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Penn Entertainment News
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.
Boyd Gaming evaluating REIT spin-off
31 Oct 2014
Boyd Gaming CEO Keith Smith said Thursday the company is working with advisors to understand the feasibility of the process.
Timing right for suitors to pursue Full House
29 Oct 2014
A group of Full House investors, led by former Pinnacle Entertainment CEO Dan Lee, predicts better days for the casino operator if it can remake the board and map out a new direction.
REIT sues Cannery Casino Resorts over racetrack casino purchase
29 Oct 2014
Gaming and Leisure Properties, the real estate investment trust spin-off from Penn National Gaming, said Tuesday it was unclear what impact the lawsuit that was filed in New York would have on closing the transaction, which was announced in May.
Penn National sees revenue, profits decline
24 Oct 2014
Penn said its net income for the quarter that ended Sept. 30 was $8.5 million, or 10 cents per share, down from $35.3 million or 34 cents per share a year ago.
Hollywood Poker Open Season 3 features more regional stops, $2 million expected Las Vegas Championship prize pool
20 Sep 2014
More stops, more players and more winnings can be expected from Penn National Gaming's 2014-15 Hollywood Poker Open tournament series.
Synectics adds Penn premiers to growing North American gaming portfolio
8 Sep 2014
Two new Ohio Penn National Gaming casinos are the latest additions to the firm’s extensive portfolio.
Penn National Gaming celebrates Topping Out of Plainridge Park Casino
27 Aug 2014
“Topping Out” is celebrated at Plainridge Park Casino marking the completion of the structural components and marking the halfway point in construction.
Orange Capital again wants Pinnacle Entertainment to split off REIT
25 Jul 2014
Orange Capital believes Pinnacle’s share price could increase between 60 percent and 90 percent in value if the Las Vegas-based company were to create a REIT.
Penn National reverses second quarter net loss
25 Jul 2014
This, despite sluggish gaming revenue results from many Southern and Midwestern states in recent months.
Isle of Capri Casinos shakes up corporate management
14 Jul 2014
On Thursday the St. Louis-based company announced a management shake-up at the corporate level, eliminating the executive chairman role with the board of directors and the chief strategic officer position.
The Cordish Companies and Penn National Gaming file application for $750+ Million Live! Hotel & Casino New York
30 Jun 2014
The Cordish Companies and Penn National Gaming, Inc. formally filed their application today for a gaming license in the Hudson Valley-Catskills Region in the state of New York.
Penn National Gaming withdraws bid for casino license in Philadelphia
27 Jun 2014
Penn National Gaming today formally withdrew its proposal for a $480 million Hollywood Casino Philadelphia.
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