UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13
OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Earliest
Event Reported:
(Exact name of registrant as specified in its charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant Section 12(b) of the Act:
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symbol |
Name
of each exchange on which registered |
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 8.01 of this Current Report on Form 8-K under the caption “Borrowing under Revolving Credit Facility” is incorporated herein by reference.
| Item 8.01. | Other Events. |
Borrowing under Revolving Credit Facility
As previously disclosed, Penn National Gaming, Inc. (“Penn National” or the “Company”) is party to a Revolving Credit Facility, the material terms of which are described in the section entitled "Liquidity and Capital Resources–Senior Secured Credit Facilities" in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2020, and incorporated by reference.
As of December 31, 2019, $140.0 million was outstanding under the Revolving Credit Facility. On March 13, 2020, the Company provided notice to the lenders to borrow the remaining available amount of $430 million under the Revolving Credit Facility so that a total of $700 million is currently outstanding (including $30 million in letters of credit). The current interest rate for borrowings under the Revolving Credit Facility is the one month LIBOR rate plus an adjusted spread based on leverage as reflected in the Revolving Credit Facility. The Revolving Credit Facility expires October 19, 2023.
The Company elected to draw down the remaining available funds from the Revolving Credit Facility to ensure it maintains ample financial flexibility in light of the spread of novel coronavirus (COVID-19). The Company notes that it had sufficient liquidity prior to taking this action, it has no meaningful maturities due until 2023, and there are currently no plans to deploy the drawn-down funds.
Other Recent Developments
Penn National maintains strong and longstanding relationships with its regulators, team members, REIT landlords, lenders, suppliers, customers, insurance carriers, and other key stakeholders, all of which places the Company in a strong position to successfully manage disruptions to its business. In addition, Penn National is continually exploring additional ways in which it can offset the temporary impact of COVID-19 to its business, including revisiting maintenance and project capex commitments in order to preserve 2020 liquidity. See Exhibits 99.1 – 99.6 of this Current Report on Form 8-K, which are incorporated herein by reference, for copies of recent Company press releases.
Jay Snowden, President and Chief Executive Officer of Penn National, said, “First and foremost, our thoughts are with all those who have been affected by COVID-19. We are grateful to our local and state governments and healthcare workers around the country for their tireless efforts to combat this outbreak. We are proud to join the fight to help protect the health and welfare of our guests and team members, which is always our paramount concern. Since the coronavirus threat began, we have implemented stringent CDC-recommended protocols throughout our enterprise, including increased daily cleaning regimens at our facilities, maximizing air circulation, cancelling or postponing all concerts and live events, and we’re in the process of temporarily closing down buffets, among other initiatives.
Mr. Snowden continued, “We are confident that we are well-positioned to continue to drive growth and value-creation for our shareholders. As the nation’s largest regional gaming operator with 41 properties in 19 states, Penn National benefits from the broadest and most diversified geographic footprint in the industry, and longstanding partnerships with our REIT landlords. We also have made significant progress executing on our strategy to become the best-in-class omni-channel provider of retail and online gaming and sports betting entertainment,” concluded Mr. Snowden.
