Posts

Penn National Gaming Reports Fourth Quarter Revenues

Penn National Gaming today reported financial results for the three months and year ended December 2021. Penn National owns, operates or has ownership interests in 39 gaming and racing facilities, and video gaming terminal operations across the United States of America.

2021 Fourth Quarter Financial Snapshot:

  • Revenues of $1.6 billion, an increase of $545.1 million year-over-year and $231.3 million versus 2019;
  • Net income of $44.8 million and net income margin of 2.8%, as compared to net income of $12.7 million and net income margin of 1.2% in the prior year and net loss of $92.9 million and net loss margin of 6.9% in 2019;
  • Adjusted EBITDAR of $480.5 million, an increase of $115.1 million year-over-year and $81.1 million versus 2019;
  • Adjusted EBITDA of $369.0 million, an increase of $113.1 million year-over-year and $65.0 million versus 2019; and
  • Adjusted EBITDAR margins of 30.6%, as compared to 35.6% in the prior year and 29.8% in 2019.

Jay Snowden, President and CEO commented, “I am pleased to report a strong finish to another transformative year for Penn National. Our fourth quarter revenues of $1.6 billion and Adjusted EBITDAR of $480.5 million exceeded both 2020 and 2019 levels as our best-in-class operating teams continue to deliver impressive results despite the ongoing pandemic.”

Penn National Gaming expects full-year revenue in the range of $6.07 billion to $6.39 billion.

While the market for online gambling is growing and can be a promising revenue stream for Penn, analysts caution there could be bumps in the road. Two of the so-called Big Four states still do not allow sports betting. New York and Michigan recently passed laws allowing sports wagering, but California and Florida have not.

The company also owns a 36% stake in sports and pop culture blog, Barstool Sports.

Useful Pieces Of Advice To Help You Travel Safely With Your Motorcycle

A motorcycle ride might seem entertaining and thrilling, especially in places where the atmosphere is pleasant, like Florida; but the dangers one can encounter throughout it can be much more harmful than a car accident. If a motorist confronts an accident, they are likely to have more physical damage since motorcycles are not covered, minimising their protection against road crashes.

Hence, the risk of driving a motorcycle is higher, and we must take extra precautions before and while riding for our safety.

Examine Your Motorcycle For A Safe Ride

A safe ride does not begin when you ease off the clutch. The likelihood of a safe motorcycle ride depends on numerous factors that we must examine long before we go out on the road.

Choose the Correct Bike

The most important factor that predicts the safety of a ride is how good a bike is. We must choose the right motorcycle for a stable and safe journey throughout. A bike must have a comfortable seat to support your physical health by keeping your back upright. It must have low maintenance to save your efforts in their preservation. Do not forget to consider the fuel efficiency, power ratio, wet weight, and mileage for a healthy engine and functioning.

Regular Maintenance

Before setting out on an expedition, ensure that you have properly investigated every part of your vehicle. Fix an issue as soon as they come to light. For instance, loose brakes, clutch issues, broken lights, and the list goes on. Have a regular cleaning and maintenance service with a professional service provider to avoid risks while driving.

Some Useful Tips To Travel Safely With Your Motorcycle

Use Brakes

Utilise the brakes while you ride a motorcycle. Push your brakes as soon as you sense any situation that might lead you to danger. Brakes help a rider to have a quick stop when they encounter damaging situations while changing lanes, turning, or crossing a big vehicle. Maintain a safe distance from the other vehicle and firmly hold or press the brake when there is a chance of hitting them. Upgrade your brakes regularly and have a safe ride.

Stay Alert

Whenever you begin your journey on a motorcycle, ensure that you are alert and watchful, especially when you’re riding in the United States. Avoid driving when you feel drowsy and distracted. Due to the negligent practices of the riders, the dangers of riding a motorcycle in Florida, in particular, have increased over time. Many incidents that have been reported until now were the result of the irresponsible behaviour of the riders. The bike riders who lose their focus are more likely to face accidents. Have some coffee or tea before you ride on a bike or keep yourself mentally alert to avoid incidents that might have fatal consequences.

Check The Forecast

Motorcycles have more exposure to the outer environment. They do not have windshields to protect the riders from weather conditions like rain or storms, nor do they have extra shelter and coverage to prevent those situations. Hence, it is recommended to stay updated on the weather forecast before a bike rider leaves for their journey. Avoid riding a bike if rain or storm is predicted in your city.

