PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq:
PENN) announced today that it will host a groundbreaking ceremony
for a new hotel at Hollywood Casino Columbus on November 28, 2023
at 1pm ET.
“We are thrilled to soon begin construction on a new,
state-of-the-art hotel at Hollywood Casino Columbus,” said Jay
Snowden, CEO and President of PENN Entertainment. “Since opening in
2012, our Columbus property has experienced tremendous growth, and
the addition of a hotel at Hollywood Casino Columbus will create a
true regional destination.”
The hotel, with an estimated budget of approximately $100
million, will be attached to the existing property and will add
hundreds of construction jobs and approximately 100 new permanent
jobs upon opening. The hotel is expected to include 180 rooms,
meeting space, an additional restaurant, and local partnerships and
amenities that will be announced at a later date.
“We are elated to be celebrating this day with our team members,
supporters, and key stakeholders,” said Rick Skinner, Vice
President & General Manager of Hollywood Casino Columbus. “We
can’t wait to begin hiring new team members and welcoming more
visitors from around the region to showcase our new hotel and the
excitement of Hollywood Casino Columbus.”
The new hotel is part of a previously announced plan consisting
of four new growth projects that include new land-based casinos in
Aurora and Joliet, Illinois; and an additional hotel tower in
Henderson, Nevada. The City of Aurora will be providing $50 million
in funding for the project there, and Gaming and Leisure
Properties, Inc. has committed up to $575 million towards the
overall $850 million budget for all four growth projects.
About Hollywood Casino Columbus
Operated by Penn Entertainment., Hollywood Casino Columbus is
conveniently located off I-270 West and is open 24 hours a day,
seven days a week. The 160,000 square foot gaming facility features
1700 slot machines, 70 table games, a retail sportsbook and the
largest poker room in Central Ohio. Dining options include The
Lounge at Final Cut Steak & Seafood, Mikey’s LateNight Slice,
Dirty Frank’s Hot Dog Palace, Zen Noodle, Wahlburgers and
Sportsbook Restaurant. Hollywood Casino Columbus also offers more
than 16,000 square feet of multi-purpose banquet and event space.
For more information, go to www.hollywoodcolumbus.com
About PENN Entertainment
PENN Entertainment, Inc., together with its subsidiaries
(“PENN,” the “Company,” “we,” “our,” or “us”), is North America’s
leading provider of integrated entertainment, sports content, and
casino gaming experiences. PENN operates 43 properties in 20
states, online sports betting in 18 jurisdictions and iCasino in
five jurisdictions, under a portfolio of well-recognized brands
including Hollywood Casino®, L’Auberge®, ESPN BET™ and theScore Bet
Sportsbook and Casino®. In August 2023, PENN entered into a
transformative, exclusive long-term strategic alliance with ESPN,
Inc. and ESPN Enterprises, Inc. (together, “ESPN”) relating to
online sports betting within the United States. PENN’s ability to
leverage the leading sports media brands in the United States
(ESPN) and Canada (theScore) will position us to significantly
expand our digital footprint and efficiently grow our customer
ecosystem. This highly differentiated strategy, which is focused on
organic cross-sell opportunities, is reinforced by our
market-leading retail casinos, sports media assets, and technology,
including a proprietary state-of-the-art, fully integrated digital
sports and iCasino betting platform and an in-house iCasino content
studio. PENN’s portfolio is further bolstered by our
industry-leading PENN Play™ customer loyalty program, which offers
our over 27 million members a unique set of rewards and experiences
across business channels.
Forward Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by the use of
forward-looking terminology such as “expects,” “believes,”
“estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,”
“may,” “will,” “should,” or “anticipates” or the negative or other
variations of these or similar words, or by discussions of future
events, strategies or risks and uncertainties. Specifically,
forward-looking statements include, but are not limited to,
statements regarding: the Company’s development projects at
Hollywood Casinos Aurora, Joliet, Columbus, and the M Resort Spa
Casino, and the expected benefits and potential challenges of these
development projects; our ability to obtain financing for our
development projects on attractive terms; the timing, cost and
expected impact of planned capital expenditures on the Company’s
results of operations; the scale and timing of the Company’s
development, product and technology investments; the Company’s
expectations regarding results, and the impact of competition, in
retail/mobile/online sportsbooks, iCasino, social gaming, and
retail operations; the Company’s expectations regarding its
Sportsbook Agreement with ESPN and the future success of its
products; the Company’s development and launch of its Interactive
segment’s products in new jurisdictions and enhancements to
existing Interactive segment products, including the content for
the ESPN BET and theScore Bet Sportsbook and Casino apps; and the
actions of regulatory, legislative, executive or judicial decisions
at the federal, state, provincial or local level with regard to our
business and the impact of any such actions.
Such statements are all subject to risks, uncertainties and
changes in circumstances that could significantly affect the
Company’s future financial results and business. Accordingly, the
Company cautions that the forward-looking statements contained
herein are qualified by important factors that could cause actual
results to differ materially from those reflected by such
statements. Such factors include: the effects of economic and
market conditions in the markets in which the Company operates;
competition with other entertainment, sports content, and casino
gaming experiences; the timing, cost and expected impact of
development, product and technology investments; risks relating to
international operations, permits, licenses, financings, approvals
and other contingencies in connection with growth in new or
existing jurisdictions; collective bargaining activity and strikes;
and additional risks and uncertainties described in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2022,
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K, each as filed with the U.S. Securities and Exchange
Commission. The Company does not intend to update publicly any
forward-looking statements except as required by law. Considering
these risks, uncertainties and assumptions, the forward-looking
events discussed in this press release may not occur.
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version on businesswire.com: https://www.businesswire.com/news/home/20231127631857/en/
Jeff Morris Vice President, Public Affairs PENN Entertainment,
Inc. 610-373-2400 jeff.morris@pennentertainment.com
Alison Bleier Marketing Manager Hollywood Casino Columbus
614-308-4474 alison.bleier@pennentertainment.com
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