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Rumor has it one Pennsylvania casino giant is in talks to take over one of its competitors. The Wall Street Journal reported last week that Penn National Gaming was in discussions with Pinnacle Entertainment regarding a possible merger.
Representatives from both companies refused to comment. However, stock prices for both companies went up in the wake of the rumors.
Penn National Gaming
Penn National Gaming has its headquarters in Wyomissing, Pennsylvania. However, the company has its roots in the Penn National Race Course in the Harrisburg suburb of Grantville.
Also, the company owns and operates some 26 gaming properties in the US and manages one in Canada. In Pennsylvania, it owns and operates the Hollywood Casino at Penn National Race Course in Grantville.
This property includes the Penn National Race Course that opened in 1972 with a one-mile dirt course and seven-furlong turf course. Also, the track hosts thoroughbred racing 52 weeks per year.
Additionally, the Hollywood Casino opened at the property in February 2008. Table games were added in accordance with state laws in July 2010. The casino now boasts almost 2,500 slot machines and more than 50 tables. Also, there is a live poker room on site.
The Hollywood Casino brand is Penn National Gaming’s largest. In fact, Hollywood Casino has properties in seven other states, including:
- Illinois
- Ohio
- Mississippi
- California
- Kansas
- Indiana
- Missouri
Some of Penn National Gaming’s highest profile casino properties include M Resort in Henderson, Nevada and Tropicana Las Vegas on the Las Vegas Strip.
Pinnacle Entertainment
Pinnacle Entertainment has its headquarters in Spring Valley, Nevada. However, the company traces its roots back to the Hollywood Park Turf Club racetrack in Inglewood, California. It now operates 16 casinos in nine states and a horse track in Texas.
States with Pinnacle Entertainment-run casinos include:
- Colorado
- Indiana
- Iowa
- Louisiana
- Missouri
- Nevada
- Pennsylvania
- Ohio
Pinnacle Entertainment’s Pennsylvania casino is the Meadows Racetrack and Casino. The Meadows Racetrack and Casino is a standardbred harness racing track and casino just outside of Pittsburgh.
A temporary casino opened at the track in 2007. However, it was replaced by a permanent casino facility in April 2009. Also, table games were added in July 2010.
Additionally, there are more than 3,000 slots, 65 table games and a 14-table poker room at Meadows. Pinnacle purchased Meadows for $138 million in September 2016.
Pinnacle Entertainment’s largest casino brand is Ameristar. Plus, Ameristar properties can be found in:
- Iowa
- Indiana
- Mississippi
- Missouri
- Colorado
The rumors persists the two companies have held on-again, off again talks with Penn National Gaming interested in buying Pinnacle Entertainment. However, the two sides have not agreed on terms so far.