Pinnacle Entertainment Inc

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  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Why Leveraged Loan Funds Witnessed an Outflow Last Week

    According to data from Lipper, leveraged loan funds saw an outflow for the fourth consecutive week. The quantum of outflows was $93 million last week.

    By Lynn Noah
  • uploads///US Leveraged Loans Flows
    Company & Industry Overviews

    Leveraged Loan Funds Witnessed a Small Outflow Last Week

    According to data from Lipper, leveraged loan funds saw outflows for the third consecutive week. The quantum of outflows came in at $73 million last week.

    By Lynn Noah
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    Macroeconomic Analysis

    US unemployment rate hits six-year low, another plus for leisure

    The US unemployment rate increased slightly in January to 5.7% compared to 5.6% in December. The number of new jobs in January was expected to be 234,000.

    By Shawn Bolton
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    Macroeconomic Analysis

    Las Vegas sees pricing improvements, visitor arrivals remain flat

    Revenue per available room (or RevPar) was $122.03 in January 2015, up 10.2% year-on-year. RevPAR increased on account of pricing improvements at the Strip.

    By Shawn Bolton
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    Consumer

    Why Casinos Rely On Disposable Income

    On a year-over-year basis, real disposable income increased 2.9%. More disposable income boosts consumer buying power.

    By Shawn Bolton
  • uploads///Part
    Consumer

    Scientific Games: Strategic Acquisition of Bally Technologies

    In its merger agreement with Bally Technologies, Scientific Games agreed to acquire all outstanding Bally common stock for $83.3 cash per share.

    By Shawn Bolton
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    Consumer

    A Quick Guide To The Bifurcation Of Caesars’s Operating Leases

    The initial term of each lease will be for 15 years with four five-year renewals. CZR will guarantee payments and performance of the OpCo’s obligations.

    By Shawn Bolton
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    Consumer

    Casino REITs Are Becoming Popular In The US

    US casino operators are considering REIT spin-offs to achieve higher valuations. Real estate is a main income source. REITs distribute at least 90% of their taxable earnings to shareholders.

    By Shawn Bolton
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    Company & Industry Overviews

    Key management executives at Pinnacle Entertainment

    Anthony Sanfilippo is the chief executive officer of Pinnacle Entertainment (PNK). He has more than 30 years of gaming entertainment experience.

    By Shawn Bolton
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    Fund Managers

    Institutional investors dominate at Pinnacle Entertainment

    Pinnacle Entertainment (PNK) has approximately 59.2 million outstanding shares, with free float of 57 million shares. Institutional investors hold around 122% of the float.

    By Shawn Bolton
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    Company & Industry Overviews

    Shorting Pinnacle’s stock could be difficult to cover

    The short-interest ratio for Pinnacle Entertainment (PNK) dropped from 13 days as of October 31, 2014, to five days as of November 14, 2014.

    By Shawn Bolton
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    Consumer

    Pinnacle Entertainment’s use of capital

    Capital employment Casino companies fund their acquisitions with a significant amount of debt capital. ROIC (return on invested capital) is an important metric that shows how effectively a company makes use of its capital. To calculate ROIC, divide EBIT (earnings before interest and tax) by the employed capital. A higher ratio denotes that more profit […]

    By Shawn Bolton
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    Company & Industry Overviews

    Why Pinnacle’s leverage ratio could be a concern for investors

    Pinnacle Entertainment (PNK) has a massive debt-to-equity ratio of 15.4. This indicates that PNK is very aggressive in financing its operations with debt.

    By Shawn Bolton
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    Company & Industry Overviews

    Liquidity analysis for Pinnacle Entertainment

    The current ratio for Pinnacle Entertainment (PNK) had declined severely to 0.7 as of September 30, 2014, from 2.9 as of December 31, 2012.

    By Shawn Bolton
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    Earnings Report

    Key financials for Pinnacle Entertainment

    Wall Street analysts expect Pinnacle Entertainment’s adjusted net profit for 2015E to be about $92 million with a growth rate of 34.9%.

    By Shawn Bolton
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    Company & Industry Overviews

    How Pinnacle Entertainment earns its gaming revenues

    Revenues for Pinnacle Entertainment (PNK) are mostly cash-based. Customers wager with cash or pay for non-gaming services with cash or credit cards.

    By Shawn Bolton
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    Company & Industry Overviews

    Profitability analysis of Pinnacle Entertainment

    Pinnacle Entertainment’s compounded annual growth rate of adjusted property EBITDA over a three-year period ending on December 31, 2013, stood at 20.2%.

