Penn National acquires Score Media & Gaming
Penn-Score acquisition + Q2 The top line Penn National is buying Toronto-listed Score Media & Gaming for $2bn in cash and shares. The deal will complete in Q122. Penn said it expects the deal to add c$200m in EBITDA within two years and $500m-plus at maturity. As per the pre-announced earnings last month, Q221 revenue […]
Money burns a hole in MGM’s pocket
MGM Resorts International Q2 The top line The rise in net revenue to $2.27bn represented a near 700% bounceback on Q220. Consolidated Adjusted EBITDAR hit $617m, a record helped by record margins of just below 40%. Regional lead the way up 859% to $856.3m while Las Vegas was up 566% to $1bn. MGM China reported […]
Wynn fires cannon on online Austerlitz deal
Wynn The top line Operating revenues fell 23.9% to $725.8m ($953.7m Q120) and net loss was $281m or $2.53 per diluted share, compared with a loss of $402m or $3.77 per diluted share, in Q120. Adjusted EBITDA at the group’s resort properties increased $17.2m, $50.2m and $43m at Wynn Palace, Las Vegas, and at the […]