Pinnacle Entertainment, Inc (PNK) saw its loss narrow to $9.03 million, or $0.16 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $13.91 million, or $0.23 a share. Revenue during the quarter grew 14.15 percent to $637.42 million from $558.42 million in the previous year period. Gross margin for the quarter contracted 30 basis points over the previous year period to 44.85 percent. Total expenses were 86.74 percent of quarterly revenues, down from 91.77 percent for the same period last year. This has led to an improvement of 503 basis points in operating margin to 13.26 percent.
Operating income for the quarter was $84.54 million, compared with $45.96 million in the previous year period.
Anthony Sanfilippo, Chief Executive Officer of Pinnacle Entertainment, commented, "2016 was a tremendous year for Pinnacle Entertainment's shareholders, team members and guests. We are very proud of the results delivered across our Company. We made significant progress advancing our strategic, operational and financial objectives during the year, and are excited about what our Company and its dynamic leaders can achieve in 2017.
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