The Use Of Correct Accessories

Arm yourself with the correct accessories for safe and sound transportation. The correct use of accessories will protect you against possible dangers and give you a safe and comfortable experience while riding. While purchasing a bike, do not forget to buy gloves and a jacket for protection against harsh weather. Wearing appropriate shoes will help you have a firm grip on the accelerators and brakes. Whereas, a good-quality helmet will protect you against head injuries.

The Dangers of Driving A Motorcycle

Lane Splitting

Bike riders have the dangerous practices of splitting lanes, overtaking other vehicles, and rushing through narrow spaces, which multiplies their chances of having severe accidents.

Zero Shelter

A motorcycle, as compared to a four-wheeler, is not covered and has zero protection from the outer environment, which maximises the risk of accidents for a bike rider.

Compared to cars, motorcycles are fuel-efficient, fun, and easy to ride. They help you soak the fresh breeze and engage directly with the scenery. However, motorists are prone to risk the minute they throw a leg over their bike, and this is why it is always suggested to stay aware of the potential risks to help prevent them in the best possible way. Stay on the safe side of driving whenever you get behind the wheel using this helpful guide.

JZZ Technologies, Inc. Receives Assessment of Its Marketing Database

MCapMediaWire – The digital media marketing division of JZZ Technologies Inc. has received an independent assessment of its proprietary marketing database, indicating that the total record group has a base asset value of $13,184,500.

JZZ Technologies, Inc. has received a third-party assessment of its proprietary database used internally for marketing products, services, and in co-promotions with partners

JZZ Technologies, Inc. has received a third-party assessment of its proprietary database used internally for marketing products, services, and in co-promotions with partners

Although this is an un-audited assessment, an independent industry expert’s valuation has been carried out using comparable commercial databases available for marketing to similar or identical target audiences.

JZZ Technologies, Inc.’s proprietary database is comprised of the following vertical groups:

  • 35 million-plus U.S. Seniors (individual age 55 or older)
  • 1.2 million U.S. Physicians (by practice or specialty)
  • 500,000 U.S. Veterans (verified according to service)

The digital marketing division is working directly with its marketing partner Ever Convert to advance its marketing capabilities using these valuable databases.

In preparation for broader marketing efforts, the Company is also engaging an independent third party to work with the databases to ensure security, record validation, industry-best practices, and extremely high standards of record hygiene.

JZZ Technologies, Inc. is already employing its proprietary data to increase circulation of its digital newsletter and for its high-profile marketing partners, including Beacon Insurance, EyeOn TV Channel, and select eCommerce partners.

“We have a valuable and compelling offering for anyone wanting to access our digital marketing capabilities to reach audiences that we serve.”, says Charles Cardona, CEO of JZZ Technologies, Inc. “Our proprietary database is just one more component that we can use to create tremendous value for our advertisers and partners. The assessment here shows the base asset value for our commercial database, but when applied to marketing for our many opportunities, it brings a value that we believe will be many times that assessment.”

The Company anticipates that the marketing database will be part of an audited valuation used for SEC reporting purposes in the Q4 revenue reporting period.

About JZZ Technologies, Inc.

JZZ Technologies, Inc. is a diversified technology company rolling up projects and partnerships in two distinct business sectors that operate cohesively; its digital media business includes online media and apps, content creation, digital marketing, streaming video content, publishing, and free over-the-air television targeted at active adults 55+.

The Company’s other business is focused on strategic biotechnology and bioscience acquisitions related to Human Life Extension and Human Longevity that can be immediately leveraged to support improved quality of life for aging populations.

DISCLAIMER and FORWARD-LOOKING STATEMENTS

Certain statements contained herein are “forward-looking” statements. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbours created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company’s business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company’s products; the Company’s ability to protect its proprietary information; general economic and business conditions; the volatility of the company’s operating results and financial condition; and other risks detailed in the Company’s filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.

Contact:

JZZ Technologies, Inc.
Charles Cardona, CEO

Email: [email protected]
Website: https://www.jzztechnologies.com/

Duane Morris Law Firm Named a Florida Top Workplace

A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought.

For years, the Duane Morris Miami office has assisted a wide range of individuals and businesses with local, regional and international interests. Drawing on the resources of one of the nation’s largest law firms, Duane Morris attorneys in Miami offer legal services that address the complex challenges our clients face in today’s dynamic and competitive market.