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Forward Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Specifically, forward-looking statements may include, among others, statements concerning: COVID-19, the length of time Penn National’s casinos in certain jurisdictions will be required to remain closed and the impact of these or other potential closures on Penn National and its stakeholders, our expectations of future results of operations and financial condition, including our ability to reduce our debt; our ability to maintain strong relationships with our regulators, team members, landlords, lenders, suppliers, customers, insurance carriers, and other stakeholders; the actions of regulatory, legislative, executive or judicial decisions at the federal, state or local level with regard to our business and the impact of any such actions; and our expectations regarding economic and consumer conditions. As a result, actual results may vary materially from expectations. For more information on the potential factors that could affect the Company’s financial results and business, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K and its Current Reports on Form 8-K. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this Current Report on Form 8-K may not occur.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |
| 99.1 | Press Release dated March 13 of Penn National Gaming, Inc. | |
| 99.2 | Press Release dated March 13 of Penn National Gaming, Inc. | |
| 99.3 | Press Release dated March 14 of Penn National Gaming, Inc. | |
| 99.4 | Press Release dated March 14 of Penn National Gaming, Inc. | |
| 99.5 | Press Release dated March 15 of Penn National Gaming, Inc. | |
| 99.6 | Press Release dated March 15 of Penn National Gaming, Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 16, 2020
| PENN NATIONAL GAMING, INC. | ||
| By: | /s/ Carl Sottosanti | |
| Carl Sottosanti | ||
| Executive Vice President, General Counsel and Secretary | ||
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Exhibit 99.1
PENN NATIONAL GAMING TO TEMPORARILY SUSPEND
OPERATIONS AT ILLINOIS CASINOS
UNDER ORDER OF ILLINOIS GAMING BOARD
WYOMISSING, PA (March 13, 2020) – Penn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or the “Company”) announced today that it has received an order from the Illinois Gaming Board that it must temporarily suspend operations for 14 days at its three casinos beginning Monday, March 16, as a precautionary measure against the ongoing spread of COVID-19.
“The health and well-being of our guests and team members will always be our paramount concern,” said Jay Snowden, President and CEO of Penn National Gaming. “Since the coronavirus threat began there have been no confirmed cases of COVID-19 at any Penn National casino, and we have implemented stringent CDC-recommended protocols throughout our enterprise, including increased daily cleaning regimens at our facilities, maximizing air circulation, cancelling or postponing all concerts and live events, and we’re in the process of temporarily closing down buffets, among other initiatives.
“As for our 1,200 team members at Hollywood Casino Aurora, Hollywood Casino Joliet and Hollywood Casino Alton, who will be impacted by this temporary closure, we plan to continue to pay their full wages and benefits for the 14 day period. This is a challenging time for all of us, and we are very appreciative of the overwhelming support and understanding from our guests and team members. We look forward to reopening our doors just as soon as possible. In the meantime, we will be taking the opportunity to continue our deep cleaning efforts and preparing our casinos to welcome our loyal customers back,” concluded Mr. Snowden.
# # #
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in 41 gaming and racing properties in 19 jurisdictions and video gaming terminal operations with a focus on slot machine entertainment. We also offer live sports betting at our properties in Indiana, Iowa, Mississippi, Pennsylvania and West Virginia. In total, Penn National’s properties feature approximately 51,000 gaming machines, 1,300 table games and 8,800 hotel rooms. In addition, the Company operates an interactive gaming division through its subsidiary, Penn Interactive Ventures, LLC, which recently launched iGaming in Pennsylvania and, through strategic partnerships, operates online sports betting in Indiana, Pennsylvania and West Virginia. The Company also has a leading customer loyalty program, mychoice, with over five million active customers.
Forward-looking Statements
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding COVID-19, the length of time Penn National’s casinos in Illinois will be required to remain closed and the impact of these or other potential closures on Penn National and its stakeholders are subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, Penn National cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. For more information on the potential factors that could affect the Company’s financial results and business, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K and its Current Reports on Form 8-K. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
Exhibit 99.2
PENN NATIONAL GAMING TO TEMPORARILY SUSPEND OPERATIONS AT OHIO CASINOS
UNDER EXECUTIVE ORDER OF GOVERNOR MIKE DEWINE
WYOMISSING, PA (March 13, 2020) – Penn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or the “Company”) announced today that an Executive Order by Governor Mike DeWine will cause it to temporarily suspend operations at its four gaming properties in the state as a precautionary measure against the ongoing spread of COVID-19.
According to the Executive Order, the state’s 11 casinos and racetracks with video lottery terminals are considered places of “mass gatherings” and are not allowed to accommodate more than 100 persons at any one time. Since Hollywood Casino Columbus, Hollywood Casino Toledo, Hollywood Gaming at Dayton Raceway and Hollywood Gaming at Mahoning Valley Race Course collectively employ more than 2,000 team members, Penn National is left with no choice but to temporarily close those facilities.
