Penn National Sets Deadline to Regain Nasdaq Compliance

WYOMISSING, Pa. – After being notified that it was out of compliance with Nasdaq in mid-November for not filing a quarterly report with the Securities and Exchange Commission, Penn National Gaming has announced that it will submit its filing for the quarter ended Sept. 30 by Feb. 29, 2016.

That deadline is the date when audited financial statements for 2015 are due. The company will also submit a plan to regain compliance with Nasdaq listing requirements by Jan. 8, which will extend compliance for three months.

Penn National owns and operates Hollywood Gaming at Mahoning Valley Race Course in Austintown, along with 32 other locations in the United States and Canada.

The delay in filing arose from a change from an operating lease to a financing obligation in the master lease with Gaming and Leisure Properties Inc., a move that was previously disclosed, the company said.

The cash flow for Penn National was not and will not be affected by the changes, the company said. For the quarter ending Dec. 31, Penn National expects revenues to be $722.5 million and a full-year revenue of $2.79 billion.

Copyright 2022 The Business Journal, Youngstown, Ohio.