Penn National plans development program for the Tropicana
The company announced in April it was acquiring the Strip resort for USD 360M and the transaction is expected to close by the end of the year. Penn said the initial phase of the program would cost USD 20M and include a technology upgrade to implement Penn's player rewards system.
Penn said it would also evaluate expanding the property's retail offerings, food and beverage outlets, and entertainment. The company would also consider expanding the hotel. Penn discussed the Tropicana during the company's second quarter earnings announcement.
The company also said it was increasing the budget for its Hollywood Casino Jamul in San Diego to by $30 million to $390 million. The resort is expected to open next year. Penn has a seven-year management contract with the Jamul Indian Village for the casino that pays the company 30 percent of pre-tax profits and a 1.5 percent licensing fee for the Hollywood name.
Penn quadrupled its net income for the quarter that ended June 30 to $16.9 million, or 19 cents per share. Total revenue grew 7 percent in the quarter to $701 million.
State attorneys general push for local control over sports prediction markets
Massachusetts high court signals skepticism in Kalshi sports contracts case
Bally’s Chicago tops off permanent casino, targets 2027 opening
Zitro Digital appoints Thiago Valadão as Commercial Director for Brazil
HIPTHER appoints Elena Stepanyatova to lead event content and production across conference portfolio
William Hill owner Evoke to close 270 shops as losses widen on tax hit
Red Rock Resorts posts record quarterly revenue, flags construction impact
IDX selected to power 250 gaming tables with X-Trend system at the Westside Resort
Racing and Sports partners with Altenar to enhance global racing offering
Altenar wins Best Online Sportsbook Provider 2026 at SiGMA South America
Wazdan earns triple nominations at AffPapa iGaming Awards 2026 for excellence in slots and branding
