Revenues for the three months to June will range between $1.45bn-$1.55bn while adjusted EBITDAR will be between $540m-$580m. At the midpoint for each they represent growth of 18% and 25% respectively and an adjusted EBITDAR margin improvement of 220bps.<\/p>\n
Compared to Q219 the company expects revenue, Adjusted EBITDAR and Adjusted EBITDAR margin to increase by 10%, 32%, and 625bps.<\/p>\n
Penn is mightier:<\/strong> Penn National took the opportunity of the news of a $400m senior secured notes cash raise to pre-announce its second-quarter figures which it said demonstrated continued strong demand trends, but also underscores its ability to drive sustainable margin improvement. The numbers were impressive enough to have the analysts salivating.<\/p>\n \u201cWhile we feel it is prudent to assume the stimulus and pent-up demand will normalize eventually, there are substantial structural cost savings and long-term revenue opportunities that provide a compelling case for continued growth,\u201d said Union Gaming.<\/em><\/p><\/blockquote>\n Summer loving: <\/strong>The numbers were no surprise in light of the various improvements seen in the monthly figures from the gaming states for April and May. Macquarie said they believe GGR has grown by 14% and 10% in each month respectively. Pointing to the similar Q2 pre-announce from Everi<\/a> earlier this week, they suggest the rest of the gaming sector will generate similar types of sequential growth. \u201cWith vaccination rates improving and younger customers still enjoying the gaming experience, we continue to expect trends to remain strong throughout the summer,\u201d they added. The Deutsche Bank team, meanwhile, returned from a Vegas road trip enthused about what they saw. \u201cThe tone of our meetings with operators was upbeat, with few if any caveats of potential caution over the near term,\u201d they suggested.<\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The top line Revenues for the three months to June will range between $1.45bn-$1.55bn while adjusted EBITDAR will be between $540m-$580m. At the midpoint for each they represent growth of 18% and 25% respectively and an adjusted EBITDAR margin improvement of 220bps. Compared to Q219 the company expects revenue, Adjusted EBITDAR and Adjusted EBITDAR margin […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[337,342,324],"tags":[587,729,640,726,664,728,727,613,657],"class_list":["post-1848","post","type-post","status-publish","format-standard","hentry","category-analyst-notes","category-events","category-news","tag-587","tag-fanatics","tag-fanduel","tag-jefferies-digital-gaming-summit","tag-kambi","tag-king","tag-mgm-resorts","tag-penn-national","tag-sports-illustrated"],"_links":{"self":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/comments?post=1848"}],"version-history":[{"count":2,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1848\/revisions"}],"predecessor-version":[{"id":1851,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1848\/revisions\/1851"}],"wp:attachment":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/media?parent=1848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/categories?post=1848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/tags?post=1848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Check out these additional articles available today on Earnings + More:<\/h3>\n
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