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Penn national gaming casinos in las vegas12/20/2023 In addition to the Tropicana, Penn National owns the M Resort in Henderson. “This change has no impact on key indicators of the company’s performance and the third quarter was very active and productive for Penn National,” Wilmott said. Penn National CEO Tim Wilmott said the restatement covers the technical requirements for accounting treatment for the lease of almost two dozen casinos and racetracks from GLPI. Much of the increase was due to the opening of the Plainridge Park Casino in Massachusetts in June and the company’s $360 million purchase of the Tropicana Las Vegas in August. Still, Penn National grew quarterly revenue 14.5 percent to $739.3 million and cash flow 19.6 percent to $210.4 million for the period that ended Sept. As such, Penn National didn’t announced net income or earnings per share when it released its third quarter earnings. The move was recommended by Penn’s outside auditors to change the classification of rent payments to GLPI from an operating lease to a financing obligation. Regional casino operator Penn National Gaming will restate its quarterly financials going back to the November 2013 spinoff of real estate investment trust Gaming and Leisure Partners, the company said Thursday. Penn National Gaming announced an agreement to acquire the Tropicana for $360 million. People walk outside of the Tropicana hotel-casino in Las Vegas on Wednesday, April 29, 2015.
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