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.
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.
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.
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.
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.
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.
A racing regulator in Ohio said Aug. 21 it will be the middle of October for a decision is made on allowing Penn National Gaming Inc. to transfer the racing licenses of its two tracks to other locations.
Roughly $141 million in an escrow account has been freed up for use by the Illinois horse racing industry, according to published reports.
Penn National Gaming Inc. reported solid numbers for the second quarter of 2011 and said it expects good things from existing and potential properties despite increased competition.
With Republican Gov. John Kasich preparing to sign legislation authorizing racetrack video lottery terminals and horse industry representatives already discussing strategy, a public policy group is ready to fight the plan.
In a flurry of activity June 28 both houses of the Ohio General Assembly passed legislation allowing racetracks to apply for video lottery terminal licenses.
The Ohio House of Representatives June 23 passed legislation authorizing the relocation of racetracks that are eligible for video lottery terminal licenses.
The Ohio Roundtable, a public policy organization, said an agreement between Republican Gov. John Kasich and casino developers that includes a provision for racetrack gaming is a "clear violation" of Ohio law.
Penn National Gaming Inc. said June 16 it has a "definitive agreement" to terminate its partnership in the Maryland Jockey Club.
Penn National Gaming Inc. has submitted an application to the Maryland Racing Commission to resume operations at shuttered Rosecroft Raceway June 1.
Penn National Gaming Inc. officials said April 21 they believe if the question of racetrack video lottery terminals makes the ballot in Texas it has a good chance to pass.
The Maryland General Assembly April 11 sent a bill that provides millions of dollars to help horse racing to Gov. Martin O'Malley for his signature.
Penn National Gaming Inc. confirmed March 1 it has closed on the purchase of Rosecroft Raceway, a Maryland harness track it won in a bankruptcy auction.
Penn National Gaming Inc. is in negotiations with MI Developments to unload its 49% interest in the Maryland Jockey Club.
- By Tom LaMarra
More ramblings about things happening in horse racing, and more questions about why things happen in horse racing. Read Blog
Two of Ohio's oldest racetracks could be relocating to other Buckeye State cities if owner Penn National Gaming Inc. has its way, but the moves won't come without opposition.
Penn National Gaming Inc. will publicly inform the Ohio State Racing Commission Feb. 10 of its plans to relocate two Ohio racetracks should the state's tracks get video lottery terminals.
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.
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.
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 Maryland Jockey Club, now operated by MI Developments, will be jointly operated by Penn National Gaming Inc. upon closure of the deal, the two entities announced May 7.
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.
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