Profile: Penn National Gaming, Inc. (PENN.O)

Penn National Gaming, Inc. (Penn National), incorporated in 1982, is a diversified, multi-jurisdictional owner, and manager of gaming and pari-mutuel properties. It owns or operates 19 facilities located in Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario. The Company has its owned gaming properties, which includes Charles Town Entertainment Complex, Argosy Casino Lawrenceburg, Hollywood Casino Aurora, Empress Casino Hotel, Argosy Casino Riverside, Hollywood Casino Baton Rouge, Argosy Casino Alton, Hollywood Casino Tunica, Hollywood Casino Bay St. Louis, Argosy Casino Sioux City, Boomtown Biloxi, Hollywood Slots Hotel and Raceway, and Bullwhackers and Black Gold Casino at Zia Park.

Owned Properties

The Charles Town Entertainment Complex is located within approximately a one-hour drive from Baltimore, Maryland and Washington, D.C. The Charles Town Entertainment Complex has 184,348 square feet of gaming space, with 5,032 gaming machines, and a 153-room hotel. The complex also features live thoroughbred racing at a refurbished, 3/4-mile all-weather, lighted thoroughbred racetrack with a 3,000-seat grandstand, parking for 6,048 vehicles and simulcast wagering and dining.

The Argosy Casino Lawrenceburg is located on the Ohio River in Lawrenceburg, Indiana approximately 15 miles west of Cincinnati and is the closest casino to the Cincinnati metropolitan area, its principal target market. The casino also services the major metropolitan markets of Dayton and Columbus, Ohio and, to a lesser extent, Indianapolis, Indiana and Lexington, Kentucky. The casino has 74,300 square feet of gaming space on three levels with 2,516 slot machines, 59 table games and 17 poker tables. The complex also features a 300-room hotel, a land-based entertainment pavilion and support facility featuring a 350-seat buffet restaurant, two specialty restaurants, an entertainment lounge, a 1,710 space parking garage, and a 1,640 space remote parking lot.

Hollywood Casino Aurora, part of the Chicagoland market, is located in Aurora, Illinois, approximately 35 miles west of Chicago. It has 53,000 square foot single-level dockside casino facility with 1,172 gaming machines, 20 gaming tables, and five poker tables. The facility features two upscale lounges, a steakhouse, a buffet, a fast food outlet, and a private dining room. It also has two parking garages with approximately 1,564 parking spaces and a gift shop.

The Empress Casino Hotel, part of the Chicagoland market, is located on the Des Plaines River in Joliet, Illinois, approximately 40 miles southwest of Chicago. This barge-based casino provides 50,000 square feet of gaming space on two levels with 1,194 slot machines, 20 table games and three poker tables. The casino features a 150,000 square foot entertainment pavilion with three restaurants, an entertainment lounge and banquet/conference facilities. The complex also includes a 100-room hotel, surface parking areas with approximately 1,616 spaces and an 80-space recreational vehicle park.

The Argosy Casino Riverside is located on the Missouri River approximately five miles from downtown Kansas City in Riverside, Missouri. This Las Vegas-style casino features approximately 56,400 square feet of gaming space on one level with approximately 1,950 slot machines, 39 table games and eight poker tables.

Hollywood Casino Baton Rouge is one of two dockside riverboat gaming facilities operating in Baton Rouge, Louisiana. The Hollywood Casino Baton Rouge property features a riverboat casino, reminiscent of a nineteenth century Mississippi River paddlewheel steamboat. The riverboat features approximately 28,000 square feet of gaming space, 1,145 gaming machines and 27 gaming machines. The facility also includes a two-story, 58,000-square foot dockside building featuring a variety of amenities, including a steakhouse, a 268-seat buffet, a nightclub that doubles as a players’ event area, a lobby bar, a public atrium, two meeting rooms, 1,548 parking spaces, a players’ club booth, a deli, and a gift shop.

The Argosy Casino Alton is located on the Mississippi River in Alton, Illinois approximately 20 miles northeast of downtown St. Louis. The Argosy Casino Alton is a three-deck gaming facility featuring 23,000 square feet of gaming space with 1,100 slot machines and 18 table games. The Argosy Casino Alton includes an entertainment pavilion and features a 124-seat buffet, a restaurant and a 400-seat main showroom. The facility includes parking areas with 1,258 spaces.

Hollywood Casino Tunica is located in Tunica, Mississippi. Tunica County is the gaming jurisdiction to, and is accessible from, the Memphis, Tennessee metropolitan area. It features 54,000 square feet of gaming space at a single-level casino with approximately 1,301 slot machines, 28 table games, and six poker tables. Hollywood Casino Tunica’s 494-room hotel and 123-space recreational vehicle park provide overnight accommodations for its patrons. The casino includes multimedia displays of memorabilia from adventure motion pictures. Additional entertainment amenities include a steakhouse, the Hollywood Epic Buffet, a 1950’s-style diner, an entertainment lounge, a premium players’ club, a themed bar facility, a non-smoking slot room, an indoor pool and showroom, as well as banquet and meeting facilities. There is also an 18-hole championship golf course adjacent to the facility that is owned and operated through a joint venture of three gaming companies. In addition, Hollywood Casino Tunica offers parking for 1,635 cars.

