Casino
April 22, 2020
GLPI Acquires Tropicana, Leases Casino Operations to Penn
Gaming and Leisure Properties /GLPI/ has acquired ownership of Tropicana Las Vegas Casino Hotel Resort, after its owner, Penn Gaming National, decided to sell the property to its principal landlord. The Las Vegas Strip property was sold for $307.5 million, around $52 million less than what Penn paid for it 5 years ago, obviously a […]
Business
April 21, 2020
Penn Assures Stakeholders Business Continuity Has Been Secured
Penn National Gaming issued a stakeholder letter to investors on Monday, updating them about the measures undertaken by the company to mitigate the significant risks generated by the ongoing situation with the spreading coronavirus. The Pennsylvania-based gaming operator Penn National was ranked among the casino operators that would not last long in case casino closure […]
Business
March 29, 2020
Penn National to Sell Tropicana, Furlough 26,000 Employees
As casino companies get hit one after another, Penn National Gaming is the latest sector player to announce drastic measures and proceed with the furloughing of 26,000 employees. Penn National Takes Tough Decisions Amid COVID-19 Crisis With the coronavirus pandemic taking on more threatening dimensions, the world is preparing to brace the economic impact the […]
Legal
March 7, 2020
Colorado: DraftKings Among The Latest Licensed For Operations
Colorado’s gaming regulator has granted 8 more licenses during its special meeting held on Thursday due to the high number of license applications. High Number Of Applications Having received 60 applications in total, 32 for master licenses, 18 for internet operators and 10 for sports operators, the Limited Gaming Control Commission in Colorado decided that […]
Business
February 22, 2020
Barstool Sports Sells 36% Stake to Penn National for $163m
After four years of rapid expansion and an estimated monthly traffic of 10 million visitors, Barstool Sports turned the next chapter of its development story by signing a $163 million deal with Penn National Gaming. Barstool Sports Seals $163m Deal with Penn National Casino operator Penn National Gaming (PNG) has acquired a 36% stake in […]
Business
February 8, 2020
Penn National Becomes NASCAR Authorized Gaming Operator
Gaming giant Penn National has extended its partnership with NASCAR and signed a new agreement to become an authorized gaming partner for the league. NASCAR and Penn National Gaming Team Up in Kansas On Friday, Penn National Gaming said that it is teaming up with NASCAR ahead of the upcoming racing season and Daytona 500, […]
Sports
January 31, 2020
Barstool Sports Partners with Penn National for Sports Betting
For quite some time, there were speculations regarding the possibility of Barstool Sports, one of the biggest brands in sports media, joining the likes of Yahoo! Sports in offering sports betting services. Well, these are no longer mere speculations. Earlier this week, renowned gaming operator Penn National Gaming confirmed that it has recently inked a […]