A businessman who started the company that became casino and racetrack operator Penn National Gaming has died.
Penn National Gaming saw its third quarter income fall 6.3% short of guidance at $41.3 million, an 11% decline compared with the third quarter of 2012.
The Ohio State Racing Commission tabled almost all items on its agenda during its April 24 meeting in Columbus because a resolution on running this year's River Downs dates at Beulah Park has not been reached.
Executives at racetrack owner Penn National Gaming said the Ohio State Racing Commission is out of touch for requesting added seating for planned relocated racetracks in the Buckeye State.
Veteran racing official and horseman Fred Hutton has been named director of racing operations at Zia Park in Hobbs, N.M., effective March 24.
Calling them the "worst deadbeats," the Jockeys' Guild has put out a list of 10 track operators it says are most insensitive to jockey health and safety issues. A track representative disputes the accusation.
Three Thoroughbred tracks comprising much of the nighttime simulcast market over the next few months have announced a coordinated plan to reschedule their post times beginning with live racing on Dec. 26.
Wagering at Penn National Gaming's Mid-Atlantic Thoroughbred tracks continued to show signs of growth in July, with both Penn National and Charles Town reporting an increase in a
Hollywood Casino at Charles Town Races April 2 reported a record monthly all-sources pari-mutuel handle of $29,426,572 in March, while sister track Hollywood Casino at Penn National Race Course also reported wagering gains.
Rosecroft Raceway, a Maryland harness track that has been closed for live racing since 2008, is expected to reopen for simulcasting Aug. 25 under ownership of a Penn National Gaming Inc. subsidiary.
The Maryland Jockey Club has filed reports with the Maryland Racing Commission showing that Pimlico Race Course, home of the Preakness Stakes (gr. I), incurred rare losses in 2008 and 2009.
Penn National Gaming, Inc., announced Feb. 28 it has entered into a marketing alliance with TVG.
Christopher McErlean, vice president of racing for Penn National Gaming, was elected the 35th president of the Thoroughbred Racing Associations at its annual board of directors' meeting Feb. 22.
The co-owner of Maryland's race tracks is trying to secure a deal that would provide 140 days of live racing in 2011.
The owners of Laurel Park and Pimlico intend to submit a plan to the Maryland Racing Commission to conduct 77 days of live racing during the first half of the 2011 season.
The head of the company that co-owns Pimlico Race Course and Laurel Park said Dec. 2 that he will try to break the impasse threatening the future of the Preakness Stakes (gr. I) when he travels to Maryland next week.
With an eye toward expanded gaming in Texas, Penn National Gaming, Inc. is assuming a 50% ownership interest in Sam Houston Race Park and two other pari-mutuel facilities in the Lone Star state.
Only Malaysian-based Genting New York remains a viable candidate but its selection to run a casino at Aqueduct is far from certain.
Three companies met the 4 p.m. EDT June 29 deadline to submit financial offers to run a casino at Aqueduct.
A politically-wired lobbyist for a bidding group that initially won the development rights to the Aqueduct casino project was provided details about competitors' bids by the top Democrat in the New York state Senate.
- By Tom Precious
New York state officials are preparing as early as this week to release new bid proposals for the delayed Aqueduct casino project, with a winner expected to be selected possibly by the end of June.
The parent of track owner Magna Entertainment Corp. has agreed to buy its Maryland assets, which include Laurel Park and Pimlico.
Las Vegas casino executive Steve Wynn has pulled out of the running for the long-stalled Aqueduct casino project, sources said Nov. 4.
- By Tom Precious
The six bidding groups vying for the Aqueduct casino rights have been asked to submit their "final" offers -- again -- to the state of New York, along with a new promise for a large and quick payment.
- By Tom Precious
Gov. David Paterson and New York legislative leaders met behind closed doors Oct. 29 in Manhattan to try to resolve the selection of an operator for the long-stalled Aqueduct video lottery terminal casino project.
On a day where Penn National Gaming reported a $40.66 million profit for the first quarter of 2009, executives criticized recent reports the company was pursuing multiple casino properties in Las Vegas.
After absorbing a $378.6-million loss in 2008's fourth quarter alone, Penn National Gaming Inc. posted an annual loss of $153.3 million for the year, and said while it isn't "enthused" about developing a potential new slots facility in Maryland, it will pursue those plans.
Shares of Magna Entertainment Corp. plummeted by more than 50% on heavier than average volume Sept. 30, prompting more concern for the owner of the site of next month's Breeder' Cup World Championships.
A Maryland attorney who is a shareholder of Penn National Gaming Inc. has filed a styled class-action lawsuit against the publicly-traded gaming company and certain of its executives over the failed buyout attempt by two investment entities.
Penn National Gaming Inc. said Feb. 7 fourth-quarter profit fell 63%, and the company blamed the losses in part on inclement weather at some of its largest properties.
- By James Platz
By James Platz - While not a surprise, Churchill Downs' decision to sell Hoosier Park reflects on the health of the Indiana racing industry.
Christopher M. McErlean is resigning as vice president of racing operations with New Jersey Sports & Exposition Authority to join Penn National Gaming Inc., as vice president of racing next month.
Penn National Gaming officials reported substantial gains for the first quarter ending March 31, 2006. The Pennsylvania-based racetrack and casiono company showed a 128% rise in post-EBITDA earnings, reporting$164.8 million for the period.
A second group has announced plans to seek a constitutional amendment to place a vote on video slots at racetracks in Ohio on the November ballot.
In the aftermath of Hurricane Katrina, which struck the Mississippi Gulf Coast on Monday, Aug. 29, Penn National Gaming, Inc. announced today Thursday it has established a toll-free employee assistance 'Hotline' (1-800-598-0756) for its displaced employees at the company's Casino Magic-Bay St. Louis and the Boomtown Biloxi Casino.
Charles Town Races and Slots in West Virginia has announced the cancellation of its live racing program scheduled for Thursday, Sept. 30, after stopping its Sept. 29 card short after just four recorded races.
Live racing at Charles Town Races and Slots in West Virginia returned Saturday, Sept. 25 after a 12-day hiatus in which the track was forced to cancel eight days their live racing program. The facility was open for simulcasting during the respite.
Three finalists for a dormant casino gaming license in Illinois currently held by bankrupt Emerald Casino Inc. were named by the state gaming board Wednesday.
Bid amounts were announced for a dormant Illinois casino license, with Penn National Gaming submiting the highest offer.
Management and horsemen at Charles Town Races are discussing plans to expand the six-furlong racing surface and perhaps hold races at neighboring Shenandoah Downs during the upgrade.
With both gubernatorial candidates supporting slot machines at racetracks, a flurry of applications for new licenses were presented to the Pennsylvania State Racing Commission last week in anticipation of the expanded gaming revenue.
The former president of Pocono Downs has a plan to bring Standardbred racing back to the Delaware Valley, but some view his proposal as an attempt to cash in on slot machines should the Pennsylvania legislature approve such a measure.
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.
Racetrack and casino operator Penn National Gaming is reportedly in talks to buy one of its smaller casino rivals, Hollywood Casino Corp.
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 will pay a $1 million settlement to a Las Vegas casino company that was suing over the casino rights to Charles Town Races.
Penn National Gaming stock has been down about $1 per share Tuesday on speculation it may be a potential buyer of a $400 million casino company.
Magna Entertainment announced Friday it plans to proceed with an offering of 20 million shares of Class A stock.
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