ADVFN - Advanced Financial Network.
HOME» NASDAQ » P » PENN Stock Price » PENN Stock News

Penn National Share News

 Penn National Gaming (mm) Stock Price
PENN Stock Price
 Penn National Gaming (mm) Stock Chart
PENN Stock Chart
 Penn National Gaming (mm) Stock News
PENN Stock News
 Penn National Gaming (mm) Company Information
PENN Company Information
 Penn National Gaming (mm) Stock Trades
PENN Stock Trades

Penn National Buys M Resort Debt For $230.5 Million

DOW JONES NEWSWIRES Penn National Gaming Inc. (PENN) said it has bought the debt backed by the M Resort, an off-the-strip resort and casino near Las Vegas, for $230.5 million. The casino operator has been expanding its operations using its strong cash flow. It has performed relatively well even though reduced consumer spending has brought prolonged suffering to the sector, Moody's Investors Service said Monday. Penn National early this year weighed the possibility of taking control of the Fontainebleau Las Vegas, a stalled casino hotel development on the Las Vegas Strip. The company said Friday it purchased the bank debt on the entity that owns the property, as well as $160 million of subordinated debt, from Bank of Scotland PLC, a unit of Lloyds Banking Group PLC (LYG, LLOY.LN). The subordinated debt was formerly held by MGM Resorts International (MGM). The resort, on the south side of the city, opened last year just as visitation to the area was slumping. It features 390 rooms and more than 92,000 square feet of gambling space. The property represents Penn National's first major investment in the Las Vegas area. Penn National shares closed Thursday at $30.86 and were inactive premarket. The stock has gained 14% this year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;

Stock News for Penn National (PENN)
11/24/201518:18:36Statement of Changes in Beneficial Ownership (4)
11/19/201518:42:13Statement of Changes in Beneficial Ownership (4)
11/19/201518:40:10Statement of Changes in Beneficial Ownership (4)
11/13/201516:44:19Current Report Filing (8-k)
11/13/201516:15:00Penn National Gaming Receives Notice from Nasdaq
11/10/201517:53:20Statement of Changes in Beneficial Ownership (4)
11/09/201512:19:22Notification That Quarterly Report Will Be Submitted Late (nt...
11/09/201508:00:03MGM REIT: Right Move or Smoke and Mirrors?
11/04/201518:23:16Statement of Changes in Beneficial Ownership (4)
10/30/201508:30:02Caesars Entertainment's Latest Desperation Play
10/29/201506:04:41Current Report Filing (8-k)
10/28/201518:20:00Penn National Gaming Obtains Lenders’ Waivers & Discloses Approximate D...
10/22/201507:00:00Penn National Gaming Reports Third Quarter Revenue of $739.3...
10/15/201509:00:00Play ringit! Now For Real-time, Play-By-Play Sports Prediction...
10/09/201515:00:56Amended Statement of Changes in Beneficial Ownership (4/a)
10/09/201510:00:00Penn National Gaming to Report Third Quarter Results and Host...
10/05/201510:00:00Penn National Gaming Announces Schedule for Season 4 of the Hollywood...
08/25/201512:31:55Current Report Filing (8-k)
08/20/201515:08:00Penn National Gaming Obtains Final Regulatory Approval for $360...
08/06/201514:28:14Quarterly Report (10-q)

Penn National Gaming and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations