Penn National Gaming, Inc. (NASDAQ:PENN) – Why Penn National Gaming Shares Are Falling

Penn Nationwide Gaming, Inc. (NASDAQ: PENN) shares are buying and selling considerably decrease after the corporate reported third-quarter earnings per share outcomes have been down 12 months over 12 months.

The corporate reported quarterly earnings of $0.52 per share. It is a 44.09 p.c lower over earnings of $0.93 per share from the identical interval final 12 months.

“Whereas July was a document month, the second half of August and September was impacted by Hurricane Ida and regional flare-ups of the Delta variant, which lowered property Adjusted EBITDAR and Adjusted EBITDAR margins by an estimated $30 million and 85 foundation factors, respectively,” mentioned Jay Snowden, President and Chief Govt Officer

Penn Nationwide Gaming, along with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals.

Penn Nationwide Gaming’s inventory was buying and selling about 19.4% decrease at $58.63 per share on Thursday on the time of publication. The inventory has a 52-week excessive of $142 and has a 52-week low of $58.02.

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