Penn National Gaming
Encyclopedia
Penn National Gaming, Inc. is a diversified owner and operator of casino
properties, as well as horse racetracks
and associated off-track betting
facilities primarily in the United States. As of 2008, it operated 20 facilities in 12 jurisdictions, including West Virginia
, Illinois
, Indiana
, Louisiana
, Mississippi
, Pennsylvania
, Missouri
, New Jersey
, Ohio
, Colorado
, Maine
, Maryland and Ontario
.
which opened in 1972 in the Harrisburg, Pennsylvania
suburb of Grantville, Pennsylvania
.
The company was incorporated as PNRC Corp. in 1982 and changed its name to Penn National Gaming, Inc. in 1994. Penn National Gaming is headquartered in Wyomissing, Pennsylvania
.
Since 1996 its CEO has been Peter Carlino (born 1946).
In 2005, Penn National acquired Argosy Gaming Company
for $2.2 billion making it at the time the third largest publicly held gaming company in the country (behind MGM-Mirage Inc. and Harrah's Entertainment Inc.).
In November 2006 Penn National Gaming failed in an attempt to acquire Harrah's Entertainment
. http://money.cnn.com/2006/11/29/news/companies/penn_harrahs.reut/index.htm?postversion=2006112907 The deal to purchase Harrah's fell through, and Harrah's was eventually taken over by two private equity firms.
In 2007 it acquired Zia Park & Black Gold Casino in Hobbs, New Mexico
for $200 million. The assets are primarily the Zia Park Racetrack and its Black Gold Casino on approximately 320 acres (1.3 km²) of land located in Hobbs, New Mexico.
An attempt in 2007 to take company private with a $6.1 billion buyout fell through with prospective buyers, New York-based Fortress Investment Group
and Centerbridge Partners
.
Argosy brand
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
properties, as well as horse racetracks
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
and associated off-track betting
Off-track betting
Off-track betting refers to sanctioned gambling on horse racing outside a race track.-US history:...
facilities primarily in the United States. As of 2008, it operated 20 facilities in 12 jurisdictions, including West Virginia
West Virginia
West Virginia is a state in the Appalachian and Southeastern regions of the United States, bordered by Virginia to the southeast, Kentucky to the southwest, Ohio to the northwest, Pennsylvania to the northeast and Maryland to the east...
, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
, Indiana
Indiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
, Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
, Mississippi
Mississippi
Mississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
, Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
, New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
, Maine
Maine
Maine is a state in the New England region of the northeastern United States, bordered by the Atlantic Ocean to the east and south, New Hampshire to the west, and the Canadian provinces of Quebec to the northwest and New Brunswick to the northeast. Maine is both the northernmost and easternmost...
, Maryland and Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
.
History
The company traces it roots Penn National Race CoursePenn National Race Course
Hollywood Casino at Penn National Race Course is a thoroughbred horse racing track and casino located in Grantville, Pennsylvania, east of Harrisburg, Pennsylvania.The track opened on August 30, 1972...
which opened in 1972 in the Harrisburg, Pennsylvania
Harrisburg, Pennsylvania
Harrisburg is the capital of Pennsylvania. As of the 2010 census, the city had a population of 49,528, making it the ninth largest city in Pennsylvania...
suburb of Grantville, Pennsylvania
Grantville, Pennsylvania
Grantville is an unincorporated community in East Hanover Township Dauphin County, Pennsylvania, United States. It is part of the Harrisburg–Carlisle Metropolitan Statistical Area.-Points of Interest:* St...
.
The company was incorporated as PNRC Corp. in 1982 and changed its name to Penn National Gaming, Inc. in 1994. Penn National Gaming is headquartered in Wyomissing, Pennsylvania
Wyomissing, Pennsylvania
Wyomissing is a borough in Berks County, Pennsylvania, United States, established on July 2, 1906. The population was 8,587 at the 2000 census, but after the January, 2002 merger with neighboring Wyomissing Hills, the combined 2000 Census estimate was 11,155 making it the most populous borough in...
