Land-Based Jay A. Snowden

Penn National Gaming

Penn National Gaming, Inc. 825 Berkshire Blvd. Wyomissing, PA 19610

Penn National Gaming is an operator of casinos and racetracks based in Wyomissing, Pennsylvania, with 44 facilities within the US.

The company also holds a 36% stake in Barstool Sports, a digital media company headquartered in New York that focuses on sports and pop culture.

Penn National Gaming has spread widely from its humble roots as Pitt Park Raceway Inc, a local company started by several Erie businessmen. They formed the group after Pennsylvania legalized horseracing and pari-mutuel wagering in 1967.

After they were awarded a license by the Turf Club they began construction on the Penn National Race Course. This racing track is still operational to this very day, seeing plenty of business under the management of Hollywood Casino.

After some growing pains, the company rebranded as Mountainviewside Thoroughbred Racing and began to see far more success, running 100 nights of racing at the venue each year. In 1982 they were purchased by Carlino.

The companies involved in Penn National Racing Course were then reorganized in 1994 into a public group PNRC Corporation. This put them onto the Nasdaq for the first time where they raised $18m and paid off their debts and fund construction. Carlino’s son, Peter M. became the company’s first official CEO, serving in this post until 2013.

Peter M’s tenure ushered in an age of expansion for the company, as they acquired Pocono Downs, Charles Town Racing, Freehold Raceway and operations of Garden State Park in New Jersey. The 90s was the decade in which Penn National Gaming expanded from a state to a national brand.

They followed this by dipping their toes into retail casinos, buying out Hollywood Casino Corp. for $328m which saw them gain gaming outlets in Illinois, Mississippi and Louisiana. This single acquisition doubled Penn National’s revenue and signaled their shift from horseracing to brick-and-mortar casinos.

What followed in the new millennium was the beginning of a franchise as Penn National bought out Argosy Gaming Company for $1.4bn in 2005 and the Tropicana Las Vegas for $360m in 2015 (just two of their many lucrative dealings).

Penn National Gaming is still going strong in the 2020s, having bought Score Media and Gaming for $2bn. This once again emphasizes the company's propensity for modernization as it prepares for the digital gambling age; it has come a long way from a single racetrack in Pennsylvania.

Locations:

Washington, Columbus, Toledo, Biloxi, Lake Charles, Alton, Aurora, Henderson, Harlingen, Houston, Longwood, Hobbs, Dayton, Riverside, Joliet, Lawrenceburg, Kansas City, Bangor, Fort Washington, Vicksburg, Tunica, St. Louis, Grantville, Charles Town, East Chicago, Plainville, Bay Saint Louis, Clementon, York, Morgantown, Selma, Toms River, Baton Rouge.

Key personnel:

Senior VP & Chief Marketing Officer: Jennifer Weissman
Executive VP & Chief Financial Officer: Felicia Hendrix
Senior VP, Chief Human Resources Officer: Wendy Hamilton
Sr. Vice President , Chief Information Officer: Richard Primus

Number of employees:

18,321

Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.
GA HUDDLE #087

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!
GA HUDDLE #086

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

10-11-From-the-top
From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
12-GA-MAR-10-year-v2
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
16-18-IGA-Preview
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
20-22-GA-Mar-888-Holding-article
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.