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Penn Entertainment News
Pinnacle Entertainment planning a deal with GLPI
24 Jun 2015
Talks have been ongoing, and analysts believe a deal is likely to be signed sooner rather than later.
Casinos call IRS tax reporting proposal 'complicated, onerous and unproductive'
18 Jun 2015
Gaming industry representatives say the proposal to lower the WG-2 threshold on winnings from $1,200 to $600 would do little to generate tax revenue and much to generate extra paperwork.
Penn National names top execs for Las Vegas properties
11 Jun 2015
Former M Resort president Anthony Marnell III will take on a strategic consulting role at M Resort and the Tropicana. Penn National named Bob Sheldon the new president of M Resort.
Scientific Games announces deal with Penn National for Massachusetts casino
27 May 2015
The Plainridge Park Casino, the first casino in Massachusetts, will feature a suite of Scientific Games' devices and its play-management system, per MGC requirements.
Penn National Gaming appoints Richard St. Jean and Frank Quigley to new general manager positions
27 May 2015
Richard St. Jean has been appointed the general manager of Hollywood Casino Jamul-San Diego, while Frank Quigley has taken St. Jean's vacated position as general manager of Hollywood Casino Toledo.
IGT's losses reflect weakening state of US slot machine industry
26 May 2015
While some of the company's losses are the result of being acquired by GTECH, analysts believe that a host of other factors are also to blame.
Pinnacle Entertainment rejects union proposals
22 May 2015
Stockholders voted to reject the proposals at the company's annual meeting on Tuesday.
Inside Gaming: Purchase of Tropicana Las Vegas keeps alive Rat Pack-era name
20 May 2015
The transaction, which is expected to close by the end of the year, not only gives Penn its long sought-after address on the Strip, but keeps alive an historic name and a Rat Pack-era property.
Hooters Hotel sold to New York investment group
13 May 2015
Trinity Hotel Investors bought the off-strip property for $70 million, but it's unclear what the new ownership's plans for the hotel-casino will be.
Scientific Games nearly doubles revenue and net loss
11 May 2015
The company lost $86.4 million even as revenue grew to $658.7 million in the first quarter, compared to income of $388.1 million during the same period a year ago.
AGEM releases April 2015 index
7 May 2015
The AGEM index increased in April, showing stronger growth than the broader stock market.
Penn National to buy Tropicana for $360 million
30 Apr 2015
The Strip hotel-casino on 35 acres at Tropicana Boulevard will be purchased for $360 million from its shareholders, the largest of which is a partnership between Onex and Alex Yemenidijan.
Two casino companies report improved first-quarter results
27 Apr 2015
Two casino companies with Nevada ties had improved first-quarter results, including Las Vegas-based Pinnacle Entertainment which reported record net revenue.
Penn National Gaming announces intent to withdraw from proposed Lawrence Downs Casino and Racing Resort in Western Pennsylvania
30 Mar 2015
Penn National Gaming to withdraw from the proposed Lawrence Downs Casino and Racing Resort project.
Report: Indian gaming revenue hits record $28.3 billion in 2013
30 Mar 2015
The $28.3 billion figure was a 0.5 percent increase over 2012 and a single-year record high.
Long-term, negative side of REITs argued
24 Mar 2015
The short-term gains — tax benefits, a boost in stock prices and potentially lower debt — can be overshadowed by long-term issues.
Plainridge Park Casino to open on June 24, 2015
23 Mar 2015
The first casino to open in Massachusetts will include nine dining and entertainment venues, live harness racing and over 1,200 slot machines and electronic table games.
Hedge fund proposes REIT split for MGM Resorts
18 Mar 2015
MGM Resorts Chairman Jim Murren discussed the company forming a REIT last month during a quarterly conference call.
Hedge fund says bid for Pinnacle real estate too low
16 Mar 2015
New York-based Orange Capital, which owns 5.9 percent of Las Vegas-based Pinnacle, said this week’s offer from Gaming and Leisure Properties Inc. to acquire the real estate associated with Pinnacle’s 15 regional casinos “dramatically undervalues” the company.
Lower trigger for jackpots seen as costly for casinos
13 Mar 2015
The suggested move to reduce the trigger from $1,200 to $600 on jackpots for slot machines, keno and table games, was soundly criticized by gaming industry leaders as unnecessary and burdensome.
REIT offers to buy real estate of Pinnacle Entertainment
10 Mar 2015
Gaming and Leisure Properties Inc. said in a statement the proposed transaction would create the third-largest triple-net REIT by enterprise value.
Inside Gaming: Real estate investment trust concept could happen for MGM Resorts
9 Mar 2015
The gaming industry has embraced REITs, which, by law, don’t pay federal income taxes.
A revived locals market could push Station Casinos to IPO
25 Feb 2015
During the Station Casinos’ fourth-quarter earnings conference call a week ago, an analyst asked if the privately held casino company would be publicly traded once again.
Hollywood Poker Open Championship Weekend dates announced
5 Feb 2015
The Season 3 Championship Event will be held June 26-28 at Las Vegas M Resort Spa Casino. New additions include a Tour Leaderboard, a Seniors Championship and Seniors Tour Leaderboard.
Inside Gaming: Will falling gas prices, rising consumer confidence help regional casinos?
2 Feb 2015
Whether this translates into more dollars in casino drop boxes is still up for debate.
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