Penn National Gaming Inc. said 10 of its 15 gaming properties increased net revenue and that it intends to "expand its presence to any jurisdiction considering the expansion of gaming."
- By Tom LaMarra
Penn National Gaming Inc. believes racetrack gaming can be a major economic driver but shouldn't be viewed as a means to increase pari-mutuel wagering on racing, company president Peter Carlino said.
A U.S. District Court judge in Maryland Feb. 2 upheld the purchase of shuttered Rosecroft Raceway by Penn National Gaming Inc., which operates a casino in the state and owns 49% of the Maryland Jockey Club.
Penn National Gaming Inc. will pay $10.25 million for the shuttered Maryland harness racetrack.
Penn National Gaming Inc. confirmed Jan. 21 there is a possibility it may attempt to relocate one or both of its Ohio racetracks to avoid competition with full-scale casinos the company is building nearby.
The Maryland General Assembly convenes Jan. 12 for a session expected to include aid for horse racing, but action on the expansion of gambling is questionable.
Quarantine measures have been implemented at Beulah Park in Ohio with horses being tested for possible equine herpesvirus.
A horsemen's representative acknowledged Dec. 21 there's still a little more than a week to get a racing schedule in place in Maryland for 2011, but he said chances are slim if the situation isn't resolved before Christmas.
With Maryland racing in limbo for 2011, trainers based in the state could soon be faced with a simple but important question to answer: Where will they race their horses?
Racing in Maryland for 2011 is in limbo after the Maryland Racing Commission Nov. 29 rejected a plan submitted by the Maryland Jockey Club and also rejected owner MI Developments' plan to sell 49% of the tracks to PNGI.
With a Dec. 1 deadline on racing dates looming, Maryland horsemen are advocating a schedule similar to that of 2010 even though a shutdown of Laurel Park for live racing and training is on the table.
The Maryland Jockey Club will map out a plan for the future over the next several weeks and the closure of Laurel Park for live racing and training remains a real possibility, officials said Nov. 3.
Beulah Park, which has changed hands several times in its long history, will open its 2010-11 meet Oct. 12 under the new ownership of Penn National Gaming Inc.
After 23 years at Beulah Park in Ohio, Mike Weiss has formed his own consulting business with a focus on horse racing, concerts, and events.
Penn National Gaming Inc. said July 1 it has closed on two key deals: the purchase of Beulah Park in Ohio, and its investment in a joint venture with MI Developments in the Maryland Jockey Club.
A gaming and racing company with interests in Ohio said it believes a 2009 governor's directive for racetracks to install video lottery terminals can move ahead.
The Buckeye State welcomed two new racetrack operators June 23 as the Ohio State Racing Commission approved the sale of both Beulah Park and Thistledown, which are to be purchased by casino companies.
Penn National Gaming Inc. said June 17 it has sued Greenwood Racing -- its partner in Freehold Raceway -- over its failure to build an off-track betting parlor in Camden County, N.J.
The Ohio Supreme Court unanimously ruled April 30 it's not illegal for Secretary of State Jennifer Brunner to try to determine the parties behind an organization that challenged a 2009 directive on racetrack gaming.
Prediction from a few racing industry executives: If you're a racetrack without slot machines, you're doomed.
The Ohio State Racing Commission met with four representatives from Penn National Gaming Inc. April 20 to question them on the proposed purchase of Beulah Park in Grove City, Ohio.
Penn National Gaming Inc. has adopted a policy that punishes horsemen that sell horses for slaughter.
Penn National Gaming Inc. said March 8 that it has entered into a definitive agreement to purchase Beulah Park in Grove City, Ohio.
Beulah Park in central Ohio is poised to be, or has been, sold to Penn National Gaming Inc., according to Ohio racing industry representatives.
A battle over purse supplements for a New Jersey harness track that dates back to 2008 was resolved with the Feb. 6 announcement that purses at Freehold Raceway will increase by almost $5 million over the next year.
The West Virginia Racing Commission voted unanimously Dec. 7 to pursue an appeal of a ruling by a circuit court that said it can't conduct hearings into exclusion cases at Charles Town Races & Slots.
Hollywood Casino at Penn National Race Course is poised to become the next track to tighten its racing schedule to conserve purse money and promote larger fields.
