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Penn Blames Bad Weather for Weak Earnings

On Tuesday the Penn National Gaming, Inc. said that the bad weather in some regions and a reduced interest in gambling by players are the factors that led to poor results in the second quarter.

In the quarter that ended June 30, the regional casino giant, that operates a lot of big casinos such as M Resort in Henderson, said it lost 16 cents a share (that are $12.2 million). Past year the company recorded a net profit of $66.7 million (that makes earnings of 63 cents per share).

Penn National blamed the bad weather in Midwest for the weak earning. Flooding and tornados caused the closures of a few casinos.

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