Pinnacle Entertainment Inc. (NASDAQ:PNK) Q1 2016 Earnings Conference Call - Final Transcript

May 10, 2016 • 10:00 am ET

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Pinnacle Entertainment Inc. (NASDAQ:PNK) Q1 2016 Earnings Conference Call - Final Transcript

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Operator
operator

Good morning. My name is Phyllis and I will be your conference operator today. At this time, I would like to welcome everyone to the PNK 2016 Q1 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions)

Thank you. I would now turn the conference over to Vincent Zahn. Please go ahead.

Executive
Vincent Zahn

Thank you, Phyllis. Good morning everyone. My name is Vincent Zahn, Vice President and Treasurer of Pinnacle Entertainment. Thank you for joining Pinnacle Entertainment's 2016 first quarter earnings conference call and thank you for your interest in our company. Earlier this morning, we released record 2016 first quarter financial results. If you don't have a copy of the announcement and would like one sent to you, please visit the Investor Relations section of our website, or contact us by emailing investors@pnkmail.com.

On the call with me today are Pinnacle Entertainment's CEO, Anthony Sanfilippo; our CAO, Ginny Shanks; and our President and CFO, Carlos Ruisanchez.

(Forward Looking Cautionary Statements)

In addition, today's call may include non-GAAP financial measures within the meaning of Regulation G. A reconciliation of all such non-GAAP financial measures to the most directly comparable financial measure calculated and presented in accordance with GAAP can be found in today's press release.

With that, it is my pleasure to turn the call over to Pinnacle Entertainment's CEO, Anthony Sanfilippo.

Executive
Anthony Sanfilippo

Thank you, Vincent, and good morning, everyone. Welcome to our first quarter call. We are in the middle of May, we're pretty close it. So it feels like the first quarter happened a while ago. We want to spend a little bit of time talking with you about the first quarter. We feel like we just had a terrific first quarter and so many things are going right and that's really a result of the management team that we have, not only in Las Vegas that leads our service center, but also broadly throughout our company.

So we'll talk about the first quarter. We're going to also spend some time talking about what we're seeing in April and early May. And then we're going to shift and talk about our strategy and how we see our company going forward. Ginny, we really posted the best financial quarter in the history of Pinnacle Entertainment that sounds really nice to say that, that this was a historical quarter for us.

And I want you to talk about the highlights and what are those things that really went well for us.

Executive
Ginny Shanks

It really was a terrific quarter and what was particularly encouraging was just how broad based our improved results were. When you look at Belterra Park growing the database there, allows us to one, deliver our marketing more effectively and efficiently and we're just seeing month after month momentum building at that property. And then when you look at the whole Midwest segments, year-over-year improvements we're seeing in both the top and bottom lines