© Reuters.

By Dhirendra Tripathi

Investing.com – Penn National (NASDAQ:) shares were up more than 3.5% in Thursday’s premarket trading after giving an optimistic update to its outlook and disclosing plans to raise debt.

The company expects consolidated revenue for the three months ended June 30 to come between $1.45 billion and $1,56 billion and adjusted EBITDAR to range from $420 million to $460 million.

The midpoint of the company’s expected revenue reflects a quarterly sequential improvement of 18%.

The gamers retailer also plans to raise $400 million via eight-year senior unsecured notes in a private offering.

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