Hollywood Casino Bay St. Louis is located in Bay St. Louis, Mississippi. Hollywood Casino Bay St. Louis offers a 40,000 square foot casino, and features 21 table games, 6 poker tables and 1,192 slot machines. The waterfront Hollywood Hotel features 291 rooms and a 10,000 square foot ballroom, including nine separate meeting rooms offering more than 17,000 square feet of meeting space. Hollywood offers live entertainment on weekends in three separate venues, including Shakers martini bar, Club Royale and starting in March monthly concerts in the ballroom. The Bridges golf course is an 18-hole championship golf course. Hollywood Casino Bay St. Louis has three restaurants, including Tuscany Steaks & Seafood (fine dining), the Hollywood Epic Buffet and Jackpot Java a 24-hour deli style cafe. Other amenities include a recreational vehicle (RV) Park with 100 sites and Tokens gift shop.

The Argosy Casino Sioux City is located on the Missouri River in downtown Sioux City, Iowa. The riverboat features 20,500 square feet of gaming space with approximately 702 slot machines, 19 table games and four poker tables.

Boomtown Biloxi offers 51,665 square feet of gaming space with 1,228 slot machines, 18 table games and 5 poker tables. It opened the Grill, which is a around the clock delivery which also houses the bakery.

Hollywood Slots Hotel and Raceway is situated near historic Bass Park, where Bangor Raceway is also located, in Bangor, Maine. Hollywood Slots Hotel and Raceway is situated near historic Bass Park, where Bangor Raceway is also located, in Bangor, Maine.

Bangor Raceway is located at historic Bass Park in downtown Bangor, Maine. Harness racing has been conducted continuously at Bass Park. Bangor Raceway conducted 54 days of harness racing from late April through early November on its one-half mile track. It has over 12,000 square feet of space, Bangor Raceway can seat 3,500 patrons and features a small cocktail lounge.

The Bullwhackers properties include the Bullwhackers Casino and the adjoining Bullpen Casino. On August 21, 2008, the Silver Hawk Casino, which had been a Bullwhackers property, was closed for business. The Bullwhackers properties, which are located in Black Hawk, Colorado, include 12,785 square feet of gaming space and 666 slot machines. The properties also include a 344-car parking area.

Black Gold Casino at Zia Park includes the Black Gold Casino and the adjoining Zia Park Racetrack. Black Gold Casino at Zia Park is located in Hobbs, New Mexico and includes 18,460 square feet of gaming space and 750 slot machines. The property operates three restaurants consisting of the Black Gold Buffet offering lunch and dinner, the Black Gold Steakhouse offering dinner nightly, and the Homestretch Bar & Grill serving burgers and sandwiches daily for lunch and dinner with live entertainment on the weekends.

Racing Properties

Hollywood Casino at Penn National Race Course is located in Grantville, Pennsylvania, which is 15 miles northeast of Harrisburg, 100 miles west of Philadelphia and 200 miles east of Pittsburgh. It has 365,000 square foot facility, and is sized for 3,000 slot machines, with approximately 2,200 positions operating, food court, entertainment bar and lounge, trackside dining room, a sports bar, a buffet and high-end steakhouse, as well as a simulcast facility and viewing area for live racing.

Raceway Park is a 58,250 square foot facility, with a 5/8-mile harness racing track located in Toledo, Ohio. The facility also features simulcast wagering and has a 1,977 theatre-style seating capacity and parking for 3,000 vehicles.

Through its joint venture, Penn National owns Freehold Raceway located in Freehold in Western Monmouth County, New Jersey. The property features a half-mile oval harness track and a 150,000 square foot grandstand. Sanford-Orlando Kennel Club is a 1/4 mile greyhound facility located in Longwood, Florida. The facility has a capacity for 6,500 patrons, with seating for 4,000 and parking for 2,500 vehicles. The facility conducts year-round greyhound racing, as well as year-round horse racing simulcasts.

Penn National's off-track wagering facilities (OTWs) and racetracks provide areas for viewing import simulcast races of thoroughbred and harness horse racing, televised sporting events, placing pari-mutuel wagers and dining. The Company operates four of the 17 OTWs in operation in Pennsylvania. The Company has been transmitting simulcasts of its races to other OTWs, thoroughbred and harness horse race tracks, and greyhound dog race tracks, and receiving simulcasts of races from other thoroughbred and harness horse race tracks for wagering by customers at its OTW and its horse race track facilities. Import simulcasts typically include races from horse racetracks such as Belmont Park, Churchill Downs, Gulfstream Park, Hollywood Park, Santa Anita, and Saratoga.

Telebet is an account wagering operation for Penn National Race Course. The platform offers account wagering on 80 United States racetracks and has 12,900 active account betting customers from the 14 states that permit account wagering, as well as the United States Virgin Islands.

Operated Gaming Property

Through CHC Casinos Canada Limited (CHC Casinos), an indirectly wholly owned subsidiary, Penn National operates Casino Rama, a full service gaming and entertainment facility, on behalf of the Ontario Lottery and Gaming Corporation, an agency of the Province of Ontario. Casino Rama is located on the lands of the Rama First Nation, approximately 90 miles north of Toronto. The property has approximately 93,000 square feet of gaming space, 2,535 gaming machines, 105 table games, and 12 poker tables. In addition, the property includes a 5,000-seat entertainment facility, a 289-room hotel, and 3,170 parking spaces.