Pinnacle net income up 77% - will expand Heartland Poker Tour, Dan Katz PokerNewsDaily | Poker & eGaming News | Scoop.it

Pinnacle Entertainment, owner of the Heartland Poker Tour, reported positive second quarter financial results Wednesday, sparking a jump in the company’s stock price.

 

Revenue increased $8.9 million to $298.3 million, a 3.1 percent lift from the second quarter of 2011. Consolidated Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), was even more impressive, soaring from $58.7 million to $73.2 million, a jump of 24.7 percent. Even better than that was operating income, which was up to $38.8 million from $16.9 million, a 77 percent increase.