.
- The company cited positive customer visitation and spending per visit during the quarter. CEO Timothy Wilmott says Penn struck the highest percentage of total EBITDA derived from assets and operations not subject to the master lease since the separation of the Penn's operating assets and real estate assets in 2013.
- "With our ongoing focus on driving operating efficiencies and margin expansion, all three of our operating segments generated year over year adjusted EBITDA and margin growth," notes Wilmott.