Penn National misses Q1 expectations on higher expenses

... in the year-ago period. Chairman and CEO Peter Carlino identified expenses in the release, including "$2.3 million of REIT transaction costs, $1.9 million of development costs for potential opportunities in Massachusetts, Philadelphia and Sioux ...

http://www2.snl.com/Interactivex/article.aspx?CdId=A-17494810-13608