Penn National Gaming stays upbeat, reports increased revenue for 2015

Penn National Gaming had a “productive 2015,” saying the U.S. casino operator grew its revenue and cash flow in the last quarter of the year. However, the company has yet to release any net income figures for the year, saying it needs to restate its financial statements.

In a release that accompanied the limited financial data for 2015, Penn Gaming said revenue last year reached $2.84 billion, which is a 9.7 percent higher compared to 2014’s $2.59 billion. The company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for 2015 was $795.7 million, an increase of 12.2 percent from the adjusted EBITDA of $709.3 million in 2014.

Penn Gaming’s consolidated cash flow for the last quarter of 2015 also grew 20 percent to $206.2 million.

CEO Tim Wilmott said 2015 was an “active” year for the casino giant, which operates more than 20 gaming facilities in the United States and Canada. Last year, Penn Gaming acquired Tropicana Las Vegas, one of the last Rat Pack-era casino resorts on the Strip, for $350 million. In addition, the operator also opened a race track casino in Massachusetts and bought an Illinois-based video lottery terminal company.