    By Shawn Bolton
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    Company & Industry Overviews

    Pinnacle Entertainment’s cost structure

    Pinnacle Entertainment (PNK) incurs direct costs in gaming, food and beverage, lodging, retail, entertainment, and other areas.

    By Shawn Bolton
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    Consumer

    Revenue breakdown for Pinnacle Entertainment

    Pinnacle Entertainment’s gaming revenues represented 89% of total revenues generated by the company for the trailing twelve months ending September 30, 2014.

    By Shawn Bolton
  • uploads///Part
    Company & Industry Overviews

    Pinnacle Entertainment’s revenue-generating properties

    Pinnacle Entertainment (PNK) recently completed the acquisition of Ameristar Casinos for a total consideration of $2.8 billion. This transaction added eight properties to PNK’s portfolio.

    By Shawn Bolton
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    Company & Industry Overviews

    Business overview of Pinnacle Entertainment

    Pinnacle Entertainment owns and operates a poker tour as well as various gaming entertainment properties. The company also manages a racetrack.

    By Shawn Bolton
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    Consumer

    What is Pinnacle Entertainment’s forward valuation?

    As of November 28, 2014, Pinnacle Entertainment’s one year forward EV/EBITDA stood at 9.2x compared to its peer group average of 7.6x.

    By Shawn Bolton
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    Consumer

    Pinnacle Entertainment pays debt from efficient cash flow

    During 3Q14, Pinnacle Entertainment (PNK) repaid ~$116 million of total debt from its cash flow from operations. It accomplished this with the help of efficient cash flow and working capital management as well as reductions in its growth capital commitments.

    By Shawn Bolton
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    Consumer

    Overview of Pinnacle Entertainment’s 3Q14 results

    Pinnacle Entertainment reported financial results for the third quarter ended September 30, 2014. The company had net revenues of $568.3 million, up 35.7% year-over-year.

    By Shawn Bolton
  • Consumer

    Why Penn National Gaming is an attractive investment

    A company can generate more earnings if a lot of debt is used to finance additional operations, even if it results in high debt-to-equity. If earnings are that much greater than the interest cost of the debt, shareholders win.

    By Shawn Bolton
  • Consumer

    Why Penn National Gaming’s liquidity is strong

    Liquidity ratios determine a company’s ability to meet its short-term obligations. The liquidity position of a company can be measured by using two main liquidity ratios—current ratio and quick ratio.

    By Shawn Bolton
  • Consumer

    Must-know: Penn National Gaming’s performance metrics

    Performance metric Penn National Gaming, Inc. (PENN) defines adjusted EBITDA as earnings before interest, taxes, stock compensation, debt-extinguishment charges, impairment charges, insurance recoveries and deductible charges, depreciation and amortization, gain or loss on disposal of assets, and other income or expenses. Adjusted EBITDAR is adjusted EBITDA excluding rent expenses such as those associated with PENN’s […]

    By Shawn Bolton
  • Real Estate

    Penn National Gaming’s must-know revenue by segment

    PENN derives more than half of its revenue from the East/Midwest segment, while it derives 34% and 9% of its revenues from the Southern Plains and West segments, respectively.

    By Shawn Bolton
  • Real Estate

    An overview of Penn National Gaming’s diverse holdings

    PENN’s operated facilities feature ~31,000 gaming machines, 760 table games, and 3,100 hotel rooms. PENN owns and operates gaming and racing facilities with a focus on slot machines.

    By Shawn Bolton
  • Must-know: The most popular casino games
    Consumer

    Must-know: The most popular casino games

    Casinos’ popularity is growing. This suggests that people like to gamble occasionally. Unfortunately, they don’t always win. For most of the people, the real fun is playing the game—not necessarily winning.

    By Shawn Bolton
  • Consumer

    Must-know: The casino industry’s key revenue drivers

    Gaming revenues are more volatile than consumer staples. Customers in markets outside of Las Vegas usually travel short distances to reach casinos. This is a major component of casino revenue. How much money gamblers bring is determined by their discretionary income.

    By Shawn Bolton
  • Consumer

    Why the commercial gaming market is increasing for casinos

    Casino gaming is the largest part of the commercial gaming market. It continues to grow in popularity. There has been a surge in demand for casino games. As a result, new casino destinations have been created. Existing casinos have also been expanded.

    By Shawn Bolton
  • uploads///MTW
    Industrials

    Relational Investors goes activist on Manitowoc

    Relational Investors LLC was co-founded by Ralph Whitworth and David Batchelder. It filed a 13D with the SEC last week and said it acquired 11.5 million shares, or an 8.52% stake, in Manitowoc (MTW)

    By Samantha Nielson
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