Illegal Activity
none
Blackmail
none
Date
January 2018
Document Type
report
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:43
Summary
This report reaffirms a Buy rating on PENN 5.625% Senior Notes 2027 and provides financial projections for Penn National, including Adjusted EBITDA, revenues, and free cash flow for 2017 and 2018. It also discusses potential downside risks, such as industry deterioration and increased competition.
Metadata
- Subject
- HY Corporate Credit HY Multi Sector.Media. Cable & Satellite
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0086651 SDNY_GM_00232835
- Date
- January 2018
Relationships 1
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| Penn National | financial | Adjusted EBITDA | Penn National's projected Adjusted EBITDA for 2017 and 2018 |
Notable Quotes 2
With this report we are reaffirming our Buy rating on PENN 5.625% Senior Notes 2027 ($103.8, 5.0% YTW, 261bps) given our belief that the notes are attractive on a relative value basis.
Downside risks to our call include a deterioration of industry fundamentals and higher-than-expected cannibalization from the opening of new competition.
Financial Information
Amounts:$868 million$3.15 billion$844 million$3.03 billion$105 million$56 million$31 million$455 million$525 million$128 million$133 million$4.85 billion$512 million$265 million$912 million$3.21 billion$115 million$55 million$30 million$462 million$25 million$225 million$4.62 billion$517 million
Assets:
- PENN 5.625% Senior Notes 2027
Transactions:
- capital expenditures
- cash interest
- cash tax refunds
- payments of financial obligation
- share repurchases
- acquisitions
- asset sales
- proceeds from Jamul
Raw Analysis JSON
click to expand
Themes
Financial transactions/money flowBusiness dealings
Organizations 6
PENNPenn NationalDeutsche Bank Securities Inc.Allied Hock ResortsPalmsPalace Station
Locations 1
Las Vegas
Text Analysis
- Tone
- Professional
- Purpose
- To reaffirm a Buy rating on PENN 5.625% Senior Notes 2027 and provide financial projections for Penn National.
- Significance
- Provides financial analysis and projections for Penn National, including Adjusted EBITDA, revenues, free cash flow, and debt leverage.
File Info
- File Name
- EFTA01385367.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:43:26.913102
- DOJ Source
- View on DOJ