In preparation for PNK's Q1 earnings release tomorrow, we’ve put together the pertinent forward looking commentary from PNK’s Q4 earnings call.




  • "We believe the corporate costs will continue to trend down in 2011."
  • "You should expect us to continue to begin to draw down on that increasingly this year as we complete the Baton Rogue construction. That said our Baton Rouge project remains fully financed through existing cash on hand, our revolver and anticipated free cash flow from operations. We do have approximately $319 million of cash construction costs still to fund for the completion of Baton Rogue."
  • "Up next are new brand campaigns for L’Auberge and the three Boomtown properties. MyChoice, our guest loyalty program, will be re-launched in April."
  • "The fourth quarter corporate would be a better proxy than any of the preceding quarters in the year for that
    very reason.  We’re hoping for some marginal improvement to that as well."
  • "We have sensed a stabilization of our top line experience roughly across our markets."
  • [Reno] "We’re going to keep an appropriate level of maintenance at a property. We have a large tract of land that’s for sale there and if we were able to sell the land we would. But we’ve said before if there was an appropriate offer there we’d consider it. But we’re not out shopping it. It is what it is."
  • [Discontinued operations] "Atlantic City is in disc ops in particular, probably the largest single component of that but that’s mostly a property tax expense at this point. That’s probably going to accrue up to something. In total you’re probably going to see in the kind of [low] double-digit millions for the year would be my guess."
  • "We are right now working on making MyChoice a universal card, meaning it would be recognized and accepted at all Pinnacle properties. We expect the universal card functionality to be fully in place by the end of first quarter 2012, so that would obviously be aligned with Baton Rouge and their opening."
  • [L'Auberge gaming mix change] "Now we have a plan that we expect to have completed by the end of the second quarter that will complete the change from a mix standpoint."

Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more

A Sneak Peek At Hedgeye's 2017 GDP Estimates

Here's an inside look at our GDP estimates versus Wall Street consensus.

read more

Cartoon of the Day: Green Thumb

So far, 64 of 498 companies in the S&P 500 have reported aggregate sales and earnings growth of 6.1% and 16.8% respectively.

read more

Europe's Battles Against Apple, Google, Innovation & Jobs

"“I am very concerned the E.U. maintains a battle against the American giants while doing everything possible to sustain so-called national champions," writes economist Daniel Lacalle. "Attacking innovation doesn’t create jobs.”

read more

An Open Letter to Pandora Management...

"Please stop leaking information to the press," writes Hedgeye Internet & Media analyst Hesham Shaaban. "You are getting in your own way, and blowing up your shareholders in the process."

read more

A 'Toxic Cocktail' Brewing for A Best Idea Short

The first quarter earnings pre-announcement today is not the end of the story for Mednax (MD). Rising labor costs and slowing volume is a toxic cocktail...

read more

Energy Stocks: Time to Buy? Here's What You Need to Know

If you're heavily-invested in Energy stocks it's been a heck of a year. Energy is the worst-performing sector in the S&P 500 year-to-date and value investors are now hunting for bargains in the oil patch. Before you buy, here's what you need to know.

read more

McCullough: ‘My 1-Minute Summary of My Institutional Meetings in NYC Yesterday’

What are even some of the smartest investors in the world missing right now?

read more

Cartoon of the Day: Political Portfolio Positioning

Leave your politics out of your portfolio.

read more

Jim Rickards Answers the Hedgeye 21

Bestselling author Jim Rickards says if he could be any animal he’d be a T-Rex. He also loves bonds and hates equities. Check out all of his answers to the Hedgeye 21.

read more

Amazon's New 'Big Idea': Ignore It At Your Own Peril

"We all see another ‘big idea’ out of Amazon (or the press making one up) just about every day," writes Retail Sector Head Brian McGough. "But whatever you do, DON’T ignore this one!"

read more