Penn National Gaming, Inc., announced Wednesday that it has entered into an agreement with Davric Maine Corporation and Scarborough Downs which grants Penn National Gaming an economic interest in and the exclusive rights to develop and operate any future gaming facilities that Scarborough Downs develops
Penn National Gaming announced Wednesday it will acquire three more casinos for $780 million.
Gaming machines at Charles Town Races and expansions at Mississippi casinos helped Penn National report record revenue and earnings for the second quarter ending June 30.
The owner of the Charles Town Races & Slots doesn't like the idea of adding table games to West Virginia's four racetracks, and Gov. Bob Wise isn't ready to embrace the idea either.
Penn National Gaming will proceed with a 2-for-1 split of the company's common stock on June 25.
Penn National Gaming reported record earnings and revenue for the first quarter ending March 31, but also had profits slip after a large write-off of debt.
Penn National Gaming has received permission Thursday from the West Virginia Lottery Commission to expand its slot machines at Charles Town Races by 1,500.
Penn National Gaming (Nasdaq:PENN) received about $96.1 million in net proceeds from a common stock offering of 3.35 million shares.
Penn National Gaming's public offering of 4 million shares will sell for $30.50 per share, the company announced today. The net proceeds of about $79.1 million from the offering will be used to repay debt.
Penn National reported a record fourth quarter Monday with revenue climbing 48.1% and net income jumping 105.2%. The Pennsylvania racetrack and casino company also announced it will be offering 2.5 million in additional shares of common stock, which should generate about $74 million. Another 1 million shares will be offered at the same time by the Carlino Family Trust.
Penn National Gaming reported triple digit increases in revenue and earnings for the fourth quarter ending Dec. 31. Slot machines at Charles Town Races and two Mississippi casinos fueled the growth.
Most Popular Stories
- Travis Stone Named Churchill Downs Announcer
- Old Friends to Receive Special Eclipse Award
- Bridlewood Owner Malone Purchases Ballylinch
- Casino Would Negatively Impact Finger Lakes
- Pedigree Analysis: Milwaukee Brew
- Penn Mile Tops 193-Day Penn National Schedule
- Britain's New Steroid Policy Change Delayed
- Musselman Drops Lawsuit Against Churchill
- Rodenticide Linked to Six Sudden Horse Deaths
- Slideshow: Top 10 Races of 2014