Penn National Gaming Inc., which is seeking a license to build a resort casino in Maryland, has taken the bold step of announcing it will share its profits with the community in Prince George's County.
Horse racing will receive a share of gaming revenue from the casinos that will be built in Massachusetts, but during an Oct. 16 forum on the industry, stakeholders asked a question: What good is the money without racetracks?
- By Tom LaMarra
After months of internal discussion and planning, Penn National Gaming Inc. said Sept. 24 it will link major stakes at its tracks beginning in 2014.
River Downs, demolished earlier this year to make way for an integrated racing and gaming facility, plans to open in early May in 2014 and race through September, according to a request for racing dates.
Penn National Gaming Inc. reported a net loss of $12.2 million for the second quarter of 2013, compared with a profit of $69.6 million for the three months in 2012.
Penn National Gaming Inc., in partnership with another company, has submitted a plan to build a racetrack casino in Lawrence County, Pa., not far from its proposed Hollywood Mahoning Valley Race Course near Youngstown, Ohio.
The inaugural $500,000 Penn Mile June 1 helped Penn National Gaming Inc. continue a trend of sharp gains in pari-mutuel handle on "big event" programs at the company's racetracks.
Penn National Gaming Inc. has submitted a formal proposal to build a $700 million casino and resort on the grounds of Rosecroft Raceway, a harness track located just south of Washington, D.C., in Prince George's County, Md.
After months of negotiations that held up regulatory approval, the Ohio State Racing Commission May 1 signed off on plans for River Downs to move its 2013 live racing dates to Beulah Park.
The Ohio State Racing Commission April 16 once again deferred action on a proposal to transfer the River Downs meet to Beulah Park because horsemen and Penn National Gaming Inc. have no contract for the meet.
A plan to shift the 2013 River Downs meet to Beulah Park remains on hold, and developers of new racetrack gaming facilities in Ohio were told to go back to the drawing board in terms of indoor seating for racing patrons.
Companies that plan to construct new racetrack gaming facilities in Ohio have been summoned to appear before the Ohio State Racing Commission for a third time March 27.
The Ohio State Racing Commission March 20 postponed a decision on a plan to transfer summer racing dates at River Downs near Cincinnati to Beulah Park near Columbus.
Trainer Patty Burns, banned from Hollywood Casino at Charles Town Races since early 2008, has won her appeal of the ejection.
Penn National Gaming Inc. has updated its guide for horsemen to reflect sanctions against those involved with racehorses that test positive for illegal medications.
The transfer of the 2013 River Downs meet to Beulah Park could get Ohio State Racing Commission approval March 20.
The Ohio State Racing Commission March 12 continued its examination of plans for proposed racetrack casinos, peppering Penn National Gaming Inc. officials with questions about facilities planned for Dayton and Austintown.
Four men ejected from Hollywood Casino at Charles Town Races over alleged involvement in the use of "program trainers" have filed an appeal with the West Virginia Racing Commission.
The fate of a plan to transfer the 2013 River Downs meet to Beulah Park could be decided March 12.
The Ohio State Racing Commission will consider a request from River Downs to move its 2013 meet to Beulah Park, agency chairman Robert Schmitz said Feb. 6.
Penn National Gaming Inc., which has a host of projects in the works, is taking a cautious approach to 2013 in the wake of a "soft" fourth quarter in 2012, company officials said Jan. 31 during an earnings teleconference.
Penn National Gaming Inc. has signed a lease to renovate a former restaurant in Gloucester Township and turn it into New Jersey's fifth off-track wagering facility, the company announced Jan. 16.
On the day the recently forged 10-year agreement between stakeholders in the Maryland racing industry received a formal presentation before the Maryland Racing Commission, a little Christmas bonus was included.
Negotiations continued Dec. 12 among the Ohio parties involved in a possible shift of the River Downs meet to Beulah Park in 2013.
Two Pennsylvania racetrack gaming companies are among the six bidders for a license to build a non-racetrack casino in Philadelphia.
