Penn National Gaming reported increases in revenue, income from operations, and adjusted earnings for its second quarter but the racetrack, casino, and hotel owner noted those increases finished below guidance.
The Stronach Group May 16 said it has entered into an agreement to purchase Rosecroft Raceway, one of two harness tracks in Maryland and a major off-track wagering outlet for Thoroughbred racing, from owner Penn National Gaming Inc.
Racetrack and casino owner Penn National Gaming Inc. reported a 9.6% increase in net revenues for 2015 compared with 2014.
- By BloodHorse Staff
- Thoroughbred Racing, Northeast Region, Midwest Region, Southwest Region, Mid-Atlantic Region
The Penn Gaming Racing Challenge, which links major races at tracks owned by Penn National Gaming Inc., will contest its fifth and final leg of the year at three racetracks Thanksgiving week.
Racetrack and casino owner Penn National Gaming Inc. reports third quarter financials better than guidance offered earlier this year.
A former president of the Charles Town Horsemen's Benevolent and Protective Association who was barred from Hollywood Casino at Charles Town Races for almost 10 years has won his appeal for reinstatement.
Pinnacle Entertainment, which owns Belterra Park in Ohio and more than 10 other casinos in the United States, has confirmed it has received a proposal from Gaming and Leisure Properties to acquire its real estate assets.
The West Virginia Racing Commission, as part of an investigation into a head-on collision during a Dec. 13 race at Hollywood Casino at Charles Town Races, said it will look into funding to pay for an independent review.
Owners Ken and Sarah Ramsey, trainer Chad Brown, and jockey Javier Castellano finished atop the standings in the inaugural Penn Gaming Racing Challenge, which concluded Nov. 29.
Hollywood Gaming at Mahoning Valley Race Course held its first-ever racing program Nov. 24 before a fairly large crowd on a wild weather day in northeastern Ohio.
Hollywood Gaming at Mahoning Valley Race Course opened its barn area and dirt racing surface for training as scheduled Nov. 10 in advance of a Nov. 24 opening day.
The Supreme Court of Appeals in West Virginia has ruled the state racing commission has the power to place the burden of proof on racetracks should they choose to eject permit-holders from their facilities.
Though Hollywood Gaming at Mahoning Valley Race Course in Ohio is open for business, construction continues on the stable area in advance of the scheduled Nov. 24 launch of Thoroughbred racing.
Owners Ken and Sarah Ramsey, trainer Chad Brown, and jockey Javier Castellano remained at the top of the standings of the Penn Gaming Racing Challenge after action Sept. 20 at Hollywood Casino at Charles Town Races.
Despite a 14.3% decrease in net revenue, Penn National Gaming Inc. July 24 reported net income of $2.8 million for the second quarter of this year versus a $12.2 million loss for the same three months of 2013.
Penn National Gaming Inc. will open a new off-track wagering facility in southern New Jersey July 2. It will be the fifth OTW facility in New Jersey.
Beulah Park, which ended live horse racing for good May 3, has partnered with Jennings Auction Group to sell the assets of its Grove City, Ohio, property.
Gaming and Leisure Properties, a real estate investment trust spinoff of Penn National Gaming Inc., said May 14 it has an agreement to purchase The Meadows Racetrack and Casino in western Pennsylvania for $465 million.
Hollywood Gaming at Mahoning Valley Race Course received a racing permit from the Ohio State Racing Commission March 27 and plans to offer 21 days of Thoroughbred racing this fall.
The Ohio Horsemen's Benevolent and Protective Association has signed 10-year racing agreements with the under-construction Hollywood Gaming at Mahoning Valley Race Course and ThistleDown Racino, formerly known as Thistledown.
The struggling Massachusetts harness racing industry received a huge boost Feb. 27 when the Massachusetts Gaming Commission selected Penn National Gaming proposal to build a slots parlor at Plainridge Race Course.
Penn National Gaming Inc. and the Ohio Horsemen's Benevolent and Protective Association have reached an agreement in regard to the under-construction Youngstown-area racetrack that will replace Beulah Park.
- By Tom LaMarra
Penn National Gaming Inc. officials said Feb. 6 they don't believe a roughly $100 million decline in net revenue is associated with customers opting for other forms of gambling or entertainment.
