Penn National reports 47% jump in Q3 profits

10/24/2011 | Wall Street Journal, The

Penn National Gaming reported better-than-expected Q3 earnings of $70.8 million, but warned that 2012 projections are too high because they do not take "cannibalization" into consideration. Penn National said its Q3 profit jumped by 47%. However, Chief Financial Officer William Clifford noted that 2012 projections "are quite candidly a little bit too optimistic or too high."

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