penn national gaming casinos in las vegas

The Governor will remain in consultation with the state’s licensed casinos, public health authorities and government officials to determine safe protocols for when operations may resume. All hotel operations will be closing by 6:00pm on Thursday, March 19, 2020. All gaming operations will be closing at midnight tonight and all non-gaming operations, other than hotel operations, will be closing by noon on Wednesday, March 18, 2020. (NASDAQ: PENN) (“Penn National” or the “Company”) announced today that pursuant to an order from Governor Steve Sisolak, it will temporarily suspend operations for thirty days at Tropicana Las Vegas, The M Resort, and Cactus Petes as a precautionary measure against the ongoing spread of COVID-19. “Penn National has brought financial stability to the facility,” Marnell said.Penn National Gaming, Inc. Following the marketing effort, M Resort booked more than 1,300 incremental room nights, which increased occupancy by almost 4 percent and contributed to first-quarter property revenue of $39.8 million and cash flow of $6.2 million. In January, Penn began marketing M Resort to its database of more than 12 million regional gaming customers. Penn National operates nearly 20 casinos and racetracks in regional markets and has more than 15,000 employees companywide. Rose Parkway and employs about 1,200 workers. M Resort sits on 90 acres at the southeast corner of Las Vegas Boulevard and St. “Through this transaction, M Resort has emerged as a financially sound, debt-free, upscale locals and destination-oriented casino resort with extensive high-quality amenities.” Penn National Chief Executive Officer Peter Carlino said in a statement. Company executives told state gaming regulators in May that Penn’s ownership stabilizes the property’s previously uncertain financial future. Penn National spent $230.5 million to acquire M Resort’s $860 million in debt in October. Penn National also announced that M Resort developer Anthony Marnell III, who built the hotel-casino at a cost of nearly $1 billion, would serve as president of the property. The regional casino and racetrack operator, which is based in Wyomissing, Pa., took control of the 390-room hotel-casino after purchasing the debt covering the 2-year-old M Resort at a nearly 75 percent discount last October. Penn National Gaming officially acquired M Resort on Wednesday after Nevada gaming regulators approved the deal last month.

Penn national gaming casinos in las vegas