M&A Deal Summary

PENN Entertainment Acquires Illinois Gaming Investors

On July 31, 2015, PENN Entertainment acquired gaming company Illinois Gaming Investors

Acquisition Highlights
  • This is PENN Entertainment’s 5th transaction in the Gaming sector.
  • This is PENN Entertainment’s 14th transaction in the United States.
  • This is PENN Entertainment’s 1st transaction in Illinois.

M&A Deal Summary
Date 2015-07-31
Target Illinois Gaming Investors
Sector Gaming
Buyer(s) PENN Entertainment
Deal Type Add-on Acquisition
Advisor(s) Wells Fargo Securities (Financial)

Target

Illinois Gaming Investors

Hinsdale, Illinois, United States
website
Prairie State Gaming is a video gaming terminal operator. PSG’s operations include more than 1,100 gaming terminals across a network of 270 bar and retail gaming establishments throughout the state.

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Buyer(S) 1

Buyer

PENN Entertainment

Wyomissing, Pennsylvania, United States

website

Category Company
Founded 1972
Sector Gaming
Employees18,321
Revenue 6.4B USD (2022)
DESCRIPTION

PENN Entertainment owns, operates and has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. PENN Entertainment was founded in 1972 and is based in Wyomissing, Pennsylvania.

DEAL STATS #
Overall 14 of 19
Sector (Gaming) 5 of 6
Type (Add-on Acquisition) 12 of 16
State (Illinois) 1 of 1
Country (United States) 14 of 18
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-29 Tropicana Las Vegas

Las Vegas, Nevada, United States

Tropicana Las Vegas is an operator of Hotel and Casino that boasts stylish rooms, suites, and luxury villas, complete with acclaimed restaurants, premier entertainment options, and a 50,000-square-foot casino. The resort redefines the expectations of today's global travelers by providing a casually elegant experience on The Strip, all with a South Beach rhythm and vibe. The property also features Glow® a Mandara Spa and fitness center, Laugh Factory Comedy Club, Trago Lounge, and restaurants such as Robert Irvine’s Public House, Bacio Breakfast, Oakville Steakhouse, Barista Café, Fresh Mix, South Beach Food Court, and Savor Brunch Buffet. Tropicana Las Vegas is based in Las Vegas, Nevada.

Buy $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-16 Rosecroft Raceway

Fort Washington, Maryland, United States

Rosecroft Raceway is a provider of racetracks.

Sell -
Mergr

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