Two and half months after entering into an agreement to buy Rosecroft Raceway in Maryland from Penn National Gaming Inc., The Stronach Group announced Aug. 2 it has closed the deal.
Penn National Gaming reported increases in revenue, income from operations, and adjusted earnings for its second quarter but the racetrack, casino, and hotel owner noted those increases finished below guidance.
A computer glitch linked to United Tote resulted in more than $100,000 in bogus wagers pouring into a daily double pool in late April at Plainridge Park, a Massachusetts Standardbred track.
Hollywood Gaming at Mahoning Valley Race Course has requested and received approval from the Ohio Racing Commission to add a pair of live racing days to the current racing season.
Racetrack and casino owner Penn National Gaming Inc. reported a 9.6% increase in net revenues for 2015 compared with 2014.
- By Frank Angst
- Thoroughbred Racing, Northeast Region, Midwest Region, West Region, Mid-Atlantic Region
Penn National Gaming Inc. reported strong financial numbers for the first three months of 2015 that it attributed to improving regional gaming trends and contributions from new racino properties in Ohio.
Six Pennsylvania lawmakers have sent a letter to the state Attorney General's office requesting a criminal investigation of racetrack owner Penn National Gaming Inc.
New York state, in its greatest expansion of gambling, has selected three winning bidders to operate full commercial casinos in separate areas of the state but rejected proposals by Genting Americas and Churchill Downs, Inc.
Hollywood Gaming at Mahoning Valley Racecourse kicks off its inaugural racing season Monday, Nov. 24, with an eight-race program that begins at 12:45 p.m. EST.
Penn National Gaming announced Sept. 19 that its board of directors has appointed the company's chief executive officer, Timothy Wilmott, to the board effective immediately.
Genting Americas said April 23 it is jumping into the increasingly crowded field to try to win a license to open a full-scale casino resort in New York state.
Eric Johnston, currently vice president of racing/racing secretary at Sam Houston Race Park, has been named director of racing operations for Hollywood Casino at Penn National Race Course.
Penn National Gaming announced that HRTV will provide television coverage for the remaining five events in the 2014 Penn Gaming Racing Challenge as well as the West Virginia Breeders' Classics.
Penn National Gaming announced that the Horse Racing Radio Network will become the exclusive radio home for the remaining five events in the 2014 Penn Gaming Racing Challenge.
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.
- By Ryan Conley
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.
- By Ryan Conley
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.
- By Pete Spanos
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.
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