“The health and well-being of our guests and team members will always be our paramount concern,” said Jay Snowden, President and CEO of Penn National Gaming. “Since the coronavirus threat began there have been no confirmed cases of COVID-19 at any Penn National casino, and we have implemented stringent CDC-recommended protocols throughout our enterprise, including increased daily cleaning regimens at our facilities, maximizing air circulation, cancelling or postponing all concerts and live events, and we’re in the process of temporarily closing down buffets, among other initiatives.
“As for our 2,000 team members who will be impacted by this temporary closure, we plan to continue to pay their full wages and benefits through the end of March, with the hope that the situation on the ground in Ohio will permit the Governor to lift his Order by then. This is a challenging time for all of us, and we are very appreciative of the overwhelming support and understanding from our guests and team members. We look forward to reopening our doors just as soon as possible. In the meantime, we will be taking the opportunity to continue our deep cleaning efforts and preparing our casinos to welcome our loyal customers back,” concluded Mr. Snowden.
# # #
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in 41 gaming and racing properties in 19 jurisdictions and video gaming terminal operations with a focus on slot machine entertainment. We also offer live sports betting at our properties in Indiana, Iowa, Mississippi, Pennsylvania and West Virginia. In total, Penn National’s properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms. In addition, the Company operates an interactive gaming division through its subsidiary, Penn Interactive Ventures, LLC, which recently launched iGaming in Pennsylvania and, through strategic partnerships, operates online sports betting in Indiana, Pennsylvania and West Virginia. The Company also has a leading customer loyalty program, mychoice, with over five million active customers.
Forward-looking Statements
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding COVID-19, the length of time Penn National’s casinos in Ohio will be required to remain closed and the impact of these or other potential closures on Penn National and its stakeholders are subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, Penn National cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. For more information on the potential factors that could affect the Company’s financial results and business, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K and its Current Reports on Form 8-K. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
Exhibit 99.3
PENN NATIONAL GAMING TO TEMPORARILY SUSPEND OPERATIONS AT
ITS CASINOS IN INDIANA
WYOMISSING, PA (March 14, 2020) – Penn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or the “Company”) announced today that pursuant to an order from the Indiana Gaming Commission (“IGC”), it will temporarily suspend operations at Hollywood Casino Lawrenceburg and Ameristar East Chicago for a period of two weeks beginning Monday, March 16, 2020, as a precautionary measure against the ongoing spread of COVID-19. The IGC will remain in consultation with the state’s licensed casinos, public health authorities and government officials to determine safe protocols for when operations may resume.
“The health and well-being of our guests and team members will always be our paramount concern,” said Jay Snowden, President and CEO of Penn National Gaming. “Since the coronavirus threat began we have implemented stringent CDC-recommended protocols throughout our enterprise, including increased daily cleaning regimens at our facilities, maximizing air circulation, cancelling or postponing all concerts and live events, and we’re in the process of temporarily closing down buffets, among other initiatives.
“As for our nearly 2,000 team members at Hollywood Casino Lawrenceburg and Ameristar East Chicago who will be impacted by this temporary closure, we plan to continue to pay their wages and benefits for the two-week period. This is a challenging time for all of us, and we are very appreciative of the overwhelming support and understanding from our guests and team members. We look forward to reopening our doors just as soon as possible. In the meantime, we will be taking the opportunity to continue our deep cleaning efforts and preparing our casino to welcome our loyal customers back,” concluded Mr. Snowden.
# # #
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in 41 gaming and racing properties in 19 jurisdictions and video gaming terminal operations with a focus on slot machine entertainment. We also offer live sports betting at our properties in Indiana, Iowa, Mississippi, Pennsylvania and West Virginia. In total, Penn National’s properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms. In addition, the Company operates an interactive gaming division through its subsidiary, Penn Interactive Ventures, LLC, which recently launched iGaming in Pennsylvania and, through strategic partnerships, operates online sports betting in Indiana, Pennsylvania and West Virginia. The Company also has a leading customer loyalty program, mychoice, with over five million active customers.
