Penn Entertainment, Inc, formerly Penn National Gaming, is an American operator of casinos and racetracks based in Wyomissing, Pennsylvania.
| FactSnippet No. 1,457,649 |
15 Facts About Penn Entertainment
2.
In 2013, Penn Entertainment completed the corporate spin-off of Gaming and Leisure Properties, a real estate investment trust.
| FactSnippet No. 1,457,650 |
3.
Penn Entertainment National expanded beyond its first racetrack with the acquisitions of Pocono Downs in 1996, Charles Town Races in 1997, and, in 1999, a half interest in Freehold Raceway and the operations of Garden State Park.
| FactSnippet No. 1,457,651 |
4.
Penn Entertainment planned to rebrand its other properties under the Hollywood Casino name.
| FactSnippet No. 1,457,652 |
5.
In 2007, Penn Entertainment National acquired the Zia Park racino in Hobbs, New Mexico for $200 million.
| FactSnippet No. 1,457,653 |
6.
In November 2012, Penn Entertainment National announced a plan to spin off a new real estate investment trust with ownership of most of its properties, in an effort to reduce taxes and cost of capital, and overcome license ownership restrictions.
| FactSnippet No. 1,457,654 |
7.
In July 2013, Penn Entertainment National sold the Bullwhackers Casino to a local investor group.
| FactSnippet No. 1,457,655 |
8.
In May 2017, Penn Entertainment National acquired the operating assets of Bally's Casino Tunica and Resorts Casino Tunica for a total of $44 million, and leased the two casinos from GLPI, which had simultaneously purchased the real estate assets.
| FactSnippet No. 1,457,656 |
9.
In connection with the sale, Penn Entertainment National sold the real estate of Plainridge Park Casino to GLPI for $250 million.
| FactSnippet No. 1,457,657 |
10.
In 2019, Penn Entertainment National made two purchases in conjunction with Vici Properties.
| FactSnippet No. 1,457,658 |
11.
Penn Entertainment National bought the operating businesses of the Margaritaville Resort Casino in Louisiana and Greektown Casino–Hotel in Detroit for $115 million and $300 million, respectively, while Vici bought both properties' real estate assets and leased them to Penn Entertainment.
| FactSnippet No. 1,457,659 |
12.
Penn Entertainment has an option in the deal to increase its stake to control or full ownership in three years.
| FactSnippet No. 1,457,660 |
13.
Penn Entertainment continued to operate the Tropicana until 2022, when it was sold to Bally's Corporation.
| FactSnippet No. 1,457,661 |
14.
In September 2021, Penn Entertainment National opened a career center at Hollywood Casino Morgantown.
| FactSnippet No. 1,457,662 |
15.
In February 2022, Penn Entertainment National announced a strategic partnership with Sports Betting Exchange in Louisiana.
| FactSnippet No. 1,457,663 |