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Penn Entertainment News
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.
One-time charge hurts Penn National fourth quarter results
30 Jan 2015
Penn National said its net loss of $250.4 million for the quarter that ended Dec. 31 was primarily due to a $316.5 million non-cash charge.
Slots 'lock-up' law could cost millions
23 Jan 2015
Under the Massachusetts law authorizing up to three casinos and a slot parlor, operators are required to stop a gambling machine transaction once someone wins $600.
Penn National Gaming names Chris Sheffield Senior Vice President Managing Director I-Gaming
16 Jan 2015
Chris Sheffield named Senior Vice President Managing Director I-Gaming at Penn National Gaming.
Jamul Indian Village and Penn National Gaming announce completion of $36 million site excavation phase for Hollywood Casino Jamul-San Diego
17 Dec 2014
Proposed Hollywood Casino Jamul-San Diego today celebrated the completion of the $36 million site excavation phase.
Regional casino markets show renewed life
1 Dec 2014
As a whole, share prices of regional casino companies — including Boyd Gaming, Pinnacle Entertainment, Penn National Gaming and Isle of Capri Casino — have outperformed the S&P by 19 percent in 2014.
Analysts favor Caesars move to put key unit into REIT
24 Nov 2014
Fitch Ratings Service said in a report, however, the spinoff won’t prevent Caesars from having to go through bankruptcy reorganization to restructure its $22.8 billion debt.
Caesars studying placing largest operating division into REIT
20 Nov 2014
Caesars, which has been in talks with banks and lenders in an attempt to restructure its $22.8 billion debt, said the real estate investment trust was one option being discussed.
AGA making its voice heard on major gaming issues
12 Nov 2014
AGA CEO Geoff Freeman said the AGA should be the group to clear up misconceptions or untruths about a regulated casino industry. That’s what the organization did in Massachusetts, and will do in other markets.
Pinnacle Entertainment plans to split off casinos into a REIT
7 Nov 2014
If successful — Las Vegas-based Pinnacle said the process could take up to a year to complete — the company will become two publicly traded entities.
MGM officially awarded Massachusetts gaming license
6 Nov 2014
The process was been put hold until a ballot question that sought to repeal the state’s casino law was decided. On Tuesday, Massachusetts voters overwhelmingly rejected the referendum.
Possible Boyd spinoff into REIT excites investors
5 Nov 2014
Shares of Boyd jumped almost 5 percent in value on the New York Stock Exchange last Friday, the day after the company said it spent $3 million on advisers to evaluate the idea of a REIT.
Bay State voters choose to preserve fledgling casino industry
5 Nov 2014
Massachusetts voters saved the state’s fledgling casino industry Tuesday by overwhelmingly rejecting a ballot referendum that would have tossed a three-year-old gaming law.
Vote to reverse Bay State casinos appears losing — or will it?
3 Nov 2014
By all accounts, a referendum to undo Massachusetts’ casino law should get crushed in Tuesday’s election and lose by 15 to 20 percentage points.
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