Construction of a new racetrack gaming facility in the Mahoning Valley is well under way, but the track's owner and the Ohio State Racing Commission continued a battle over a commitment on the number of stalls Jan. 23.
Hollywood Casino at Penn National Race Course posted a record daily average pari-mutuel handle for its 197-night meet in 2013, a track official said Dec. 30.
MGM Resorts International has won a three-way race for a license to build a resort casino in Prince George's County, Md., just south of Washington, D.C. And the future of a racetrack remains up in the air.
Penn National Gaming Inc., which is seeking a license to build a resort casino in Maryland, has taken the bold step of announcing it will share its profits with the community in Prince George's County.
- By Tom LaMarra
After months of internal discussion and planning, Penn National Gaming Inc. said Sept. 24 it will link major stakes at its tracks beginning in 2014.
River Downs, demolished earlier this year to make way for an integrated racing and gaming facility, plans to open in early May in 2014 and race through September, according to a request for racing dates.
Penn National Gaming Inc. reported a net loss of $12.2 million for the second quarter of 2013, compared with a profit of $69.6 million for the three months in 2012.
Penn National Gaming Inc., in partnership with another company, has submitted a plan to build a racetrack casino in Lawrence County, Pa., not far from its proposed Hollywood Mahoning Valley Race Course near Youngstown, Ohio.
The inaugural $500,000 Penn Mile June 1 helped Penn National Gaming Inc. continue a trend of sharp gains in pari-mutuel handle on "big event" programs at the company's racetracks.
Penn National Gaming Inc. has submitted a formal proposal to build a $700 million casino and resort on the grounds of Rosecroft Raceway, a harness track located just south of Washington, D.C., in Prince George's County, Md.
After months of negotiations that held up regulatory approval, the Ohio State Racing Commission May 1 signed off on plans for River Downs to move its 2013 live racing dates to Beulah Park.
A plan to shift the 2013 River Downs meet to Beulah Park remains on hold, and developers of new racetrack gaming facilities in Ohio were told to go back to the drawing board in terms of indoor seating for racing patrons.
Companies that plan to construct new racetrack gaming facilities in Ohio have been summoned to appear before the Ohio State Racing Commission for a third time March 27.
The Ohio State Racing Commission March 20 postponed a decision on a plan to transfer summer racing dates at River Downs near Cincinnati to Beulah Park near Columbus.
Trainer Patty Burns, banned from Hollywood Casino at Charles Town Races since early 2008, has won her appeal of the ejection.
Penn National Gaming Inc. has updated its guide for horsemen to reflect sanctions against those involved with racehorses that test positive for illegal medications.
The transfer of the 2013 River Downs meet to Beulah Park could get Ohio State Racing Commission approval March 20.
The Ohio State Racing Commission March 12 continued its examination of plans for proposed racetrack casinos, peppering Penn National Gaming Inc. officials with questions about facilities planned for Dayton and Austintown.
Four men ejected from Hollywood Casino at Charles Town Races over alleged involvement in the use of "program trainers" have filed an appeal with the West Virginia Racing Commission.
The fate of a plan to transfer the 2013 River Downs meet to Beulah Park could be decided March 12.
The Ohio State Racing Commission will consider a request from River Downs to move its 2013 meet to Beulah Park, agency chairman Robert Schmitz said Feb. 6.
Penn National Gaming Inc., which has a host of projects in the works, is taking a cautious approach to 2013 in the wake of a "soft" fourth quarter in 2012, company officials said Jan. 31 during an earnings teleconference.
Penn National Gaming Inc. has signed a lease to renovate a former restaurant in Gloucester Township and turn it into New Jersey's fifth off-track wagering facility, the company announced Jan. 16.
Negotiations continued Dec. 12 among the Ohio parties involved in a possible shift of the River Downs meet to Beulah Park in 2013.
Two Pennsylvania racetrack gaming companies are among the six bidders for a license to build a non-racetrack casino in Philadelphia.
Gambling in Maryland will soon include table games such as blackjack and a casino near Washington, D.C., after voters Nov. 6 approved an expansion measure that generated an expensive political advertising campaign.
Mark Loewe has been named vice president of Ohio racing operations for Penn National Gaming Inc., subject to regulatory approvals.
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