Penn National Gaming stock, a company stock having diverse gambling products along with a wide geographic reach, has announced its 2^nd quarter earnings. The performance of the company stock is below the expectations and projections of the analysts. Below par second quarter earning of Penn National Gaming didn’t go down well with the market sentiments. Consequences were evident. Penn National Gaming stock values got a good deal of battering in the stock market. At the time of writing this report casino Penn National Gaming stock or PENN at NASDAQ is $31.84, which is down by 5.44% from previous day.

Estimate and Actual Penn National Gaming stock price – PENN

Performance of Penn National Gaming stock in 2^nd quarter is not up to the mark in comparison to first quarter. In the 1^st quarter their earnings cross the experts’ estimations and projections. It is a case reversal in the second quarter. They have themselves brought down their forecast of earning for the entire 2009 to $1.27 per share, which is less than the earlier guidance by $0.11. In fact, this actual earning in second quarter is below the estimations done by Thomas Reuters by $0.17.

Result of Penn National Gaming stock – not par with Wall Street Expectation

Wall Street expectations from Penn National Gaming stock were higher than that of the actual performance. Actual earning of PENN is $0.04 below the expectations of Wall Street. Revenue earned in the 2nd quarter is $580.8 billion whereas Wall Street’s consensus on Penn National Gaming stock was $594.5.

Penn National Gaming stock – reason of poor performance

According to company sources, one of the biggest reasons behind such a fall in earning is the less spending by the customers per visit, though the volume of consumer visit has remained more or less the same.

Penn National Gaming stock – some facts

1. It is the third largest casino stock in America, on the basis of market capitalization.
2. Penn National Gaming Inc possesses horses, dog racing tracks and off track wagering facilities.

Penn National Gaming stock, Me & You

I hope condition of casino stocks will improve in the coming days, once our economy starts coming out of recession and people have enough money in their hand to spend. I’m still hopeful about Penn National Gaming stock and I’m still betting my money on it. What about you?