ADVFN - Advanced Financial Network.
HOME» NASDAQ » P » PENN Stock Price » PENN Stock News

Penn National Share News

 Penn National Gaming (mm) Stock Price
PENN Stock Price
 Penn National Gaming (mm) Stock Chart
PENN Stock Chart
 Penn National Gaming (mm) Stock News
PENN Stock News
 Penn National Gaming (mm) Company Information
PENN Company Information
 Penn National Gaming (mm) Stock Trades
PENN Stock Trades

Penn National Buys M Resort Debt For $230.5 Million

DOW JONES NEWSWIRES Penn National Gaming Inc. (PENN) said it has bought the debt backed by the M Resort, an off-the-strip resort and casino near Las Vegas, for $230.5 million. The casino operator has been expanding its operations using its strong cash flow. It has performed relatively well even though reduced consumer spending has brought prolonged suffering to the sector, Moody's Investors Service said Monday. Penn National early this year weighed the possibility of taking control of the Fontainebleau Las Vegas, a stalled casino hotel development on the Las Vegas Strip. The company said Friday it purchased the bank debt on the entity that owns the property, as well as $160 million of subordinated debt, from Bank of Scotland PLC, a unit of Lloyds Banking Group PLC (LYG, LLOY.LN). The subordinated debt was formerly held by MGM Resorts International (MGM). The resort, on the south side of the city, opened last year just as visitation to the area was slumping. It features 390 rooms and more than 92,000 square feet of gambling space. The property represents Penn National's first major investment in the Las Vegas area. Penn National shares closed Thursday at $30.86 and were inactive premarket. The stock has gained 14% this year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Penn National (PENN)
DateTimeHeadline
11/15/201309:19:39Omega Advisors 3Q 13F: Largest Purchases
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:09AQR Capital Management 3Q 13F: Largest Purchases -2-
11/15/201307:11:09AQR Capital Management 3Q 13F: Largest Purchases
11/15/201306:57:24Millennium Management 3Q 13F: Holdings As Of Sep -2-
11/15/201306:57:23Millennium Management 3Q 13F: Holdings As Of Sep 30
11/14/201307:21:25GAMCO Asset Management Inc. 3Q 13F: Largest -2-
11/14/201307:21:24GAMCO Asset Management Inc. 3Q 13F: Largest Sales
10/03/201306:53:30U.S. Hot Stocks Futures: Hot Stocks to Watch
07/23/201309:40:11U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
11/05/201215:26:25Healthcare, Financials, Defense Stocks in Play as Voters Head...
08/06/201217:50:25Caesars Loss Widens on Macau Write-Down, Flat Revenue
07/16/201215:24:19EARNINGS PREVIEW: U.S. Casinos' Comeback Slows
04/17/201212:27:35EARNINGS PREVIEW: Casinos Reap Benefits From More Visits
01/26/201212:31:20EARNINGS PREVIEW: Casinos' Growth Still On A Streak
07/14/201110:46:03EARNINGS PREVIEW: US Casinos Find Big Money Still In Macau
04/14/201115:29:05EARNINGS PREVIEW: Large US Casinos Look For Demand, Macau Strength
01/31/201112:46:34EARNINGS PREVIEW: Large US Casinos Likely Did Well in 4th Q
10/08/201008:05:13Penn National Buys M Resort Debt For $230.5 Million
04/29/201013:54:13EARNINGS PREVIEW: Improved Results Seen At Large US Casinos

Penn National Gaming and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad