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."
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.
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.
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.
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.
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.
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.
Issues surrounding a $90-million purse subsidy from Atlantic City casinos continue to plague the New Jersey horseracing industry.
Charles Town Races & Slots is the newest member of the Thoroughbred Racing Associations, the racetrack trade group announced Oct. 7.
Penn National Gaming Inc., second only to Magna Entertainment Corp. in terms of number of racetrack holdings in North America, said July 15 it has developed equine health and safety initiatives it hopes implement at all of its properties in six jurisdictions.
Penn National Gaming Inc. said July 7 it has secured an exclusive 18-month option to purchase about 36 acres in Cecil County, Md., for the purpose of constructing a slot-machine casino.
Penn National Gaming Inc. has entered into an agreement with PNG Acquisition Co., an entity indirectly owned by certain funds managed by affiliates of Fortress Investment Group LLC and Centerbridge Partners, L.P., to terminate the proposed merger agreement whereby PNGI was to be acquired by PNG Acquisition Co. for $67 per share.
A horseman barred from the grounds of Charles Town Races & Slots is running for state office in West Virginia, and his opponent is a former Miss West Virginia who works for the company that excluded him.
Horsemen's groups are rallying around a couple banned from Charles Town Races & Slots in West Virginia because of what the track owner terms integrity issues.
Dick and Janene Watson were at the forefront of the rebirth of Charles Town Races when video lottery terminals began operating in the mid-1990s. But they haven't been able to race their horses for the track's gaming fueled-purses for more than two years, and perhaps might never get the chance again.
Penn National Gaming Inc. said Nov. 28 it will not purchase Rosecroft Raceway, a Maryland harness track, in light of the fact the facility will not be eligible for slot machines under legislation passed by the Maryland General Assembly.
Charles Town Races & Slots, owned by Penn National Gaming Inc., lost its bid to add table games in a June 9 referendum in Jefferson County, West Virginia.
Penn National Gaming Inc. has entered into a definitive agreement to purchase Zia Park Racetrack and its Black Gold Casino for $200 million, the company announced Nov. 7.
Kevin DeSanctis, president and chief operating officer of Penn National Gaming Inc., will leave the company by the end of this year to form establish his own company.
Following the refusal of jockeys to ride the remainder of the live card after two races had been completed Jan. 7, Penn National Race Course in Grantville, Pa., announced Jan. 9 it would cancel live racing and training for this week while attempts are made to fix "inconsistent" portions of the racing surface.
"Shannon Campbell Day" at Charles Town Races & Slots raised more than $75,000 to aid the jockey who was paralyzed in a racing accident at the West Virginia track.
A West Virginia legislator whose district includes Charles Town Races & Slots is advocating a plan to enlarge the racing surface and, if necessary, renovate dilapidated Shenandoah Downs and race there during the down time--or perhaps permanently.
Penn National Gaming Inc. reported an increase in net revenue for the first quarter of 2005 compared with the comparable period in 2004, but also showed a $2-million loss in net income.
The Charles Town Horsemen's Benevolent and Protective Association announced Jan. 7 it has signed a new contract with Penn National Gaming Inc., owner of Charles Town Races & Slots, which increases the number of live racing dates per year.
The Downs at Pocono, a Standardbred facility that held Thoroughbred meets in the 1970s, could become the first Pennsylvania racetrack owned by an Indian tribe should regulators approve a $280-million deal between Penn National Gaming Inc. and the Mohegan Tribal Gaming Authority.
Officials were meeting the morning of Oct. 1 to discuss ongoing problems with the racing surface that have led Charles Town Races & Slots in West Virginia to again cancel racing for at least another week.
Live racing at Charles Town Races & Slots in West Virginia remains up in the air as work continues to correct a reported drainage problem on a racing surface just replaced this summer.
Just weeks before work is to begin on banking the turns of the racing surface at Charles Town Races & Slots, a new organization called "The Thoroughbred Club" claims a survey reveals support for expansion of the six-furlong track to seven furlongs.
Live racing at Charles Town Races & Slots will be suspended for about three weeks in August so workers can replace the racing surface, bank the turns, and install new lighting.
Rich Orbann, president and chief operating officer of the racing division for Penn National Gaming Inc., will leave that post and instead become a consultant for the Pennsylvania-based company beginning May 7.
Penn National Gaming Inc. has entered into an agreement with Capital Seven to purchase all of the shares of Bangor Historic Track, a company that operates harness racing in Bangor, Maine. In conjunction with the purchase agreement, PNGI also secured an option to purchase the interests in Vernon Downs, a New York Standardbred track controlled by an affiliate of Capital Seven.
A long-awaited proposal for the expansion of the racing surface at Charles Town Races & Slots in West Virginia will be circulated to horsemen, some of which have expressed concerns over the plan.
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