(RTTNews) – PENN Entertainment, Inc. (PENN), on Thursday reported net loss that narrowed in the fourth quarter compared with the previous year.
For the fourth quarter, net loss attributable to the company narrowed to $73 million from $133.3 million in the previous year.
Loss per share was $0.55 versus $0.88 last year.
Adjusted earnings per share were $0.07 versus loss per share were $0.44 last year.
Adjusted EBITDA increased to $225.8 million from $165.2 million in the previous year.
Operating loss narrowed to $17.5 million compared with $48.1 million in the prior year.
Revenue increased to $1.81 billion from $1.67 billion in the previous year.
The company said that the segment adjusted EBITDAR is expected to grow approximately 20% year over year, supported by retail expansion projects, anniversary supply benefits, and improved performance in the Interactive segment, which is projected to reach break-even adjusted EBITDA.
In the pre-market trading, PENN Entertainment is 6.70% higher at $13.38 on the Nasdaq.
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