public traded as nasdaq penn industry casinos and horse racing founded 1972 ; 44 years ago 1972 headquarters wyomissing pennsylvania united states key people timothy j. wilmot president and ceo jay snowden coo saul rebstein sr. vice president finance and cfo revenue 2 742.25 million 2011 1 operating income 499.58 million 2011 net income 242.35 million 2011 total assets 4.606 billion 2011 total equity 1.971 billion 2011 number of employees 16 740 website pngaming.com penn national gaming inc. is an operator of casinos and racetracks based in wyomissing pennsylvania . as of 2012 it owns and operates 26 facilities in 18 states and manages one casino in canada . contents 1 history 2 properties 2.1 casinos 2.2 racinos 2.3 race tracks 2.4 former 3 references 4 external links history edit the company traces its roots to penn national race course which opened in 1972 in the harrisburg suburb of grantville pennsylvania . 2 the company was incorporated as pnrc corp. in 1982 and changed its name to penn national gaming inc. in 1994 . in 2003 penn national bought hollywood casino corp. for 328 million plus 360 million in assumed debt gaining casinos in aurora illinois ; tunica mississippi ; and shreveport louisiana . 3 in 2005 penn national acquired argosy gaming company for 2.2 billion making it at the time the third largest publicly held gaming company in the country 4 behind mgm mirage and harrah s entertainment . in november 2006 penn national gaming failed in an attempt to acquire harrah s entertainment . 5 the deal to purchase harrah s fell through and harrah s was eventually taken over by two private equity firms . in 2007 it acquired the zia park racino in hobbs new mexico for 200 million . an attempt in 2007 to take company private with a 6.1 billion buyout fell through with prospective buyers new york based fortress investment group and centerbridge partners . 6 in november 2012 penn national announced a plan to spin off 17 of its 29 properties in a new real estate investment trust reit in an effort to reduce taxes and cost of capital and overcome license ownership restrictions . the reit would also pursue sale and leaseback transactions with other casino operators . 7 8 the spin off was completed on november 1 2013 creating gaming and leisure properties inc. 9 in february 2013 penn national agreed to sell the bullwhackers casino in black hawk to an investor group led by casino developer john zimpel . 10 in april 2015 the company agreed to purchase the tropicana las vegas for 360 million . 11 properties edit casinos edit argosy alton alton illinois argosy kansas city riverside missouri argosy sioux city sioux city iowa boomtown casino biloxi biloxi mississippi casino rama rama ontario canada management only m resort henderson nevada hollywood casino aurora aurora illinois hollywood casino columbus columbus ohio hollywood casino gulf coast bay st. louis mississippi hollywood casino jamul jamul california under construction hollywood casino joliet joliet illinois hollywood casino at kansas speedway kansas city kansas hollywood casino lawrenceburg lawrenceburg indiana hollywood casino st. louis maryland heights missouri hollywood casino toledo toledo ohio hollywood casino tunica tunica mississippi tropicana las vegas paradise nevada racinos edit hollywood casino hotel & raceway bangor maine hollywood casino at charles town races charles town west virginia dayton raceway dayton ohio mahoning valley race course austintown ohio penn national race course grantville pennsylvania plainridge park casino plainville massachusetts zia park black gold hotel & casino hobbs new mexico race tracks edit freehold raceway freehold borough new jersey 50 % ownership sam houston race park ltd. 50 % ownership sam houston race park houston texas valley race park harlingen texas sanford orlando kennel club longwood florida former edit beulah park grove city ohio closed raceway park toledo ohio closed references edit penn national gaming annual reports international directory of company histories vol . 33 . st. james press 2000 penn completes hollywood casino buy . dallas business journal . march 4 2003 . retrieved 2012 07 19 . argosy gaming to be acquired by penn national gaming st. louis business journal november 3 2004 https web.archive.org web 20061201225436 http money.cnn.com 2006 11 29 news companies penn harrahs.reut index.htm postversion 2006112907 . archived from the original on december 1 2006 . missing or empty title help usa today penn national gaming agrees to 6.1 b deal . retrieved june 15 2007 stutz howard november 16 2012 . penn national plans split into two separate publicly traded companies . las vegas review journal . retrieved 2012 11 16 . defotis dimitra november 16 2012 . penn national gaming hits jackpot . barron s. retrieved 2012 11 16 . jamison cocklin november 2 2013 . penn national forms spin off company for tax breaks on real estate . youngstown vindicator . retrieved 2013 11 07 . andy vuong february 14 2013 . johnny z s developer to acquire bullwhackers casino in black hawk . denver post . retrieved 2013 04 27 . kimberly de la cruz april 29 2015 . penn national to buy tropicana for 360 million . las vegas review journal . retrieved 2015 04 29 . external links edit penn national gaming v t e philadelphia area corporations including the delaware valley list of companies based in the philadelphia area philadelphia based fortune 500 corporations rank in the 2015 list comcast 43 aramark 207 crown holdings 318 delaware valley based fortune 500 corporations rank in the 2015 list amerisourcebergen 16 dupont 87 lincoln national 223 universal health services 324 campbell soup 342 ugi 349 burlington stores inc. 500 other notable philadelphia based businesses amoroso s beneficial bank chemtura day & zimmermann fmc corporation independence blue cross pennsylvania real estate investment trust pep boys philadelphia media network radian group urban outfitters notable philadelphia based professional partnerships ballard spahr blank rome cozen o connor dechert drinker biddle & reath duane morris morgan lewis & bockius pepper hamilton saul ewing white and williams other notable delaware valley based businesses actua corporation airgas alliedbarton ametek aqua america asplundh bentley systems brandywine realty trust boscov s carpenter technology cephalon chemours christiana care health system crozer keystone health system david s bridal epam systems enersys hamilton lane liberty property trust penn mutual penn national gaming rita s italian ice sei investments slm sungard susquehanna international group vanguard toll brothers triumph group unisys viropharma vishay intertechnology vwr wawa wilmington trust w. l. gore and associates wsfs bank notable delaware valley based us headquarters of foreign businesses aberdeen asset management ace agustawestland astrazeneca delaware investments glaxosmithkline ing group keystone foods sap america siemens medical shire pharmaceuticals subaru teva pharmacueticals td bank notable delaware valley based division headquarters of us corporations acme cerberus capital management centocor johnson & johnson colonial penn conseco delmarva power exelon gsi commerce ebay hercules ashland mab paints sherwin williams mcneil laboratories j & j neoware hewlett packard peco exelon qvc liberty media rohm and haas dow chemical sunoco energy transfer tasty baking flowers foods retrieved from https en.wikipedia.org w index.php title penn national gaming & oldid 743746469 categories hospitality companies of the united statesgambling companies of the united statescompanies based in berks county pennsylvaniaamerican companies established in 1982horse racing companiescompanies listed on nasdaq1982 establishments in pennsylvaniahidden categories pages with citations lacking titlespages with citations having bare urls navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit 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