07/27/2017 9:31AM

Penn National Gaming revenue up 3.5 percent in second quarter


Penn National Gaming Inc., the owner of 29 racetracks and casinos across the U.S., had net income of $17.1 million in the second quarter of 2017, according to financial statements released Thursday, as interest payments on a large debt continued to take a chunk out of its bottom line.

Total revenue during the quarter was $796.5 million, up 3.5 percent from $769.4 million in the second quarter last year. Operating expenses were $661.4 million, up 6.7 percent, while interest expenses were an additional $116.8 million, according to the financial statements.

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Penn National has total long-term debt of $1.34 billion. The company has $224.4 million in cash, according to the statements.

The company’s Thoroughbred racetrack holdings include Penn National in Pennsylvania, Charles Town in West Virginia, Zia Park in New Mexico, and a share in Sam Houston Race Park in Texas. The company also owns a number of harness tracks.