Penn National Gaming, Inc.

Penn National Gaming, Inc.

Penn National Gaming, Inc.

Overview
Date Founded

1982

Headquarters

825 Berkshire Boulevard, Suite 200, Wyomissing, PA, 19610, USA

Type of Company

Public

Employees (Worldwide)

28.3K

Industries

Casinos & Gaming
Consumer Services
Internet Software & Services

Company Description

Penn National Gaming owns, operates or has ownership interests in gaming and racing facilities with a focus on slot machine entertainment. The Company presently operates twenty-nine facilities in nineteen jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn National's operated facilities feature approximately 36,800 gaming machines, 850 table games, 2,900 hotel rooms and 1.6 million square feet of gaming floor space.

Contact Data
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Executives & Employees

President, Chief Executive Officer & Director

Chief Financial Officer & Executive Vice President

Executive Vice President, General Counsel & Secretary

Senior Vice President & Chief Accounting Officer

Executive Vice President-Operations

Senior Vice President

Senior Vice President of Public Affairs & Government Relations

Senior Vice President, Regional Operations

Senior Vice President, Interactive Gaming

Board of Directors

Executive Officer at Centerview Capital Technology Fund-A LP

Founding Partner at Drucker & Scaccetti PC

Former Vice Chairman at Rock School for Dance Education

Director at Penn National Gaming, Inc.

Vice Chairman at Madlyn & Leonard Abramson Center For Jewish Life

President, Chief Executive Officer & Director at Penn National Gaming, Inc.

Founder at Penn National Gaming, Inc.

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Owners & Shareholders
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Channing Capital Management employs a long-term value-oriented approach to investing in US mid-cap and small-cap stocks. The firm utilizes a fundamental, bottom-up value investment philosophy that focuses on undervalued and neglected stocks primarily with a market-cap of $2 billion to $15 billion. They look for companies that are trading at significant discounts to their intrinsic value. Portfolios are constructed on a stock-by-stock basis with a focus on the return potential of individual securities. Channing's relatively concentrated approach focuses on stock picking rather than market timing or sector allocation. The firm relies primarily on stock selection to generate above average returns as opposed to forecasts which emphasize sector weightings relative to a portfolio benchmark. However, Channing does employ sector and industry diversification as a risk management tool.

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HG Vora Capital Management is an event-driven and value-oriented investment management firm which seeks to generate attractive risk-adjusted absolute returns by opportunistically investing in actively traded debt and equity instruments on a long and short basis. The firm has an extensive experience investing in certain sectors, including but not limited to gaming, lodging, leisure, real estate, retail and consumer, specialty finance, travel and other related sectors. They typically invest in businesses that may be characterized by an over leveraged balance sheet, operational challenges or may be undergoing a restructuring or some other form of strategic change. HG Vora Capital Management's primary focus is on North American securities, but may include Europe, Asia and other non-US markets. The firm bases their investment decisions on fundamental and comprehensive research and analysis.

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Copper Rock Capital Partners focuses on managing and servicing small and small- to mid-cap growth clients. The firm seeks to add value through bottom-up stock selection. Investment decisions are based on in-depth fundamental research. The investment team generates initial investment ideas from a number of sources including organic ideas, proprietary screens and bottom-up themes. This eligible universe is then streamlined to an investable universe. Investment ideas that survive this initial research stage are subject to rigorous and detailed fundamental analysis before being purchased into clients' portfolios. Copper Rock Capital Partners incorporates rigorous buy and sell disciplines in the investment process. They invest in companies with growing revenues, expanding margins and increasing market shares. In addition to these characteristics, the firm looks for companies with strong management teams. Holdings are reduced or sold as target prices are attained, if there is a change in the company's management team or stated business objectives or if there is deterioration in a company's fundamentals. Their investment strategies include: International Small Cap, Global Small Cap, Emerging Markets Small Cap, Global All Cap and Concentrated Global All Cap.

Recent Transactions
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Penn National Gaming, Inc. purchases Barstool Sports, Inc. from The Chernin Group LLC

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Penn National Gaming, Inc. purchases Bossier Casino Venture, Inc.

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Penn National Gaming, Inc. purchases Pinnacle Entertainment, Inc.

Insider Transactions
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Transaction Advisors
Accountant

Advised onPenn National Gaming, Inc. purchases Argosy Gaming Co.

Investment Advisor

Advised onPenn National Gaming, Inc. purchases Argosy Gaming Co.

Legal Advisor

Advised onPenn National Gaming, Inc. purchases Pinnacle Entertainment, Inc.

Legal Advisor

Advised onPenn National Gaming, Inc. purchases Pinnacle Entertainment, Inc.

Founder

Advised onMohegan Gaming & Entertainment purchases The Downs Racing, Inc. from Penn National Gaming, Inc.

Legal Advisor

Advised onPenn National Gaming, Inc. purchases Tropicana Las Vegas Hotel & Casino, Inc. from ONEX Corp.

Advisors & Consultants
Advisor

President & Director at Pinnacle Entertainment, Inc.

Legal Advisor

Shareholder at Greenberg Traurig LLP

Legal Advisor

Partner at Gibson, Dunn & Crutcher LLP

Clients

Score Media & Gaming, Inc. engages in the development of mobile sports applications. It delivers live scores, news, stats, and betting information. Its products include theScore, theScore BET, and S esports. The company was founded on August 30, 2012 and is headquartered in Vancouver, Canada.