.
Since 1996 its CEO has been Peter Carlino (born 1946).
In 2005, Penn National acquired Argosy Gaming Company
Argosy Gaming Company
Argosy Gaming Company was an Alton, Illinois based casino operator.-History:The company through the political connections of its chairman William F. Cellini received the first gambling license in Illinois in modern times. It began operations in September, 1991 with the opening of the Alton Belle...
for $2.2 billion making it at the time the third largest publicly held gaming company in the country (behind MGM-Mirage Inc. and Harrah's Entertainment Inc.).
In November 2006 Penn National Gaming failed in an attempt to acquire Harrah's Entertainment
Harrah's Entertainment
Caesars Entertainment Corporation is a private gaming corporation that owns and operates over 50 casinos, hotels, and seven golf courses under several brands. The company, based in Paradise, Nevada, is the largest gaming company in the world, with yearly revenues $8.9 billion...
. http://money.cnn.com/2006/11/29/news/companies/penn_harrahs.reut/index.htm?postversion=2006112907 The deal to purchase Harrah's fell through, and Harrah's was eventually taken over by two private equity firms.
In 2007 it acquired Zia Park & Black Gold Casino in Hobbs, New Mexico
Hobbs, New Mexico
Hobbs is a city in Lea County, New Mexico, United States. The population was 28,657 at the 2000 census.Hobbs is the principal city of the Hobbs, New Mexico Micropolitan Statistical Area, which includes all of Lea County.-Geography:...
for $200 million. The assets are primarily the Zia Park Racetrack and its Black Gold Casino on approximately 320 acres (1.3 km²) of land located in Hobbs, New Mexico.
An attempt in 2007 to take company private with a $6.1 billion buyout fell through with prospective buyers, New York-based Fortress Investment Group
Fortress Investment Group
Fortress Investment Group LLC is an investment management firm based in New York, New York. The company went public on February 9, 2007.-History:...
and Centerbridge Partners
Centerbridge Partners
Centerbridge Partners is a private equity investment firm focused on leveraged buyouts and distressed securities.The firm manages in excess of $5.5 billion of investor commitments and is based in New York City with an additional office in London, UK....
.
Casinos owned
- Black Gold Casino at Zia Park, Hobbs, New MexicoHobbs, New MexicoHobbs is a city in Lea County, New Mexico, United States. The population was 28,657 at the 2000 census.Hobbs is the principal city of the Hobbs, New Mexico Micropolitan Statistical Area, which includes all of Lea County.-Geography:...
- Boomtown Casino, Biloxi, MississippiBiloxi, MississippiBiloxi is a city in Harrison County, Mississippi, in the United States. The 2010 census recorded the population as 44,054. Along with Gulfport, Biloxi is a county seat of Harrison County....
- Bullwhackers Casino, Black Hawk, ColoradoBlack Hawk, ColoradoThe historic City of Black Hawk is a Home Rule Municipality located in Gilpin County, Colorado, United States. The city population was 118 at U.S. Census 2000, making Black Hawk the least populous city in Colorado...
- M ResortM ResortM Resort Spa Casino is a luxury boutique hotel and casino on approximately at the southeast corner of Las Vegas Boulevard and St. Rose Parkway , in Henderson, Nevada. It is located near the affluent neighborhood of Southern Highlands and the proposed Southern Highlands Resort. The hotel includes...
, Henderson, NevadaHenderson, Nevada-Demographics:According to the 2000 census, there were 175,381 people, 66,331 households, and 47,095 families residing in the city. The population density was 2,200.8 people per square mile . There were 71,149 housing units at an average density of 892.8 per square mile...
Argosy brandArgosy CasinoArgosy Casino is a brand of American casinos operated by Penn National Gaming. The casinos were acquired in Penn National's takeover of Argosy Gaming Company in 2004.-Locations:*Argosy Casino Sioux City, Sioux City, Iowa*Argosy Casino Alton, Alton, Illinois...
