Penn National Gaming Reopens Three Illinois Casinos and Resumes Prairie State Gaming Video Gaming Terminal Operations
July 01 2020 - 10:00AM
Business Wire
83 Percent of the Company’s 41 Properties
Have Now Resumed Operations
Penn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or
the “Company”) today announced that 34 of its 41 gaming and racing
properties have resumed operations, representing approximately 83
percent of the Company’s regional gaming portfolio in 14 of the 19
states where it operates. The latest reopenings are scheduled for
today at the Company’s three Illinois casinos as well as its
Prairie State Gaming video gaming terminal (“VGT”) operations
throughout Illinois.
“With the reopening of our three casinos and our VGT operations
in Illinois, 83 percent of our industry-leading regional gaming
footprint has now resumed operations,” said Jay Snowden, President
and Chief Executive Officer for Penn National. “We are grateful to
our Corporate and property management teams, as well as our
regulators and local and state public health officials, for working
tirelessly to get our doors open while helping to protect the
safety of our team members and guests,” said Mr. Snowden. “We look
forward to the eventual reopening of all of our 41 properties
nationwide in the coming weeks.”
Penn National’s re-opened properties and VGT operations include:
Ameristar Casino Hotel Blackhawk (CO); Sanford Orlando Kennel Club
(FL); Ameristar Casino Hotel Council Bluffs (IA); Argosy Casino
Alton, Hollywood Casino Aurora, Hollywood Casino Joliet and Prairie
State Gaming (IL); Ameristar Casino Hotel East Chicago and
Hollywood Casino Lawrenceburg (IN); Hollywood Casino at Kansas
Speedway (KS); Boomtown Casino Bossier City, Boomtown Casino New
Orleans, L’Auberge Casino Baton Rouge, L’Auberge Casino Lake
Charles, and Margaritaville Casino Bossier City (LA); Argosy Casino
Hotel & Spa Riverside, Hollywood Casino St. Louis, and River
City Casino & Hotel (MO); 1st Jackpot Casino Tunica, Ameristar
Casino Hotel Vicksburg, Boomtown Casino Biloxi, Hollywood Casino
Gulf Coast, and Hollywood Casino Tunica (MS); Cactus Petes Resort
Casino, and M Resort Spa Casino Las Vegas (NV); Hollywood Casino
Columbus, Hollywood Casino Toledo, Hollywood Gaming at Dayton
Raceway, and Hollywood Gaming at Mohoning Valley Race Course (OH);
The Meadows Casino Racetrack Hotel and Hollywood Casino at Penn
National Race Course (PA); Retama Park and Sam Houston Race Park
(TX); and Hollywood Casino at Charles Town Races (WV). Each gaming
facility must operate at a limited capacity at this time, per state
and regulatory guidelines.
Penn National has implemented comprehensive social distancing
and safety protocols at all of its reopened properties, developed
in close consultation with state regulators and local and state
public health officials. Examples of these procedures can be found
at www.pngaming.com/covid19. Additionally, each property that has
received approval to reopen has provided more details regarding
further property-specific health and safety protocols on its
corresponding property website.
With additional states preparing for the resumption of gaming
operations, the Company will provide updated information on its
scheduled property reopenings as it receives final approval from
state regulators.
About Penn National Gaming Penn National Gaming owns,
operates or has ownership interests in 41 gaming and racing
properties in 19 states and video gaming terminal operations with a
focus on slot machine entertainment. We also offer live sports
betting at our properties in Indiana, Iowa, Michigan, Mississippi,
Pennsylvania and West Virginia. The Company will soon launch its
Barstool Sports book app and products, allowing it to leverage the
Barstool brand and marketing engine to drive meaningful market
share, as the product is introduced across our leading customer
loyalty program, mychoice, with 20 million casino customers and
Barstool's audience of over 66 million loyal fans. In total, Penn
National’s properties feature approximately 50,000 gaming machines,
1,300 table games and 8,800 hotel rooms. In addition, the Company
operates an interactive gaming division through its subsidiary,
Penn Interactive Ventures, LLC, which launched iCasino in
Pennsylvania and, through strategic partnerships, operates online
sports betting in Indiana, Pennsylvania and West Virginia.
Forward-looking Statements This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements can be
identified by the use of forward-looking terminology such as
"expects," "believes," "estimates," "projects," "intends," "plans,"
"goal," "seeks," "may," "will," "should," or "anticipates" or the
negative or other variations of these or similar words, or by
discussions of future events, strategies or risks and
uncertainties. Such statements are all subject to risks,
uncertainties and changes in circumstances that could significantly
affect the Company's future financial results and business.
Accordingly, the Company cautions that the forward-looking
statements contained herein are qualified by important factors that
could cause actual results to differ materially from those
reflected by such statements. Such factors include, but are not
limited to, risks related to the following: (a) the magnitude and
duration of the impact of the COVID-19 pandemic on capital markets,
general economic conditions, unemployment, consumer spending and
the Company's liquidity, financial condition, supply chain,
operations and personnel; (b) industry, market, economic,
political, regulatory and health conditions; (c) disruptions in
operations from data protection breaches, cyberattacks, extreme
weather conditions, medical epidemics or pandemics such as COVID-19
(including reoccurences), and other catastrophic events; (d) the
reopening of the Company's gaming properties are subject to various
conditions, including numerous regulatory approvals and potential
delays and operational restrictions and requirements (including
mandated health requirements associated with COVID-19); (e) actions
to reduce costs and improve efficiencies to mitigate losses as a
result of the COVID-19 pandemic could negatively impact guest
loyalty and our ability to attract and retain employees; and (f)
other factors included in "Risk Factors" of the Company's Annual
Report on Form 10-K for the year ended December 31, 2019, the
Company's Quarterly Report on Form 10-Q for the quarter ended March
31, 2020, subsequent Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K, each as filed with the U.S. Securities and
Exchange Commission. The Company does not intend to update publicly
any forward-looking statements except as required by law. In light
of these risks, uncertainties and assumptions, the forward-looking
events discussed in this press release may not occur.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200701005591/en/
Eric Schippers Sr. Vice President, Public Affairs
610/378-8321
PENN Entertainment (NASDAQ:PENN)
Historical Stock Chart
From Aug 2024 to Sep 2024
PENN Entertainment (NASDAQ:PENN)
Historical Stock Chart
From Sep 2023 to Sep 2024