Forward-looking Statements
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding COVID-19, the length of time Penn National’s casinos in Indiana will be required to remain closed and the impact of these or other potential closures on Penn National and its stakeholders are subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, Penn National cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. For more information on the potential factors that could affect the Company’s financial results and business, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K and its Current Reports on Form 8-K. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
Contact:
Eric Schippers
Senior Vice President Public Affairs & Government Relations
610-373-2400
Exhibit 99.4
PENN NATIONAL GAMING TO TEMPORARILY SUSPEND OPERATIONS AT
PLAINRIDGE PARK CASINO
WYOMISSING, PA (March 14, 2020) – Penn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or the “Company”) announced today that pursuant to an order from the Massachusetts Gaming Commission (“MGC”), it will temporarily suspend operations at Plainridge Park Casino for a period of two weeks beginning Sunday, March 15, 2020, at 6:00 a.m. as a precautionary measure against the ongoing spread of COVID-19. The MGC will remain in close consultation with the state’s licensed casinos, public health authorities and government officials to determine safe protocols for when operations may resume.
“The health and well-being of our guests and team members will always be our paramount concern,” said Jay Snowden, President and CEO of Penn National Gaming. “Since the coronavirus threat began we have implemented stringent CDC-recommended protocols throughout our enterprise, including increased daily cleaning regimens at our facilities, maximizing air circulation, cancelling or postponing all concerts and live events, and we’re in the process of temporarily closing down buffets, among other initiatives.
“As for our nearly 400 team members at Plainridge Park Casino, who will be impacted by this temporary closure, we plan to continue to pay their wages and benefits for the two week period. This is a challenging time for all of us, and we are very appreciative of the overwhelming support and understanding from our guests and team members. We look forward to reopening our doors just as soon as possible. In the meantime, we will be taking the opportunity to continue our deep cleaning efforts and preparing our casino to welcome our loyal customers back,” concluded Mr. Snowden.
# # #
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in 41 gaming and racing properties in 19 jurisdictions and video gaming terminal operations with a focus on slot machine entertainment. We also offer live sports betting at our properties in Indiana, Iowa, Mississippi, Pennsylvania and West Virginia. In total, Penn National’s properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms. In addition, the Company operates an interactive gaming division through its subsidiary, Penn Interactive Ventures, LLC, which recently launched iGaming in Pennsylvania and, through strategic partnerships, operates online sports betting in Indiana, Pennsylvania and West Virginia. The Company also has a leading customer loyalty program, mychoice, with over five million active customers.
Forward-looking Statements
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding COVID-19, the length of time Penn National’s casino in Massachusetts will be required to remain closed and the impact of these or other potential closures on Penn National and its stakeholders are subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, Penn National cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. For more information on the potential factors that could affect the Company’s financial results and business, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K and its Current Reports on Form 8-K. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
Contact:
Eric Schippers
Senior Vice President Public Affairs & Government Relations
610-373-2400
Exhibit 99.5
PENN NATIONAL GAMING TO TEMPORARILY SUSPEND
OPERATIONS
AT ZIA PARK CASINO HOTEL & RACETRACK IN NEW MEXICO
WYOMISSING, PA (March 15, 2020) – Penn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or the “Company”) announced today that pursuant to an order from Governor Michelle Lujan Grisham, Zia Park Casino Hotel & Racetrack will be temporarily suspending gaming operations from Monday, March 16, 2020 until April 10, 2020 as a precautionary measure against the ongoing spread of COVID-19. The hotel will remain open and Zia Park will continue to consult with the Governor’s office and public health authorities to determine safe protocols for when gaming operations can resume.
“The health and well-being of our guests and team members will always be our paramount concern,” said Jay Snowden, President and CEO of Penn National Gaming. “Since the coronavirus threat began there have been no confirmed cases of COVID-19 at any Penn National casino, and we have implemented stringent CDC-recommended protocols throughout our enterprise, including increased daily cleaning regimens at our facilities, maximizing air circulation, cancelling or postponing all concerts and live events, and we’re in the process of temporarily closing down buffets, just to name a few.