All five remaining bidders for the Aqueduct gaming project said they have met a Nov. 6 deadline to guarantee a quick $200-million payment to the state of New York if they are chosen to develop the video lottery terminal casino at the Queens racetrack.
Ohio voters Nov. 3 approved casinos on the fifth try by gambling supporters in the past two decades, and Democratic Gov. Steve Beshear immediately issued a statement saying Kentucky must respond.
Penn National Gaming Inc. officials Oct. 21 advocated their proposal for casino gambling in Ohio's four largest cities -- an issue that will be decided via referendum Nov. 3.
A West Virginia court has ruled the state racing commission is prohibited from conducting hearings on racetrack exclusions because it "lacks the authority to unilaterally reinstate an ejected permit-holder over the objection of a racing association."
Pro-racetrack gaming forces in Ohio have taken a strong stand in opposition to a November referendum on full casino gambling in the state's four largest cities.
Penn National Gaming Inc., believed to be facing an uphill battle in the bidding wars to develop a video lottery terminal casino at Aqueduct, has offered the cash-starved New York state government $250 million in a non-contingency, upfront payment for the exclusive contract and believes it's still in the hunt for the project.
A Delaware bankruptcy judge approved the sale of Magna Entertainment Corp.-owned Thistledown in Ohio to Harrah's Entertainment for $89.5 million and Remington Park in Oklahoma City for $80.25 million to a Chickasaw Nation subsidiary. An agreement also has been reached to sell Lone Star Park for $27 million.
- By Tom LaMarra
The Chickasaw Nation appears well on its way to purchasing Remington Park in Oklahoma from Magna Entertainment Corp., but the fate of other MEC racetrack holdings is fuzzy at best.
A document submitted Sept. 1 suggests Penn National Gaming Inc. is underwriting an effort to overturn racetrack video lottery terminals legalized by Democratic Gov. Ted Strickland and the Ohio legislature in July, but the Pennsylvania-based company said the information is false.
The Ohio State Racing Commission voted Aug. 20 to officially oppose a November referendum to authorize full casino gambling in the state's four largest cities.
Penn National Gaming, Inc. said Aug. 6 it will request to hold a special December referendum for table games at Charles Town Races & Slots.
Speculation abounds in Ohio, where casino companies are examining racetracks for possible purchase and a deal on revenue from video lottery terminals for purses hasn't been hammered out.
TVG and Penn National Gaming Inc. have reached a two-year deal in which the network will broadcast and offer wagering on races from tracks owned by the company. TVG began broadcasting PNGI races Aug. 1.
- By Tom LaMarra
Penn National Gaming Inc. officials see upside to an expansion of gambling in Ohio, but said they have no idea how it will shake out.
No ruling was issued July 8 after a hearing in the ongoing exclusion case involving horsemen at Charles Town Races & Slots in West Virginia.
A United Tote official said June 8 the company is working with Hollywood Casino at Penn National Race Course on tote communications failures that have led the track to stop taking wagers when the first horse is loaded into the starting gate for each race.
Two jockeys suspended at Charles Town Races & Slots picked up mounts at the West Virginia track April 18 in the wake of a court order allowing them to access the grounds and to compete in races pending a hearing.
The right of racetrack exclusion is being tested in West Virginia, where Charles Town Races & Slots is seeking to keep the state racing commission from holding hearings to consider granting three individuals reinstatement to the facility.
In anticipation of a push by a consortium for casino gambling in Ohio's four largest cities, the Ohio State Racing Commission is formulating its own legislative proposal for video lottery terminals at the state's seven racetracks.
A Penn National Gaming Inc. official said the company doesn't plan to ask voters this year to approve table games at Charles Town Races & Slots in West Virginia.
- By Ryan Conley
Penn National Gaming Inc. has asked a Maryland federal court to dismiss a lawsuit brought against the company for alleged securities violations inherent to its failed buyout deal earlier this year, claiming the legal action is an attempt by the plaintiffs to recover bad investment decisions.
An ugly dispute over purse supplements for a New Jersey harness track could have long-term ramifications as officials devise a plan for the future of horse racing in the Garden State, and it also sheds light on the complications that can arise when racing and gaming are linked.
Issues surrounding a $90-million purse subsidy from Atlantic City casinos continue to plague the New Jersey horseracing industry.
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