About Penn National Gaming, Inc.

Penn National Gaming is a large and diversified gaming company. It owns, operates, and has ownership interests in more than 25 horse racing and casino gaming facilities (including several riverboats) throughout the US and in Ontario, Canada. Penn National Gaming's casinos operate mainly under the Hollywood and Argosy names. Its race track facilities include Raceway Park in Toledo, Ohio; Hollywood Casino at Charles Town Races in West Virginia; and Hollywood Casino at Penn National Race Course outside of Harrisburg, Pennsylvania. Penn National Gaming also owns the M Resort near the Las Vegas Strip.

Geographic Reach

The company operates facilities in Florida, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario.

Financial Performance

The company's revenue was $2.8 billion in fiscal 2015. That was an increase of 10% (almost $250 million) compared to the previous fiscal period. Even with billions in revenue, Penn National's net income was a mere $600,000 in fiscal 2015. That was, however, an improvement compared to the $183.8 million net loss the company suffered in fiscal 2014.

Despite the meager net income, Penn National ended fiscal 2015 with almost $400 million in cash on hand from operations (an increase of $136.7 million compared to fiscal 2014 cash levels).


Penn National's strategy is to acquire and develop new properties in attractive regional US markets, such as Ohio and Maryland. It relies on cash flow from its properties, mainly cash from slot machines and race wagering, to repay debt that it has incurred from making significant acquisitions over the years and to fund capital projects and maintenance at new and existing properties.

Penn National has also been forming joint ventures to further expand its operations in several markets. It formed a joint venture with Sam Houston Race Park to own and operate three Texas racing facilities: the Sam Houston Race Park in Houston, the Valley Race Park in Harlingen, Texas, and a planned racetrack in Laredo, Texas.

The company has also closed or sold off less profitable assets. In 2014 it closed Argosy Casino Sioux City (part of its Southern Plains segment).

Mergers and Acquisitions

In 2015 Penn National agreed to purchase The Tropicana hotel and casino in Las Vegas for $360 million. The Tropicana recently completed a $200 million renovation to its 1,500 hotel rooms and other parts of the property. The deal, which is expected to close later this year, gives Penn National its first property on the Las Vegas Strip.

During 2014 the company purchased the Plainridge Race Course in Massachusetts. Previous significant acquisitions made by Penn National include its 2012 purchase of the Harrah's St. Louis gaming and lodging facility from Caesars Entertainment for about $610 million. In 2011 Penn National acquired M Resort in Henderson, Nevada in exchange for its debt. The M Resort deal gave Penn National entry into the Las Vegas gaming market. The M Resort is about 12 miles from the Las Vegas Strip.

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Penn National Gaming, Inc.

825 Berkshire Blvd #200
Wyomissing, PA 19610-1247
Phone: 1 (610) 373-2400
Fax: 1 (610) 373-4966


  • Employer Type: Public
  • Stock Symbol: PENN
  • Stock Exchange: NASDAQ
  • CEO and Director: Timothy J. Wilmott
  • President and COO: Jay A. Snowden
  • CEO and Director: Timothy J. Wilmott
  • 2016 Employees: 18,808

Major Office Locations

  • Wyomissing, PA

Other Locations

  • Longwood, FL
  • Sioux City, IA
  • Joliet, IL
  • Kansas City, KS
  • Baton Rouge, LA
  • Bangor, ME
  • Biloxi, MS
  • Robinsonville, MS
  • Columbus, OH
  • Carbondale, PA
  • Grantville, PA
  • Lancaster, PA
  • York, PA
  • Charles Town, WV
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