“As for our 200 team members at Zia Park, who will be impacted by this temporary closure, we plan to continue to pay them their full wages and benefits for two weeks, at which time we will reevaluate the situation. This is a challenging time for all of us, and we are very appreciative of the overwhelming support and understanding from our guests and team members. We look forward to reopening our doors just as soon as possible. In the meantime, we will be taking the opportunity to continue our deep cleaning efforts and preparing our casinos to welcome our loyal customers back,” concluded Mr. Snowden.
# # #
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in 41 gaming and racing properties in 19 jurisdictions and video gaming terminal operations with a focus on slot machine entertainment. We also offer live sports betting at our properties in Indiana, Iowa, Mississippi, Pennsylvania and West Virginia. In total, Penn National’s properties feature approximately 51,000 gaming machines, 1,300 table games and 8,800 hotel rooms. In addition, the Company operates an interactive gaming division through its subsidiary, Penn Interactive Ventures, LLC, which recently launched iGaming in Pennsylvania and, through strategic partnerships, operates online sports betting in Indiana, Pennsylvania and West Virginia. The Company also has a leading customer loyalty program, mychoice, with over five million active customers.
Forward-looking Statements
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding COVID-19, the length of time Penn National’s casino in New Mexico will be required to remain closed and the impact of these or other potential closures on Penn National and its stakeholders are subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, Penn National cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. For more information on the potential factors that could affect the Company’s financial results and business, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K and its Current Reports on Form 8-K. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
Exhibit 99.6
PENN NATIONAL GAMING TO TEMPORARILY SUSPEND OPERATIONS AT
GREEKTOWN CASINO-HOTEL IN MICHIGAN
WYOMISSING, PA (March 15, 2020) – Penn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or the “Company”) announced today that pursuant to an order from the Michigan Gaming Control Board (“MGCB”), it will temporarily suspend operations at Greektown Casino-Hotel for a period of two weeks beginning at 5:00 p.m. on Monday, March 16, 2020, as a precautionary measure against the ongoing spread of COVID-19. The MGCB will remain in consultation with the state’s licensed casinos, public health authorities and government officials to determine safe protocols for when operations may resume.
“The health and well-being of our guests and team members will always be our paramount concern,” said Jay Snowden, President and CEO of Penn National Gaming. “Since the coronavirus threat began we have implemented stringent CDC-recommended protocols throughout our enterprise, including increased daily cleaning regimens at our facilities, maximizing air circulation, cancelling or postponing all concerts and live events, and we’re in the process of temporarily closing down buffets, among other initiatives.
“As for our nearly 1,650 team members at Greektown Casino-Hotel who will be impacted by this temporary closure, we plan to continue to pay their wages and benefits for the two-week period. This is a challenging time for all of us, and we are very appreciative of the overwhelming support and understanding from our guests and team members. We look forward to reopening our doors just as soon as possible. In the meantime, we will be taking the opportunity to continue our deep cleaning efforts and preparing our casino to welcome our loyal customers back,” concluded Mr. Snowden.
# # #
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in 41 gaming and racing properties in 19 jurisdictions and video gaming terminal operations with a focus on slot machine entertainment. We also offer live sports betting at our properties in Indiana, Iowa, Mississippi, Pennsylvania and West Virginia. In total, Penn National’s properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms. In addition, the Company operates an interactive gaming division through its subsidiary, Penn Interactive Ventures, LLC, which recently launched iGaming in Pennsylvania and, through strategic partnerships, operates online sports betting in Indiana, Pennsylvania and West Virginia. The Company also has a leading customer loyalty program, mychoice, with over five million active customers.
Forward-looking Statements
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding COVID-19, the length of time Penn National’s casino in Michigan will be required to remain closed and the impact of these or other potential closures on Penn National and its stakeholders are subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, Penn National cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. For more information on the potential factors that could affect the Company’s financial results and business, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K and its Current Reports on Form 8-K. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
Contact:
Eric Schippers
Senior Vice President, Public Affairs & Government Relations
610-373-2400