Q1 2025: Penn Sees Online Growth as Proxy Battle Heats Up
On May 8, Penn Entertainment reported Q1 2025 gains in online gaming, while land-based growth stalled. Tensions rise as HG Vora sues ahead of a key shareholder vote.Total...
Penn Entertainment to built new Hollywood Casino
Penn Entertainment is officially closing the chapter of its long-time riverboat casino in Council Bluffs and getting ready to build a completely new and exciting gambling venue.
The company just got the green light from the Iowa Racing and Gaming Commission to move forward with a new $180 to $200 million land-based Hollywood Casino.
The new casino will be built next to the Ameristar Casino Hotel and will bring all gaming operations onto a single floor of 58,000 square feet of space for slots, tables, and more. The full facility will cover around 125,000 square feet and keep fan favorites like the 160-room hotel, restaurants, and the ESPN BET sportsbook.
The Executive Vice President of Penn Entertainment commented:
“PENN’s diversified portfolio of casino properties is core to our omni-channel approach to entertainment, which combines our best-in-class retail operations and a database of more than 32 million PENN Play members with our robust interactive and media footprint.”
Once permits and designs are finalized, Penn Entertainment will start the construction process. To help fund it, Penn may receive up to $150 million from Gaming and Leisure Properties Inc., either as a lease or a five-year loan.
When it comes to public support, local leaders stand next to the project. The Iowa West Racing Association praised Penn’s continued commitment to the area. With the beloved riverboat casino becoming a historic venue since 1996, the new Hollywood Casino is set to reshape the gambling market in the region.
Former FanDuel executive joins Penn’s interactive division
PENN Entertainment announced the appointment of former FanDuel executive, Billy Turchin as Chief Product Officer in Interactive division.With his experience of four years...
