NEW YORK (TheStreet) -- Shares of Pinnacle Entertainment(PNK) - Get Report  were rising in afternoon trading on Tuesday despite the Las Vegas-based gaming and hospitality company reporting lower-than-expected second quarter financial results before today's market open. 

Pinnacle Entertainment reported a loss of $8.04 per share, compared to analysts' projections of flat earnings growth. Revenue came in at $566.2 million, falling short of Wall Street's expected $573.0 million in revenue. 

In the previous year, the company posted earnings of 66 cents per share with $581.96 million in revenue for the second quarter. 

The 17% decrease in revenue may be due to an abnormally low table hold games percentage at the company's L'Auberge and Ameristar East Chicago businesses, Pinnacle Entertainment said in a statement. The company estimates low table hold games impacted revenue by about $9 million. 

Additionally, adjusted EBITDAR increased 1.7% year-over-year to $157 million, despite also being impacted by low table hold games percentage. 

Pinnacle Entertainment said its acquisition of The Meadows Casino and Racetrack should be closed by September, pending regulatory approvals and customary closing conditions. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate PINNACLE ENTERTAINMENT INC as a Buy with a ratings score of B-. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, reasonable valuation levels, expanding profit margins and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

You can view the full analysis from the report here: PNK

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