- Argosy Alton, Alton, IllinoisAlton, IllinoisAlton is a city on the Mississippi River in Madison County, Illinois, United States, about north of St. Louis, Missouri. The population was 27,865 at the 2010 census. It is a part of the Metro-East region of the Greater St. Louis metropolitan area in Southern Illinois...
(near St. Louis, MissouriSt. Louis, MissouriSt. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
) - Argosy Kansas City, Riverside, MissouriRiverside, MissouriRiverside is a city in Platte County, Missouri, United States. The population was 2,979 at the 2000 census.The town on the edge of the Missouri River has a long history of racing and gambling. It formally incorporated in 1951....
- Argosy Sioux City, Sioux City, IowaSioux City, IowaSioux City is a city in Plymouth and Woodbury counties in the western part of the U.S. state of Iowa. The population was 82,684 in the 2010 census, a decline from 85,013 in the 2000 census, which makes it currently the fourth largest city in the state....
Hollywood Casino brand
- Hollywood Casino Aurora, Aurora, IllinoisAurora, IllinoisAurora is the second most populous city in the U.S. state of Illinois, and the 112th largest city in the United States. A suburb of Chicago, located west of the Loop, its population in 2010 was 197,899. Originally founded within Kane County, Aurora's city limits have expanded greatly over the past...
- Hollywood Casino Joliet, Joliet, IllinoisJoliet, IllinoisJoliet is a city in Will and Kendall Counties in the U.S. state of Illinois, located southwest of Chicago. It is the county seat of Will County. As of the 2010 census, the city was the fourth-most populated in Illinois, with a population of 147,433. It continues to be Illinois' fastest growing...
- Hollywood Casino Baton Rouge, Baton Rouge, LouisianaBaton Rouge, LouisianaBaton Rouge is the capital of the U.S. state of Louisiana. It is located in East Baton Rouge Parish and is the second-largest city in the state.Baton Rouge is a major industrial, petrochemical, medical, and research center of the American South...
- Hollywood Casino Bay St. LouisHollywood Casino Bay St. LouisHollywood Casino is a hotel-casino complex located in Bay St. Louis, Mississippi owned by Penn National Gaming.The property was once occupied by Casino Magic, which was largely destroyed by Hurricane Katrina. Its gaming barge floated over away and ended up in a forest...
, Bay St. Louis, MississippiBay St. Louis, MississippiBay Saint Louis is a city located in Hancock County, Mississippi. It is part of the Gulfport–Biloxi, Mississippi Metropolitan Statistical Area. As of the 2000 census, the city had a total population of 8,209. It is the county seat of Hancock County... - Hollywood Casino at Charles Town Races Charles Town, West VirginiaCharles Town, West VirginiaCharles Town is a city in and the county seat of Jefferson County, West Virginia, United States. The population was 2,907 at the 2000 census. Due to its similar name, travelers have sometimes confused this city with the state's capital, Charleston.-History:...
- Hollywood Casino at Penn National Race CourseHollywood Casino at Penn National Race CourseHollywood Casino at Penn National Race Course is a casino located on the grounds of the Penn National Race Course Grantville, Pennsylvania, east of Harrisburg, Pennsylvania....
, Grantville, PennsylvaniaGrantville, PennsylvaniaGrantville is an unincorporated community in East Hanover Township Dauphin County, Pennsylvania, United States. It is part of the Harrisburg–Carlisle Metropolitan Statistical Area.-Points of Interest:* St... - Hollywood Casino LawrenceburgHollywood Casino LawrenceburgHollywood Casino Lawrenceburg is a riverboat casino based in Lawrenceburg, Indiana, USA. It serves the Cincinnati, Ohio metropolitan area.The casino was originally named Argosy Casino, and was operated by Argosy Gaming Company, which was taken over in 2004 by Penn National Gaming, which operated...
