WYOMISSING, PA-As it awaits a shareholder vote on its $8.9-billion buy-out, Penn National Gaming Inc. reported record third-quarter results with a 7.4% increase in net revenue and a 9.1% rise in Ebitda. Net revenue reached $629.5 million compared with $586.1 million in the prior-year quarter, and Ebitda rose to $177.6 million versus $162.8 million in third-quarter 2006.

Because of its pending sale to a joint venture between New York City-based Fortress Investment Group LLC and Centerbridge Partners LP, the results were released without a conference call. The sale would take Penn National private and keep its current management team intact. In a statement accompanying the third-quarter results, Peter Carlino, chairman and CEO, says, “we expect to soon establish a date for the special meeting of shareholders to consider and vote on the proposal.”

Meanwhile, during the quarter ended Sept. 30, the locally based owner/operator of casinos and racetracks acquired several additional properties, and its expansion of existing assets went full steam ahead. Three expansion projects will reach completion in 2008.