Penn National Gaming reloads buyback program

|About: Penn National Gaming, Inc. (PENN)|By:, SA News Editor

Penn National Gaming (PENN +3%) approves a new $200M share repurchase program set to expire at the end of 2020.

The company says the two-year authorization is incremental to its existing share repurchase program, which is set to expire in February.

"The new authorization reflects our confidence in the company's growing free cash flow from operations and is consistent with our historical practice of providing management the flexibility to allocate capital to share repurchases, debt reduction, and/or accretive transactions," says CEO Timothy Wilmott.

Source: Press Release

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