Gambling in Maryland will soon include table games such as blackjack and a casino near Washington, D.C., after voters Nov. 6 approved an expansion measure that generated an expensive political advertising campaign.
Mark Loewe has been named vice president of Ohio racing operations for Penn National Gaming Inc., subject to regulatory approvals.
Mike Newlin, general manager of Meadowlands in New Jersey, has left to take a job as general manager of the Penn National Gaming Inc.-owned Sanford-Orlando Kennel Club in central Florida.
A law expanding casino gambling in Maryland alters some tax and revenue percentages but should keep the horse racing industry whole, according to fiscal projections associated with the measure.
Penn National Gaming Inc. said Aug. 7 it will continue to offer live harness racing at Rosecroft Raceway in Maryland for two more years--if another Prince George's County location isn't chosen as the location for a casino.
The Ohio State Racing Commission July 10 began the process of transferring racing licenses from existing racetracks to new locations.
Penn National Gaming Inc. on June 30 filed requests for video lottery terminals and to relocate its two Ohio racetracks.
Penn National Gaming Inc. is preparing applications in Ohio for video lottery terminals and relocation in connection with its plan to move Beulah Park to the Youngstown area.
Penn National Gaming Inc., which owns two racetracks in Ohio, said it will run full live racing schedules at both tracks for the rest of this year and possibly next year depending on resolution of a legal challenge.
A West Virginia circuit court judge has rejected an attempt by Hollywood Casino at Charles Town Races to keep the West Virginia Racing Commission from holding hearings for individuals who want to appeal ejections.
Penn National Gaming Inc. reported net income of $78.6 million for the first quarter of 2012, up 52% from $51.5 million for the first three months of 2011.
The West Virginia Racing Commission's new procedural rules governing due process and hearings could be challenged in court, according to a letter recently received by the regulatory agency.
Penn National Gaming Inc. said March 16 it has reached an agreement with Republican Ohio Gov. John Kasich to relocate two racetracks in the state to capitalize on video lottery terminals in new markets.
Oral arguments in a lawsuit challenging video lottery terminals at Ohio racetracks have been postponed, officials said.
A judge issued an order Feb. 24 allowing several gambling interests to intervene in a lawsuit filed by the Ohio Roundtable challenging a law allowing Ohio racetracks to install video lottery terminals.
Representatives of several Ohio gambling operations testified Feb. 21 in Franklin County Common Pleas Court seeking permission to intervene in a lawsuit brought by the Ohio Roundtable.
Oral arguments on a lawsuit filed to stop the installation of video lottery terminals at Ohio racetracks has been postponed to give interested parties a chance to intervene.
Penn National Gaming Inc. now plans to request to move Beulah Park near Columbus, Ohio, to a site near Youngstown rather than Dayton, according to its latest financial report.
On the heels of signing a contract with Churchill Downs Inc. that ended a protracted stalemate, the Jockeys' Guild is preparing to launch an initiative to get other tracks to enter into agreements with the organization.
A panel of arbitrators has ruled that a trainer at Hollywood Casino at Charles Town Races in West Virginia was discriminated against when the track refused to grant him stalls in December 2009.
Gov. John Kasich signed another executive order Oct. 20 that allows the Ohio State Racing Commission to adopt regulations governing eligibility for racetracks to install video lottery terminals and to request relocation.
If the Ohio Supreme Court were to rule that video lottery terminals can't be installed at racetracks in the state, attempts to move tracks to new locations would be dropped.
Penn National Gaming Inc. is making its case for gaming at Rosecroft Raceway, the Maryland harness track it purchased earlier this year and will reopen for live racing Oct. 21.
Parties in a two-year-old case involving the ejection of seven jockeys from Hollywood Casino at Charles Town Races made their arguments Sept. 20 in the West Virginia Supreme Court of Appeals.
Racetracks and horsemen's groups in Ohio continue to wrestle over how much purses and breed development programs will receive from track-based video lottery terminals, which were legalized earlier this year.
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