About Penn National Gaming, Inc.

This gaming company is no one-trick pony. Penn National Gaming owns, operates, and has ownership interests in almost 30 horseracing and casino gaming facilities (including several riverboats) throughout the US and in Ontario, Canada. Its casinos operate mainly under the Hollywood and Argosy names. It 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. The company also owns the M Resort near the Las Vegas Strip. In 2012 Penn National announced plans to separate its gaming operating assets and its real estate assets into two publicly traded companies.

Geographic Reach

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

Strategy

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. It also has a 50% interest in Kansas Entertainment, a joint venture with International Speedway Corporation (ISC), which opened the Hollywood Casino at Kansas Speedway in 2012.

Mergers and Acquisitions

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.

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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
www.pngaming.com

Stats

  • Employer Type: Public
  • Stock Symbol: PENN
  • Stock Exchange: NASDAQ
  • President and CEO: Timothy J. Wilmott
  • COO: Jay A. Snowden
  • President and CEO: Timothy J. Wilmott

Major Office Locations

  • Wyomissing, PA

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