Center for Gaming Research
UNLVGamingReseach on Facebook UNLVGaming on Twitter
UNLV
Penn National Gaming Company Profile

Penn National Gaming, incs. is a multi-jurisdictional owner and operator of gaming properties, as well as horse racetracks and associated off-track wagering facilities, or OTWs.

The Company was incorporated in Pennsylvania in 1982 as PNRC Corp. and adopted its current name in 1994. In 1997, it began a transition from a pari-mutuel company to a diversified gaming company with the acquisition of the Charles Town property and the introduction of video lottery terminals in West Virginia.

Penn National Gaming owns and operates casino gaming, horse racing and off-track wagering facilities with a focus on slot machine entertainment. Penn presently operates twenty-five facilities in thirteen jurisdictions including Colorado, Illinois, Indiana, Iowa, Louisiana, Maryland, Mississippi, Missouri, New Jersey, Maine, Pennsylvania, West Virginia and Ontario, Canada. In aggregate, Penn's facilities feature over 21,000 slot machines, 445 table games, 1675 hotel rooms and nearly 3 million square feet of facilities. With over 16,000 employees, and revenues exceeding $2 billion, Penn National Gaming is the 3rd largest US gaming company.

Penn National Gaming History

1972: Penn National Race Course opens in Grantville, Pennsylvania

1983: Penn begins using telephone account wagering

1991: Penn opens its first Off-Track Wagering Faclity (OTW) in Erie, Pennsylvania

1994: Penn National Gaming becomes a publicly-traded company

1996: Penn purchases Pocono Downs and OTW

1997: Penn purchases Charles Town Races (West Virginia), installs slots, and renames in Charles Town Races and Slots

1999: Penn buys 50% ownership in Freehold (New Jersey) Racetrack

2000: Penn acquires Casino Magic Bay St. Louis and Boomtown Biloxi (Mississippi)

2001: Penn acquires Casino Rouge (Baton Rouge, Louisiana) and management contract for Casino Rama (Ontario, Canada)

2002: Penn acquires Bullwhackers Casino (Black Hawk, Colorado)

2002: Casino Magic Bay St. Louis adds new hotel tower; new hotel opens at Casino Rama; Charles Town expansion adds casino space, restaurants, and garage

2003: Penn acquires Hollywood Casinos Corp., and its casinos in Aurora, Illinois, Shreveport, Louisiana, and Tunica, Mississippi

2003: Phase Two expansion at Charles Town finished; Bullwhackers renovation completed

2004: Penn acquires Bangor Race Track (Maine)

2005: Penn sells Pocono Downs and its OTWs

2005: The Park at Charles Town Races and Slots opens, bringing slot count to 4,400

2005: Penn sells the Hollywood Casino Shreveport

2005: Penn acquires Argosy Gaming, including casinos in Illinois, Indiana, Iowa, and Missouri

2005: Penn opens Hollywood Slots at its Bangor (Maine) racetrack

2006: Penn National Gaming failed in an attempt to acquire Harrah's Entertainment.

2007: Penn National Gaming acquired Zia Park & Black Gold Casino in Hobbs, New Mexico for $200 million

2009: Selected to develop Hollywood casino and destination facility at Kansas Speedway

2010: Penn acquires Beulah Park racetrack in Grove City, Ohio

2010: Penn opens Hollywood Casino Perryville, Maryland's first slots facility, on September 27.

2010: Penn buys the debt of the M Resort in Las Vegas, Nevada.

2012: Hollywood Casino Toledo opens

2012: Hollywood Casino Columbus opens

2012: Penn buys Caesars Entertainment's Harrah's St. Louis for $610 million

2013: Bullwhackers (Colorado) sold

2013: Penn separates the majority of its operating assets into an operating entity, Penn, and a REIT, GLPI

Penn National Gaming: Current Properties

Casinos

Argosy Alton (Alton, Illinois)

Argosy Riverside (Riverside, Missouri)

Argosy Sioux City (Siox City, Iowa)

Boomtown Biloxi (Biloxi Mississippi)

Casino Magic--Bay St. Louis (Bay St. Louis, Mississippi)

Casino Rouge (Baton Rouge, Louisiana)

Empress Casino (Joliet, Illinois)

Hollywood Casino Aurora (Aurora, Illinois)

Hollywood Lawrenceburg (Lawrenceburg, Indiana)

Hollywood Casino Perryville

Hollywood Casino Tunica (Tunica, Mississippi)

Hollywood Casino Toledo (Ohio)

Hollywood Casino Columbus (Ohio)

Operates

Casino Rama (Ontario, Canada--manages only)

Racetracks with Slots

Charles Town Race and Slots (Charles Town, WV)

Hollywood Slots and Bangor Raceway/OTB (Bangor, Maine)

Black Gold Casino at Zia Park (Hobbs, New Mexico)

Hollywood Casino at Penn National Race Course (Grantville, Pennsylvania)

Non-Slot Racetracks

Freehold Raceway (Freehold, New Jersey)

Raceway Park (Toledo, Ohio)

Sanford-Orlando Kennel Club (Longwood, Florida)

Off-Track Wagering Facilities (Pennsylvania)

Chambersburg

Johnston

Lancaster

Reading

Williamsport

York

Account Wagering Services

e-Bet

Telebet

Penn National: Financial Info online

Publicly-accessible sites

Google Finance profile

Yahoo company profile

Reuters company profile

InvestorGuide company profile

Penn National Investor Relations

SEC filings (PENN Site) | SEC filings (finance.yahoo)

Annual Reports (199-2004)

For more detailed information, check out these databases. Note: use is restricted to current UNLV faculty, staff, and students.


Follow UNLVgaming on Follow unlvgaming on Twitter Twitter and UNLVGamingResearch on Facebook

© 2016 University of Nevada, Las Vegas. Do not copy or reuse without permission.


Last modified Wednesday, 21-May-2014 14:23:11 PDT