(formerly Argosy Lawrenceburg), Lawrenceburg, IndianaLawrenceburg, IndianaLawrenceburg is a city in Dearborn County, Indiana, United States. The population was 5,042 at the 2010 census. The city is the county seat of Dearborn County...
(near Cincinnati, OhioCincinnati, OhioCincinnati is a city in the U.S. state of Ohio. Cincinnati is the county seat of Hamilton County. Settled in 1788, the city is located to north of the Ohio River at the Ohio-Kentucky border, near Indiana. The population within city limits is 296,943 according to the 2010 census, making it Ohio's...
) - Hollywood Casino Tunica, Tunica, MississippiTunica, MississippiTunica is a town in Tunica County, Mississippi, United States, located near the Mississippi River. Until the early 1990s the town was one of the most impoverished places in the United States, semi-famous for the particularly deprived neighbourhood known as "Sugar Ditch Alley", named for the open...
- Hollywood Casino Toledo, Toledo, OhioToledo, OhioToledo is the fourth most populous city in the U.S. state of Ohio and is the county seat of Lucas County. Toledo is in northwest Ohio, on the western end of Lake Erie, and borders the State of Michigan...
- Hollywood Slots at Bangor, Bangor, MaineBangor, MaineBangor is a city in and the county seat of Penobscot County, Maine, United States, and the major commercial and cultural center for eastern and northern Maine...
- Hollywood Casino PerryvilleHollywood Casino PerryvilleHollywood Casino Perryville, Maryland's first casino, is in Perryville. It is owned by Penn National Gaming; the casino opened on September 30, 2010. It has a gaming floor of , with over 1,500 slot machines....
, Perryville, MD
Race tracks
- Charles Town Races and Slots, Charles Town, West VirginiaCharles Town, West VirginiaCharles Town is a city in and the county seat of Jefferson County, West Virginia, United States. The population was 2,907 at the 2000 census. Due to its similar name, travelers have sometimes confused this city with the state's capital, Charleston.-History:...
- Penn National Race CoursePenn National Race CourseHollywood Casino at Penn National Race Course is a thoroughbred horse racing track and casino located in Grantville, Pennsylvania, east of Harrisburg, Pennsylvania.The track opened on August 30, 1972...
, Grantville, Pennsylvania - Beulah Park, Grove City, OhioGrove City, OhioAs of the census of 2000, there were 27,075 people, 10,265 households, and 7,544 families residing in the city. The population density was 1,941.2 people per square mile . There were 10,712 housing units at an average density of 768.0 per square mile...
- Bangor Raceway, Bangor, Maine
- Freehold RacewayFreehold RacewayFreehold Raceway is a half-mile racetrack in Freehold Borough, New Jersey. Established in 1853, it is the oldest harness racetrack in the United States and is located at the intersection of U.S. Route 9 and Business Route 33 in Freehold....
, Freehold Borough, New JerseyFreehold Borough, New JerseyFreehold is a borough in Monmouth County, New Jersey, United States. As of the 2010 United States Census, the borough population was 12,052. It is the county seat of Monmouth County.... - Raceway ParkRaceway Park (Ohio)Raceway Park is a horse racing track in Toledo, Ohio United States which currently hosts harness racing. Established in 1959 Raceway Park originally hosted car racing and thoroughbred racing.- Racing :...
, Toledo, OhioToledo, OhioToledo is the fourth most populous city in the U.S. state of Ohio and is the county seat of Lucas County. Toledo is in northwest Ohio, on the western end of Lake Erie, and borders the State of Michigan... - Zia Park, Hobbs, New MexicoHobbs, New MexicoHobbs is a city in Lea County, New Mexico, United States. The population was 28,657 at the 2000 census.Hobbs is the principal city of the Hobbs, New Mexico Micropolitan Statistical Area, which includes all of Lea County.-Geography:...