REBusinessOnline

Penn National Gaming Reopens 73 Percent of Casino Properties Across National Portfolio

WYOMISSING, PA. — Penn National Gaming, a Pennsylvania-based casino owner and operator, has reopened 73 percent of its casino properties across its national portfolio. The company closed all 41 of its casino properties across 19 states following the COVID-19 outbreak. The company has implemented property-specific safety practices based on the various state laws, including social distancing and the requisition of masks in some venues.

In February 2020, the company acquired a 36 percent interest in online sports and entertainment platform Barstool Sports for $163 million. The acquisition introduced an omni-channel approach to the business, including mobile casinos and online retail. The company’s stock price closed at $33.97 per share on June 23, compared with $18.85 per share at the same time last year.

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