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Penn National Gaming Inc (PENN.OQ)

PENN.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Gaming And Leisure Properties Announces Acquisition Of Assets Of Tropicana Entertainment
Monday, 16 Apr 2018 

April 16 (Reuters) - Gaming and Leisure Properties Inc ::GAMING AND LEISURE PROPERTIES, INC. ANNOUNCES ACQUISITION OF THE REAL ESTATE ASSETS OF TROPICANA ENTERTAINMENT.GAMING AND LEISURE PROPERTIES INC - DEAL FOR PURCHASE PRICE OF $1.21 BILLION WITH INITIAL RENT OF $110 MILLION.GAMING AND LEISURE PROPERTIES INC - ANNOUNCED ACQUISITIONS ARE EXPECTED TO BE 8% TO 10% ACCRETIVE.GAMING AND LEISURE PROPERTIES INC - EXPECTS TO FUND TRANSACTION WITH A COMBINATION OF DEBT AND EQUITY.GAMING AND LEISURE - TO BUY REAL ESTATE ASSETS OF 6 CASINO PROPERTIES FROM TROPICANA ENTERTAINMENT FOR $1.21 BILLION, EXCLUSIVE OF TAXES AND DEAL FEES.GAMING AND LEISURE PROPERTIES-WITH CLOSING OF DEAL, ELDORADO TO BUY OPERATING ASSETS OF THESE PROPERTIES, LEASE REAL ESTATE VIA NEW MASTER LEASE.GAMING AND LEISURE PROPERTIES INC - NEW ELDORADO MASTER LEASE HAS 15 YEAR INITIAL TERM AND FOUR 5 YEAR RENEWAL PERIODS.GAMING AND LEISURE - TROPICANA ENTERTAINMENT DEAL, PINNACLE - PENN NATIONAL DEAL TO RESULT IN DIVIDEND/SHARE ACCRETION OF 8-10% ON Q1 ANNUALIZED DIVIDEND.  Full Article

Penn National Gaming Secures Illinois Gaming Board Approval Of Its Pending Acquisition Of Pinnacle Entertainment
Thursday, 12 Apr 2018 

April 12 (Reuters) - Penn National Gaming ::PENN NATIONAL GAMING SECURES ILLINOIS GAMING BOARD APPROVAL OF ITS PENDING ACQUISITION OF PINNACLE ENTERTAINMENT.REMAIN ON TRACK TO COMPLETE TRANSACTION IN SECOND HALF OF 2018.  Full Article

Penn National Gaming Shareholders Approve Pinnacle Entertainment Acquisition
Thursday, 29 Mar 2018 

March 29 (Reuters) - Penn National Gaming Inc ::PENN NATIONAL GAMING SHAREHOLDERS APPROVE PINNACLE ENTERTAINMENT ACQUISITION.PENN NATIONAL GAMING SHAREHOLDERS APPROVE PINNACLE ENTERTAINMENT ACQUISITION.PENN NATIONAL GAMING - AT SPECIAL MEETING, ABOUT 86% OF PENN'S OUTSTANDING COMMON SHARES WERE VOTED.PENN NATIONAL GAMING - ABOUT 99% OF VOTES CAST IN FAVOR OF PROPOSAL TO ISSUE SHARES OF CO TO PINNACLE STOCKHOLDERS IN CONNECTION WITH DEAL.PENN NATIONAL GAMING INC - PENN AND PINNACLE CONTINUE TO EXPECT DEAL CLOSING WILL OCCUR IN SECOND HALF OF 2018.  Full Article

Pinnacle Entertainment Says If Deal Terminated By Either Party, Co To Pay Fixed Expense Reimbursement Of $30 Mln To Penn National ‍​
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Penn National Gaming Inc ::PINNACLE ENTERTAINMENT-IF DEAL TERMINATED BY EITHER PARTY UNDER SOME CIRCUMSTANCES,CO TO PAY FIXED EXPENSE REIMBURSEMENT OF $30.0 MILLION TO PENN NATIONAL ‍​.PINNACLE - ‍IF DEAL TERMINATED BECAUSE PENN SHAREHOLDERS FAIL TO APPROVE SHARE ISSUANCE, PENN TO PAY FIXED EXPENSE REIMBURSEMENT OF $60.0 MILLION TO CO.PINNACLE ENTERTAINMENT SAYS CO WILL BE REQUIRED TO PAY PENN A TERMINATION FEE OF $60.0 MILLION, IF DEAL TERMINATED UNDER SOME CIRCUMSTANCES - SEC FILING.PINNACLE ENTERTAINMENT SAYS PENN TO PAY CO A TERMINATION FEE EQUAL TO $125.0 MILLION IF MERGER AGREEMENT IS TERMINATED UNDER SOME CIRCUMSTANCES.  Full Article

Penn National Gaming To Acquire Pinnacle Entertainment For About $2.8 Bln
Monday, 18 Dec 2017 

