An offering of 20 million shares of Magna Entertainment (Nasdaq:MIEC) was priced at $6.65 Thursday through underwriters Bear Stearns. The update on the offering caused the company's stock to rise as much as 13.4 percent during trading on Friday.
Scientific Games, the parent company to Autotote, announced Friday it has filed the necessary paperwork for an offering of 12,500,000 shares of Class A common stock.
Magna Entertainment announced Friday it plans to proceed with an offering of 20 million shares of Class A stock.
Penn National Gaming (Nasdaq:PENN) received about $96.1 million in net proceeds from a common stock offering of 3.35 million shares.
Penn National Gaming's public offering of 4 million shares will sell for $30.50 per share, the company announced today. The net proceeds of about $79.1 million from the offering will be used to repay debt.
Penn National reported a record fourth quarter Monday with revenue climbing 48.1% and net income jumping 105.2%. The Pennsylvania racetrack and casino company also announced it will be offering 2.5 million in additional shares of common stock, which should generate about $74 million. Another 1 million shares will be offered at the same time by the Carlino Family Trust.
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