NEW YORK, Feb 4 (Reuters) - Penn National Gaming Inc reported a narrower fourth-quarter loss on Thursday on fewer charges, but added that consumer spending in nearly every market fell.
The company reported a net loss of $355.4 million, or $4.54 per share, compared with a net loss of $378.6 million, or $4.77 in the same 2008 period.
Revenue fell to $555.8 million from $571.1 million. The analysts' average estimate was $573.6 million.
Penn, which operates racetracks and casinos in U.S. cities other than Atlantic City and Las Vegas, last month bowed out of bidding on the bankrupt, unfinished Fontainebleau Las Vegas casino resort.
A Florida court subsequently approved billionaire investor Carl Icahn's offer for the 3,800-room property.
(Reporting by Deena Beasley and Deepa Seetharaman, editing by Dave Zimmerman) Keywords: PENNNATIONAL/ (deepa.seetharaman@thomsonreuters.com; +1 646 223-6125; Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company reported a net loss of $355.4 million, or $4.54 per share, compared with a net loss of $378.6 million, or $4.77 in the same 2008 period.
Revenue fell to $555.8 million from $571.1 million. The analysts' average estimate was $573.6 million.
Penn, which operates racetracks and casinos in U.S. cities other than Atlantic City and Las Vegas, last month bowed out of bidding on the bankrupt, unfinished Fontainebleau Las Vegas casino resort.
A Florida court subsequently approved billionaire investor Carl Icahn's offer for the 3,800-room property.
(Reporting by Deena Beasley and Deepa Seetharaman, editing by Dave Zimmerman) Keywords: PENNNATIONAL/ (deepa.seetharaman@thomsonreuters.com; +1 646 223-6125; Reuters Messaging: deepa.seetharaman.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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