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PNGI Still in Hunt for Aqueduct VLT Contract?

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.

PNGI 'Not Enthused' About Maryland Slots

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.

PNGI Seeks Dismissal of Shareholder Suit

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.

Penn Takes Stand on Equine Health

Penn Takes Stand on Equine Health

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.

PNGI Terminates Merger Agreement

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.

Barred Horseman Seeks State Office

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.

Has Barred Couple Hit a Dead End?

Has Barred Couple Hit a Dead End?

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.

PNGI Won't Purchase Maryland Track

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.

Surface Woes Lead to Penn National Cancellations

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.

Legislator Advocates Changes at Charles Town

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.

Charles Town HBPA Has New Contract

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.

Tribe Has Deal to Buy Track From Penn National

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.

Conflict Over Charles Town Project Resurfaces

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.

Penn National Looks to Buy Maine, New York Harness Tracks

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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.

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