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Penn Entertainment News
Penn National Gaming Extends Offers
9 Aug 2005
Penn National Gaming’s subsidiary Thoroughbred Acquisition Corp. has extended the expiration date of the tender offers dated July 21, 2005 to 12:00 midnight, New York City time, on August 26, 2005.
State Shuts Down Internet Gaming Site
8 Aug 2005
A month after shutting down a Web promotion by Foxwoods Resort Casino, the state has ordered a halt to an Internet gambling site run by Penn National Gaming Inc.
US FTC Approves Penn National Deal to Buy Argosy
28 Jul 2005
News Brief: U.S. antitrust authorities said on Wednesday they had approved plans by racetrack operator Penn National Gaming Inc. to buy riverboat gambling company Argosy Gaming Co.
Penn National Tender Offers, Consent Solicitations for Argosy Notes
21 Jul 2005
Penn National Gaming, Inc.’s subsidiary, Thoroughbred Acquisition Corp., is commencing cash tender offers for any and all of the $200 million aggregate outstanding principal amount of Argosy Gaming Company's 9% senior subordinated notes.
Penn National Expects to Close Deal Soon
18 Jul 2005
Penn National Gaming, Inc.’s Louisiana Casino Cruises, Inc. has satisfied substantially all of the conditions to closing related to its proposed purchase of the property on which Penn National's Casino Rouge conducts a significant portion of its dockside operations.
Penn National to Sell Argosy Casino-Baton Rouge
21 Jun 2005
Penn National Gaming, Inc. has entered into a securities purchase agreement to sell Argosy Casino Baton-Rogue for $150 million to a Columbia Sussex subsidiary.
Sioux City Casino Sale Approved
10 Jun 2005
News Brief: The Iowa Racing and Gaming Commission Thursday approved Penn National's acquistion of Sioux City's riverboat casino.
Bangor Racino Takes Step Forward with OTB License
31 May 2005
Another piece of the Bangor racino puzzle fell into place with the Maine Harness Racing Commission's approval of simulcast racing for Penn National Gaming Inc.
Analyst Sees Diverse Gaming on Trek
30 May 2005
News Brief: Susquehanna Financial Group analyst Eric Hausler has toured dozens of casinos in seven states and has seen first-hand hand just how much the industry has grown from of its Nevada roots.
Gaming Firms Increase Political Donations with Merger in Works
17 May 2005
Two casino companies have significantly increased their political donations as they push for state approval of a merger that would create Illinois' largest gambling empire.
Penn National Gaming Names GM for Maine Facility
12 May 2005
Penn National Gaming, Inc. reports that Jon Johnson has been named, subject to being granted all necessary regulatory approvals, General Manager of Penn's new gaming facility now under development in Bangor, Maine.
Penn National Results Up Slightly
26 Apr 2005
Penn National reports Q1 revenue of $289.3 million, up from $285.1 million for Q1 2004.
Penn National to Acquire Temporary Maine Site
15 Apr 2005
Penn National Gaming’s subsidiary, Bangor Historic Track, Inc., has agreed to acquire an off-track betting facility in Bangor, Maine which Penn National intends to use as a temporary gaming facility for approximately 475 slot machines.
Gambling Beyond Nevada: A Big Deal With Little Fanfare
4 Apr 2005
The multibillion dollar corporate buyouts that will reduce Nevada's four gaming industry giants to two has sparked a multitude of analysis from investment houses and pages of copy from the financial media.
Penn National Discloses Financial Control Weaknesses
10 Mar 2005
News Brief: Penn National Gaming Inc. disclosed Wednesday that it has spotted four weaknesses in its internal financial controls.
Penn National Prices Notes Offering
25 Feb 2005
Penn National Gaming, Inc. has priced a private offering of $250 million aggregate principal amount of its 6 3/4% Senior Subordinated Notes due 2015.
Penn National Calls for Redemption of Notes
9 Feb 2005
Penn National Gaming, Inc. has called for redemption all $200 million in aggregate principal amount of its outstanding 11 1/8% Series B Senior Subordinated Notes due March 1, 2008.
Maine's First Gaming Board Director Sets Goals
8 Feb 2005
News Brief: The Maine Gambling Control Board's first executive director, Robert Welch, has set honesty and integrity among his top priorities for the racetrack casino headed for Bass Park.
FTC Requests More Info from Penn National, Argosy
8 Feb 2005
Penn National Gaming, Inc. and Argosy Gaming Company announced that, as expected, they have received a request from the Federal Trade Commission for more information relating to the previously announced merger of Penn National and Argosy.
Penn National Gaming Declares 2-for-1 Stock Split
3 Feb 2005
Penn National Gaming, Inc. reports that its Board of Directors has approved a 2-for-1 split of the company's common stock.
Penn National Results Up
3 Feb 2005
Penn National Gaming reports that Q4 revenue rose to $276.7 million from $257.4 million for Q4 2003.
Media Oppose Bill to Exclude Records of Racino Applicants
26 Jan 2005
Media and anti-gambling groups are challenging provisions of the bill, which would allow Penn National to keep the wraps on personal, criminal and other material on its application for a state license.
Penn National Completes Sale of Pocono Downs
26 Jan 2005
Penn National Gaming, Inc. has completed the previously announced sale of The Downs Racing and its subsidiaries to the Mohegan Tribal Gaming Authority for approximately $280 million.
Argosy Stockholders Approve Merger With Penn National Gaming
20 Jan 2005
Argosy Gaming Company reports that at a special stockholders meeting this afternoon, its stockholders approved the merger agreement under which Penn National Gaming will acquire all of the outstanding shares of Argosy for $47 per share.
Penn National to Sell Junk Bonds
7 Jan 2005
Penn National Gaming Inc., the casino owner planning to buy Argosy Gaming Corp., will sell about $300 million of high-yield bonds this month to help fund the takeover, said a person familiar with the offering who declined to be identified.
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