Penn National Gaming 2Q profit falls 3.4 percent

Profit slipped to $37 million, or 42 cents per share, from $38.3 million, or 43 cents per share, last year.

The Wyomissing, Pa.-based company says revenue fell slightly to $620.6 million from $625.2 million. Penn National had previously guided for quarterly revenue of $621.8 million.

Analysts surveyed by Thomson Financial forecast earnings of 43 cents per share on sales of $626.6 million.

Penn National cited smoking bans in two states, competitive pressures in some markets and an economic downturn.