Penn National Gaming’s profit fell some 23 percent in the second quarter as lower-than-expected results from its casinos in Indiana, West Virginia and New Mexico drove down results.
The Wyomissing, Pa., casino and racetrack operator, however, remains focused on expanding its presence into Las Vegas.
It reported net income of $28.5 million, or 27 cents a share, for the quarter ended June 30, down from net income of $37 million, or 42 cents a share, a year earlier.
Analysts polled by Thomson Reuters expected a profit of 36 cents per share.
Revenue fell 6.4 percent to $580.8 million from $620.6 million.
Penn National Chairman and Chief Executive Officer Peter Carlino said regional markets, where the company primarily operates, remained stable.
“It is our view that the quarterly property operating performance was generally in line with our expectations,” Carlino said.