Revenue Update on Pinnacle Entertainment Inc(NYSE:PNK)

Pinnacle Entertainment Inc(NYSE:PNK) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $566.23M. Analysts estimated a revenue of $576.82M. Earnings per share were $-0.35. Analysts had estimated an EPS of $0.03.

Pinnacle Entertainment Inc (PNK) shares turned negative on Wednesdays trading session with the shares closing down -0.11 points or -0.95% at a volume of 9,50,258. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.785. The peak price level was also seen at $11.785 while the days lowest was $11.31. Finally the shares closed at $11.46. The 52-week high of the shares is $11.9 while the 52-week low is $9.72. According to the latest information available, the market cap of the company is $655 M.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Anthony Michael Sanfilippo (CEO) purchased 153,500 shares at $11.11 per share price.Also, On Jun 15, 2016, Troy A Stremming (EVP, Gov’t Relations) purchased 15,000 shares at $11.40 per share price.On Jun 7, 2016, Carlos Ruisanchez (CFO) purchased 30,000 shares at $11.02 per share price, according to the Form-4 filing with the securities and exchange commission.

Pinnacle Entertainment Inc. (Pinnacle) is an owner operator and developer of casinos and related hospitality and entertainment facilities. The key properties in the Company’s Midwest segment include Ameristar Council Bluffs Ameristar East Chicago Ameristar Kansas City Ameristar St. Charles Belterra River City and Belterra Park. The key properties in the Company’s South segment include Ameristar Vicksburg Boomtown Bossier City Boomtown New Orleans L’Auberge Baton Rouge and L’Auberge Lake Charles. The key properties in the Company’s West segment include Ameristar Black Hawk and Cactus Petes and Horseshu. The Company owns and operates around 15 gaming entertainment properties in Colorado Indiana Iowa Louisiana Mississippi Missouri Nevada and Ohio. It also holds a majority interest in the racing license owner as well as a management contract for Retama Park Racetrack located outside of San Antonio Texas.

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