Duane Morris has been named a 2021 Top Workplace in South Florida by the South Florida Sun Sentinel. The Top Workplaces list is based on an employee survey administered by Energage. The firm’s Boca Raton and Miami offices participated in the survey. Duane Morris is ranked in the Top Small Workplaces category.

The Duane Morris Boca Raton office provides a wide range of legal services and strategic advice to individuals, entrepreneurs, middle-market companies and large multinational entities with interests in South Florida and throughout the world.

Drawing on their extensive experience and the resources of one of the world’s 100 largest law firms, our Boca Raton attorneys serve clients locally and globally, helping clients navigate a changing and complex legal and business landscape.

About Duane Morris

Duane Morris LLP provides innovative solutions to today’s multifaceted legal and business challenges through the collegial and collaborative culture of its more than 800 attorneys in offices across the United States and internationally.

The law firm represents a broad array of clients, spanning all major practices and industries.

Grant Thornton names three executives to Audit Quality Advisory Council

As part of its continued commitment to ‘quality without question,’ Grant Thornton LLP has named three executives to the firm’s Audit Quality Advisory Council. The three-person council now includes two independent members – Chris Mandaleris and Ann Yerger – and Grant Thornton Partnership Board member Seth Siegel.

As advisers to Grant Thornton’s Partnership Board, the council will provide deep, practical and objective advice regarding ways Grant Thornton can continue to deliver high audit quality. In so doing, this council will champion the audit profession and its role in supporting the trustworthiness of our public markets.

“At Grant Thornton, we are committed to delivering the highest quality audits to our clients,” said Mike McGuire, CEO of Grant Thornton. “Chris, Ann and Seth bring more than 75 years of combined professional services experience to our council and we look forward to working alongside them to strengthen our position as a leader in the profession for quality. This group will, in turn, help make our firm the auditor of choice for companies committed to excellence.”

Mandaleris, a retired Ernst & Young LLP Audit partner, joins the Audit Quality Advisory Council after having spent 25 years working in EY’s Audit practice and having helped open the firm’s Greensboro, North Carolina office. Most recently, he was the senior deputy director in the Public Company Accounting Oversight Board’s (PCAOB) inspections division. After 13 years with the PCAOB, Mandaleris retired in 2016 and dedicated his time to serving the Greek Orthodox Church in the southeast as a volunteer strategy, governance and internal control advisor. He is a certified public accountant (CPA) in Alabama and a member of the American Institute of Certified Public Accountants (AICPA).

Yerger joins Grant Thornton’s council after spending the past 20 years at the Council of Institutional Investors, where she served as the executive director. She has also served as the executive director of EY’s Center for Board Matters, as a member of the PCAOB’s Investor Advisory Group, and as a member of the SEC’s Investor Advisory Committee. She also served on the U.S. Treasury Department’s Advisory Committee on the Auditing Profession. Yerger is currently a member of Spencer Stuart’s North American Board Practices and is an independent director of Hershey Entertainment and Resorts Company, where she chairs the nominating and governance committee and serves as a member of its compensation committee.

Siegel, who serves as an Audit partner and as Grant Thornton’s Florida Audit practice leader, will function as the council’s Partnership Board representative. He joined the firm in 1996 and has more than 20 years of public accounting and corporate finance experience. He provides services to both publicly-traded and privately-held entities with a focus on companies in a variety of industries, including financial services, private equity, real estate, hospitality and energy. Siegel is a CPA in Florida and a member of the Florida Institute of CPAs and the AICPA.

Jeff Burgess, national managing partner of Audit Services at Grant Thornton, sums up the additions of Mandaleris, Yerger and Siegel by saying this: “These new members not only reaffirm our focus on quality above all else, but the council itself complements Grant Thornton’s approach to providing the audit of the future, which is built around innovation and quality.”

If you would like to find out more information about Grant Thornton’s audit initiative, please visit https://www.grantthornton.com/auditinnovation

About Grant Thornton LLP

Founded in Chicago in 1924, Grant Thornton LLP (Grant Thornton) is the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading organisations of independent audit, tax and advisory firms. Grant Thornton, which has revenues in excess of $1.8 billion and operates 58 offices, works with a broad range of dynamic publicly and privately held companies, government agencies, financial institutions, and civic and religious organisations.

“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions. Please see grantthornton.com for further details.