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Article: Pinnacle's quarterly earnings soar.
- Article from:
- Las Vegas Review-Journal (Las Vegas, NV)
- Article date:
- August 2, 2006
CopyrightCOPYRIGHT 2006 Las Vegas Review-Journal. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Howard Stutz
Aug. 2--Pinnacle Entertainment on Tuesday announced a large gain in second-quarter earnings compared to a year ago due to prosperous times at its New Orleans casino and three full months of results from its year-old casino in Lake Charles, La.
A net payment of $44.8 million from Aztar Corp. to cover the companies' terminated merger agreement also boosted Pinnacle in the quarter.
But those figures didn't help the company's stock.
Shares in Las Vegas-based Pinnacle Entertainment fell $2.43 on the earnings news, closing at $25 in trading on the New York Stock Exchange, off 8.86 percent. More than 2.1 million shares ...
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