Bank of America Reports First Quarter Results for US Gaming Sector

Bank of America (BofA) has released its comprehensive scorecard for the US gaming sector's performance in the first quarter of 2024. The report offers insights into the financial performance of key industry players during this period.

According to the report, six companies managed to surpass initial expectations, while one performed in line with forecasts. However, four companies fell short of their targets for the first quarter.

PENN Entertainment emerged as one of the notable performers, reporting revenue of $1.61 billion and an EBITDA of $256 million for the period. These figures closely aligned with BofA's projections, which estimated revenue at $1.59 billion and EBITDA at $260 million.

On the other hand, Red Rock Resorts recorded first-quarter revenue of $490 million and an EBITDA of $210 million, both of which were below BofA's expectations.

The release of BofA's earnings scorecard provides valuable insights into the financial health and performance of key players in the US gaming sector, offering investors and industry stakeholders crucial information to inform their decisions moving forward.