In a new report out this week, Barclays analyst Felicia Hendrix discussed the Q2 performance of regional U.S. gaming companies Penn National Gaming Inc PENN 0.76%, Pinnacle Entertainment Inc PNK 0.32% and Boyd Gaming Corp BYD 1.74%. While Hendrix says that it’s too early for investors to get overly excited at this point, all three companies are currently on track to beat consensus Q2 revenue forecasts.
What To Watch
So far in Q2, April and May’s performance has put these three regional gaming companies on pace to top consensus Q2 revenue estimates by 3 to 7 percent. However, Hendrix cautions that June tends to be a weak month in many U.S. regions.
In addition, she notes that she believes that the share prices of Pinnacle and Boyd are currently pricing in the possibility of REIT spin-offs.
Penn
So far in Q2, strong performance from Penn’s facilities at Charles Town and Dayton have more than offset weakness at Mahoning Valley. Penn is currently tracking $24.5 million ahead of Barclays’ revenue estimates for Q2.
Pinnacle
According to the report, all of Pinnacle’s facilities that are located in states that report monthly revenue numbers are…
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