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Why Penn National Gaming investors can bet on 3Q14 results

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Part 6
Why Penn National Gaming investors can bet on 3Q14 results PART 6 OF 13

Penn National Gaming: New offerings for casino-goers

Recent developments

Penn National Gaming, Inc. (PENN) has become a well-diversified casino company through various property acquisitions and expansions it’s made over the years. In this part, we’ll review the company’s key property holdings.

Other casino companies that are undergoing significant developments include MGM Resorts International (MGM), Las Vegas Sands Corp. (LVS), and Wynn Resorts, Limited (WYNN). These companies, as well as PENN, are part of the Consumer Discretionary Select Sector SPDR Fund (XLY).

Penn National Gaming: New offerings for casino-goers

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Key properties

Zia Park Casino

Located in New Mexico, Zia Park Casino is a 154-room five-story hotel featuring six suites, a breakfast room, a business center, meeting rooms, and an exercise room. The total budget for the project was $26 million. It opened on August 28, 2014.

Dayton Raceway

Located in Ohio, Dayton Raceway is a new Hollywood-themed facility featuring a 5/8 mile harness racetrack with simulcasting. The Raceway has the capacity to hold up to 1,500 video lottery terminals. It also offers restaurants, bars, and other amenities. The total budget for the facility was $165 million. It also opened on August 28, 2014.

Mahoning Valley Race Track

Located in Ohio, Mahoning Valley Race Track is a new Hollywood-themed facility featuring a new one-mile thoroughbred racetrack with simulcasting. Mahoning has the capacity to hold up to 1,000 video lottery terminals. It also offers various restaurants, bars, and other amenities. The total budget for Mahoning was $161 million. It opened on September 17, 2014.

Penn National Gaming: New offerings for casino-goers

Plainridge Park Casino

Located in Massachusetts, Plainridge Park Casino is a gaming operation. It features 1,250 slot machines, as well as various dining and entertainment options. The casino will be integrated with an existing live-harness racing operation that offers simulcasting. The total budget for the project is $225 million. It’s scheduled to open in June 2015.

Jamul Indian Village project

Located in California, the Jamul Indian Village project is planned to feature over 1,700 slot machines, 50 live table games, multiple restaurants, bars, and lounges. The total budget for the project is $360 million. It’s expected to open in mid-2016.

In the next part of this series, we’ll take a look at PENN’s key executive management.

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