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Penn Entertainment, Inc., formerly Penn National Gaming, is an American entertainment company and operator of integrated entertainment, sports content, and casino gambling. It operates 43 properties in 20 states, under brands including Hollywood Casino, Ameristar, and Boomtown. It also owns the Canadian digital media company Score Media and Gaming
The casino was opened by Pinnacle Entertainment in May 2005. [4] In April 2016, the property was sold to Gaming and Leisure Properties along with almost all of Pinnacle's real estate assets, and leased back to Pinnacle. [5] [6] Penn National Gaming (now Penn Entertainment) acquired Pinnacle in October 2018, including the operations the resort. [7]
Penn acquired the remainder of the company in February 2023 for $388 million. [14] [15] [16] Portnoy re-purchased Barstool in August 2023 for one dollar, non-compete agreements in the gambling space, and a clause that if Barstool were to be sold again Penn Entertainment would take 50%. [17]
In 2004, Argosy was acquired by Penn National Gaming (now Penn Entertainment). In June 2009, Penn National unveiled a much larger riverboat with a passenger capacity of nearly 9,000 guests and 4,400 gaming positions. The new boat also marked the changeover from the Argosy name to Penn National's primary brand, Hollywood Casino.
By 2023, Barstool Sportsbook offered mobile betting in 17 states, [6] and Penn had acquired the remaining stakes in Barstool from founder David Portnoy and The Chernin Group for $388 million. Some of Penn Entertainment's casinos also constructed or rebranded their sportsbooks under the Barstool Sportsbook banner, with 19 locations by 2023. [7] [8]
In May 2019, Vici Properties and Penn National Gaming (now Penn Entertainment) jointly bought Greektown from Jack Entertainment. Vici paid $700 million for the real estate assets, while Penn National paid $300 million for the operating business. It leased the property from Vici for $56 million per year.
Penn National may refer to: Penn National Race Course , a horse racing track in Grantville, Pennsylvania, United States Penn National Gaming , now known as Penn Entertainment, an American casino operator
Hollywood Casino Toledo, developed and operated by Penn National Gaming (now Penn Entertainment), opened on May 29, followed by Hollywood Casino Columbus, which opened on October 8, 2012. [3] Gross casino revenues will be taxed at 33 percent, one of the highest rates in the nation for a resort casino with this level of investment.