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Casino
October 2, 2024
Hollywood Casino at Kansas Speedway to Add Hotel After 10-Year Delay
Hollywood Casino in Kansas City is considering constructing a new hotel after years of delays. This would finally align the property with its vision to offer a resort experience near the Kansas Speedway racetrack. The Hotel Might Finally Become a Reality Hollywood Casino officially opened in 2012 and was set to start constructing its hotel […]
Business
September 10, 2024
Penn CEO Snowden Purchases $850K Worth of Company Stock
Penn Entertainment CEO Jay Snowden remains confident in the company’s stock, despite its recent decline. To highlight his trust in the company, the executive expanded its stake in the operator, purchasing 54,200 more shares for approximately $1 million. Snowden Now Owns Almost a Million Shares The purchase was outlined in a recent Securities and Exchange […]
Sports
September 2, 2024
PENN Entertainment Ready for ESPN Bet NY Launch Within Weeks
The New York sports betting market has been eagerly anticipating the arrival of its newest member, ESPN Bet by PENN Entertainment. Sometime in August, company executives spoke about the end of the month as a probable launch date in the Empire State. However, things didn’t go as planned as the online sportsbook is still not […]
Casino
August 22, 2024
Hollywood Casino to Slash Its Slot Count Amid Competition from Skill Games
Having secured approval from the Pennsylvania Gaming Control Board (PGCB), Penn Entertainment will modify its Hollywood Casino gaming area at Penn National Race Course. The company is set to slash its number of slots, citing intense competition from the skill-based sector as the reason. The Property Will Remove 169 Machines Hollywood Casino, for context, is […]
Business
August 22, 2024
Analyst Sees Potential for Penn’s Interactive Segment Growth
Earlier this month, Penn Entertainment, the leading land-based and online sports betting operator, released its second quarter results. At the time, the company pointed to strong revenue of $1.66 billion for the three months ended June 30, 2024. The result marked a slight dip compared to the $1.67 billion figure posted for the corresponding period […]
Casino
July 26, 2024
Nevada Gaming Commission Confronts Penn on Compliance Shortfalls
The Nevada Gaming Commission criticized Penn Entertainment for major issues with compliance, such as having minors in casinos, allowing self-excluded persons to place bets, and slow updating of company policies. These failures became a key subject during the evaluation of Penn’s ongoing IPO, which was approved despite the raised concerns. Penn Entertainment Pledges Policy Overhaul […]
Sports
July 18, 2024
PENN Entertainment Outlines Layoffs in Penn Interactive
Much criticism has been heard about PENN Entertainment CEO Jay Snowden’s managerial style. From vituperations against his cushy pay package to fulminations over the incredulous sale of the Barstool Brand for $1 back to its controversial owner, David Portnoy, after forking out millions to acquire it, now PENN is preparing to lay off staff in […]
Business
July 8, 2024
Penn Entertainment Shares Soar as Flutter Weighs In on Potential Acquisition
Flutter Entertainment is said to be considering the purchase of interactive assets from Penn Entertainment in a notable move for the gaming industry. Flutter could team up with Boyd Gaming, which has also expressed interest in buying Penn. Penn Entertainment Shares Rise as Flutter Weighs in on Potential Acquisition Following this news, shares of Penn […]
Business
June 21, 2024
Boyd Gaming Eyes Penn Entertainment, Considers Acquisition
US casino powerhouse Boyd Gaming has reportedly approached fellow casino giant Penn Entertainment with an acquisition proposal. People familiar with the matter told Reuters that this could be the biggest casino merger in the US since Eldorado Resorts $17.3 billion acquisition of Caesars Entertainment. Following Reuters’ report, Penn’s shares experienced an increase of 8% to […]
Business
June 17, 2024
PENN Entertainment Strategic Review Is Unlikely, According to Analyst
The shares of the leading American gaming and entertainment company formerly known as Penn National Gaming, PENN Entertainment, took a dip after an analyst hinted that a near term strategic review of the company’s operations is unlikely. The company’s shares on NASDAQ traded around $19 prior to the announcement. However, a notable decrease of nearly […]