Dec 18 (Reuters) - Penn National Gaming Inc ::PENN NATIONAL GAMING TO ACQUIRE PINNACLE ENTERTAINMENT.PENN NATIONAL GAMING TO ACQUIRE PINNACLE ENTERTAINMENT.PENN NATIONAL GAMING - PINNACLE SHAREHOLDERS TO RECEIVE $20.00 PER SHARE IN CASH AND 0.42 SHARES OF PENN NATIONAL COMMON STOCK FOR EACH PINNACLE SHARE.PENN NATIONAL GAMING INC - DEAL IS‍ IMMEDIATELY ACCRETIVE TO FREE CASH FLOW PER SHARE; EXPECTED TO GENERATE $100 MILLION IN ANNUAL RUN-RATE COST SYNERGIES​.PENN NATIONAL GAMING INC - TRANSACTION VALUED AT APPROXIMATELY $2.8 BILLION.PENN NATIONAL GAMING INC - TRANSACTION HAS BEEN APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES.PENN NATIONAL GAMING INC - DEAL FOR TOTAL PURCHASE PRICE OF $32.47 PER PINNACLE SHARE.PENN NATIONAL GAMING-ENTERED DEAL WITH BOYD IN WHICH BOYD TO PURCHASE PINNACLE'S GAMING OPERATIONS AT AMERISTAR KANSAS CITY, AMERISTAR ST. CHARLES IN MISSOURI​.PENN NATIONAL GAMING INC - GAMING AND LEISURE PROPERTIES HAS ENTERED INTO AGREEMENT TO AMEND TERMS OF PINNACLE MASTER LEASE TO PERMIT DIVESTITURES.PENN NATIONAL GAMING INC - ‍ BOYD WILL ALSO PURCHASE PINNACLE'S GAMING OPERATIONS AT BELTERRA CASINO RESORT IN INDIANA; AND BELTERRA PARK IN OHIO​.PENN NATIONAL GAMING - ‍ AGREEMENTS WITH BOYD IN WHICH BOYD WILL PURCHASE CERTAIN PINNACLE'S GAMING OPERATIONS IS FOR APPROXIMATELY $575 MILLION IN CASH​.PENN NATIONAL GAMING - ANTICIPATES ADDITIONAL CASH FLOW FROM ACQUISITION WILL ALLOW CO TO PAY DOWN DEBT ON ACCELERATED BASIS AFTER CLOSING.  Full Article

Penn National Gaming Confirms Discussions With Pinnacle Entertainment
Friday, 1 Dec 2017 

Nov 30 (Reuters) - Penn National Gaming Inc ::PENN NATIONAL GAMING CONFIRMS DISCUSSIONS WITH PINNACLE ENTERTAINMENT.SAYS ENGAGED IN DISCUSSIONS WITH PINNACLE ENTERTAINMENT, WHEREBY CO WOULD BUY PINNACLE IN A CASH & STOCK DEAL.  Full Article

Pinnacle Entertainment Confirms Discussions With Penn National Gaming
Friday, 1 Dec 2017 

Nov 30 (Reuters) - Pinnacle Entertainment Inc ::PINNACLE ENTERTAINMENT CONFIRMS DISCUSSIONS WITH PENN NATIONAL GAMING.PINNACLE ENTERTAINMENT - ‍‍ENGAGED IN DISCUSSIONS WHEREBY ​PENN NATIONAL WOULD BUY CO IN CASH AND STOCK DEAL ​.PINNACLE ENTERTAINMENT - DISCUSSIONS ‍ON POTENTIAL BUSINESS COMBINATION WITH PENN NATIONAL ​MAY OR MAY NOT LEAD TO ANY DEAL.  Full Article

Penn National And Pinnacle Entertainment Discussing Deal That Could Value Pinnacle In Low-$30'S Per Share- WSJ,Citing Sources‍​
Thursday, 30 Nov 2017 

Nov 30 (Reuters) - :PENN NATIONAL AND PINNACLE ARE DISCUSSING A CASH-AND-STOCK DEAL THAT COULD VALUE PINNACLE IN THE LOW-$30'S PER SHARE- WSJ,CITING SOURCES‍​.  Full Article

Penn National Gaming says Q3 revenue $806.2 million
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Penn National Gaming Inc -:Penn National Gaming reports record third quarter 2017 revenue of $806.2 million and income from operations of $143.7 million, resulting in adjusted EBITDA of $107.3 million, which exceeded guidance.Q3 revenue $806.2 million versus I/B/E/S view $796.3 million.Penn National Gaming Inc - qtrly ‍shr $8.43​.Penn National Gaming Inc sees December quarter ‍net revenues$756.6​ million.Penn National Gaming Inc sees December quarter earnings per common share of $0.17​.Q4 earnings per share view $0.16, revenue view $764.3 million -- Thomson Reuters I/B/E/S.Penn National Gaming Inc sees FY 2017 net revenues of $3.14 billion; sees FY 2017 earnings per share of $8.91.  Full Article

Penn National and Pinnacle Entertainment consider merger - WSJ, citing sources
Friday, 6 Oct 2017 

Oct 5 (Reuters) - :Penn National, Pinnacle Entertainment consider merger - WSJ, citing sources.  Full Article

BRIEF-Penn National Gaming Secures Illinois Gaming Board Approval Of Its Pending Acquisition Of Pinnacle Entertainment

* PENN NATIONAL GAMING SECURES ILLINOIS GAMING BOARD APPROVAL OF ITS PENDING ACQUISITION OF PINNACLE ENTERTAINMENT