(RTTNews) - Thursday, casino chain Pinnacle Entertainment Inc. (PNK: News ) posted a wider loss for the third quarter from a year-ago, primarily due to an early settlement of a debt, despite a slight increase in revenue.

Pinnacle's net loss for the third quarter widened to $21.9 million or $0.37 per share from $11.8 million or $0.20 per share in the year-ago period. The quarter's results include a $8.8 million charge related to early extinguishment of a debt.

On an average, 12 analysts polled by Thomson Reuters expected earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter improved 1.0% to $265 million from $263 million in the prior-year period, while analysts' anticipated revenues of $266.99 million for the quarter.

Pinnacle generated more revenue from gaming than from its food, beverages, lodging, retail and entertainment services offered. Gaming revenue increased to $227.35 million from $222.06 million a year ago. Food and beverage revenue declined to $16.57 million from $17.01 million, lodging revenue declined to $10.89 million from $11.70 million, and revenue from retail and entertainment decreased to $10.55 million from $12.07 million in the corresponding quarter last year.

Casino-wise, L'Auberge du Lac generated revenues of $85.8 million, up from $81.8 million, while Lumiere Place revenue increased 21.7% to a record $55.6 million from $45.7 million. Belterra's revenue decreased to $41.7 million from $43.9 million, while Boomtown Bossier City recorded revenue of $23.3 million, compared to $22.5 million in the year-ago period. Casino Magic Argentina revenue decreased to $9.1 million from $11.4 million as did Boomtown Reno revenues of $11.5 million, compared to $14.9 million last year. At President Casino, revenues declined to $5.0 million from $5.2 million in the prior-year period.
For the nine month- period, Pinnacle's net loss narrowed to $16.3 million or $0.27 per share from a net loss of $24.9 million or $0.42 per share a year ago.

The nine-month results include a $12.9 million gain on sale of equity securities and $8.8 million loss on early extinguishment of debt. The year-ago period's results include a $22.6 million impairment of investment in the same equity securities.

Revenue increased to $801 million from $786 million in the prior-year period.

Daniel Lee, Pinnacle's Chairman and Chief Executive Officer said, "In particular, Lumiere Place achieved record quarterly results. As we transition into 2010, we remain focused on our near- and long-term growth plans, including the opening of River City in the spring, ongoing construction at Sugarcane Bay in Lake Charles, Louisiana, and preparations for our planned casino in Baton Rouge."

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