Retama Development Corp. operates and manages the Retama park. It is a local government corporation organized by and acting on behalf of the City of Selma, Texas. The company is headquartered in Selma, TX

Key Stats and Financials As of 2019
Market Capitalization
$1.93B
Total Enterprise Value
$13.9B
Earnings Per Share
$0.37
Revenue
$5.3B
Enterprise Value Sales
2.62x
Debt TEV
0.82x
TEVNet Income
316.3x
Total Debt
$11.3B
Net Profit
$43.9M
Total Equity
$1.85B
Three Year Compounded Annual Growth Rate Of Revenue
20.44%
Five Year Compounded Annual Growth Rate Of Revenue
15.4%
EBITDAMargin
23.84%
Enterprise Value EBITDAOperating
7.37x
EBITDA
$1.26B
Non-Profit Donations & Grants Received
$10K
11/30/2013
Political Donations
$1,000
2013
$1,000
2013
$1,000
2013
Suppliers
Gaming & Leisure Properties, Inc. Trusts & Funds | Wyomissing, PA

Gaming & Leisure Properties, Inc. is engaged in acquiring, financing, and owning real estate property to be leased to gaming operators in triple net lease arrangements. It operates through the GLP Capital and TRS Properties segments. The GLP Capital segment consists of the leased real property and represents the majority of business. The TRS Properties segment includes Hollywood Casino Perryville and Hollywood Casino Baton Rouge. The company was founded on February 13, 2013 and is headquartered in Wyomissing, PA.

Scientific Games Corp. Computer Software | Las Vegas, NV

Scientific Games Corp. engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, Lottery, and SciPlay and Digital. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services. The Lottery segment comprises of system-based services and product sales business, and instant games business. The SciPlay segment developes and publishes digital games on mobile and web platforms. The Digital Segment provides a comprehensive suite of digital gaming and sports wagering solutions and services, including digital RMG and sports wagering solutions, distribution platforms, content, products and services. The company was founded on July 2, 1984 and is headquartered in Las Vegas, NV.

Ebix, Inc. Internet Software & Services | Johns Creek, GA

Ebix, Inc. engages in the provision of software and e-commerce services to the insurance, finance, and healthcare industries. It operates through the following product and service channels: EbixCash Exchanges, Insurance Exchanges, and Risk Compliance Solutions. The EbixCash Exchanges channel offers money transfer, payment, and ticketing and travel services. The Insurance Exchanges channel includes software, setup, customization, transaction processing, maintenance, and hosting services. The Risk Compliance Solutions channel comprises of certificates of insurance and consulting services. The company was founded in 1976 and is headquartered in John Creek, GA.

Competitors
MGM Resorts International Casinos & Gaming - Canton, Massachusetts

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm's casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George's County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.

Zynga, Inc. Computer Software - San Francisco, California

Zynga Inc. (NASDAQ: ZNGA) is the world's leading provider of social game services with more than 240 million monthly active users playing its games, which include CityVille, Zynga Poker, Draw Something, Hidden Chronicles, FarmVille, CastleVille, Words With Friends, Empires & Allies, Scramble With Friends, Café World, The Pioneer Trail, Indiana Jones™ Adventure World and Mafia Wars. Zynga's games are available on a number of global platforms, including Facebook, Zynga.com, Google+, Tencent, Apple iOS and Google Android. Through Zynga.org, Zynga players have raised more than $10 million for world social causes.

Wynn Resorts Ltd. Casinos & Gaming - Las Vegas, NV

Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 and NASDAQ-100 Indexes. Wynn Resorts owns and operates Wynn Las Vegas (www.wynnlasvegas.com), Encore (www.encorelasvegas.com) and Wynn Macau (www.wynnmacau.com). Wynn Las Vegas, a luxury hotel and destination casino resort located on the Las Vegas Strip features 2,716 luxurious guest rooms and suites, an approximately 111,000 square foot casino, 22 food and beverage outlets, an on-site 18-hole golf course, approximately 223,000 square feet of meeting space, an on-site Ferrari and Maserati dealership, and approximately 74,000 square feet of retail space. Encore, an expansion of Wynn Las Vegas, opened on December 22, 2008. Encore is located immediately adjacent to Wynn Las Vegas and features a 2,034 all-suite hotel, approximately 72,000 square foot casino, 12 food and beverage outlets, a night club, a spa and salon, approximately 60,000 square feet of meeting space and approximately 27,000 square feet of upscale retail outlets. Wynn Macau is a destination casino resort in the Macau Special Administrative Region of the People's Republic of China and currently features 600 deluxe hotel rooms and suites, approximately 222,000 square foot casino, casual and fine dining in six restaurants, approximately 48,000 square feet of retail space, a health club, pool and spa, along with lounges and meeting facilities. We opened Encore at Wynn Macau on April 21, 2010. Encore is an expansion of Wynn Macau which adds a fully-integrated luxury hotel with 414 spacious suites and villas along with restaurants, additional retail space and gaming space. Mr. Wynn was Chairman of the Board, President and Chief Executive Officer of Mirage Resorts, Incorporated and its predecessor from 1973 to 2000. In that role, he was responsible for the development of Bellagio, The Mirage, Treasure Island at The Mirage and the Golden Nugget in Las Vegas, Nevada as well as the Atlantic City Golden Nugget in New Jersey and Beau Rivage in Biloxi, Mississippi.

Awards & Honors
Rank #764
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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