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After an Oct/Nov bounce off the September disaster, are investors due for a shock?

  • We project mature regional gaming markets to post -9% in SSS revenues in December – as bad as September which crushed Q3 earnings.
  • Remember that the stocks recovered in later Q4 as October and November rebounded
  • PENN and PNK are particularly at risk
  • Look for the states to begin releasing numbers next week
  • Based on early feedback from Pennsylvania and Missouri, a double digit monthly decline in revenues is possible for both of those states.  Pennsylvania may release monthly numbers as early as today.
  • December 2013 has one less Saturday than prior year