two-month extension to present the PGCB<\/a> with a formal proposal for the site of its satellite casino in York. Casino operators have six months from their winning auctions to present such materials, but have the option to file for a two-month extension with the gaming regulator.<\/p>\nMount Airy was granted the same extension last week for its satellite in Lawrence County.<\/p>\n
Growing Empire<\/b><\/h2>\n
Penn National is the oldest gaming operator in Pennsylvania. It’s also one of the largest operators of regional casinos in the United States.<\/p>\n
After reaching a deal late last year to acquire rival Pinnacle Entertainment for $2.8 billion, Penn National will soon control 41 properties in 19 states and Canada. But the gaming company remains committed to where it all began.<\/p>\n
When the Pinnacle deal closes, Penn National will add a second casino to its Pennsylvania portfolio by way of the Meadows Casino in western PA. The two satellites will double its number of Keystone State properties.<\/strong><\/span><\/p>\nSchippers says the goal is to “drive incremental value for our shareholders.” The company has done just that over the last five years.<\/p>\n
Following the US recession, Penn shares on NASDAQ were trading for around $12 in 2013. Today, each stock is worth roughly $34, an increase of more than 180 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Penn National Gaming confirmed this week that it has dropped its lawsuit against the State of Pennsylvania challenging the legality of so-called “mini-casinos.” The Category 4 satellite casinos are permitted to house up to 750 slot machines and 30 table games. The state’s expanded gambling package signed into law last fall by Governor Tom Wolf […]<\/p>\n","protected":false},"author":25,"featured_media":84549,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,18,61,13592],"tags":[],"acf":[],"yoast_head":"\n
Penn National Drops Satellite Casino Lawsuit Against Pennsylvania<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n